TaxTip

Pointers, prep tips and analysis from the experts who do this every day.

e-file
Dec 17th, 2014

The Truth Behind These Common Tax Myths

Ed note: There are a few persistent tax myths that pop up year after year. Here’s the unfortunate truth about some of these misconceptions. Leer en español. Myth #1: Being Unemployed Means Not Paying Taxes Any unemployment benefits you receive from local, state or federal government entities are considered to be income and must be reported […]

credit
Dec 16th, 2014

Up to 1 in 6 Taxpayers May Miss Out This Year With Expiring Tax Benefits

Update: Good news! Congress has passed a one-year retroactive extension to these tax provisions that expired at the end of 2013. Now it just needs the President’s signature. This marks the sixth time since 2005 that Congress has extended these or similar tax breaks. Original post: There were a bunch of tax breaks that expired last […]

1040
Dec 15th, 2014

What Does It Really Mean to be Audited?

Ed note: We’re all afraid of something. Heights. Snakes. Whatever. But around tax time, you’ll find a lot of people very scared about the possibility of being audited. In that case, here’s some reassuring news for you. Leer en español. Most people think of the word “audit” as one of the worst five letters words […]

1095-A
Dec 11th, 2014

New Tax Form Coming: The 1095-A [INFOGRAPHIC]

It’s been said before, but the Affordable Care Act is the largest change to the tax code in 20 years. Part of that change means that there are entirely new tax forms you may need to know about. If you received health insurance coverage through a Marketplace, you’ll want to know about the 1095-A. Our […]

1040NR
Dec 10th, 2014

The First Time International Taxpayer’s Guide to Filing a U.S. Tax Return

Ed note: If you are new to the U.S., the process of filing a tax return may seem daunting at best and impossible at worst. We help sort through what it means to be a nonresident filing for the first time – what status to use and what documentation you’ll need to work on ahead […]

Affordable Care Act
Dec 4th, 2014

What to know NOW about health care coverage and your taxes

Under the Affordable Care Act (ACA), everyone must have health insurance coverage or meet the qualifications for an exemption. Leer en español. As a result of the ACA, there are a lot of changes to this year’s tax code, 46 changes to be exact. That’s why we’ve made it a priority to help you learn about the […]