Money saved in a 529 plan can be used to pay tuition and fees associated with college or graduate school. Eligible schools include any postsecondary educa...

You may be eligible as a qualified non-citizen if you are a: Lawful permanent resident (or green card holder), Immigrant paroled into the U.S. for at leas...

box 1 In box 1 of the Form W-2, your company reports the total taxable wages of the employee for IRS record keeping. When you calculate this number, take ...

Taxpayers who claim the Earned Income Credit and Additional Child Tax Credit received some good news recently. A special rule in the December stimulus bil...

In view of the large cases of ITRs being filed without payment of self assessment tax, the Finance Act, 2013 has inserted a new clause (aa) to the said ex...

If you filed your tax return electronically, IRS’s return processing takes from 2 to 4 weeks before a transcript becomes available. If you mailed your tax...

Capital gains and losses related to the dissolution of a marriage or de facto relationship are exempt from capital gains tax. The law also provides for ce...

No, reverse mortgage payments aren’t taxable. Reverse mortgage payments are considered loan proceeds and not income. The lender pays you, the borrower, lo...

If you owe 2016 Taxes, file your tax return as soon as possible to reduce late filing fees and penalties. You can no longer claim a 2015 Tax Refund. Prepa...

There are two types of donations that can be made to a 501(c)(3). A cash donation is the transfer of funds to a nonprofit. An in-kind donation is the tran...