TaxTip

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

fraud
Mar 31st, 2014

Help! I’m the victim of a tax scam!

Ed note: Unfortunately a number of taxpayers will fall victim to tax scams or identity theft this year. The IRS works diligently to prevent this from happening, but here’s what you need to know and look for. Leer en español. Filing your taxes can be stressful, but if you’ve fallen victim to a tax scam the […]

Affordable Care Act
Mar 26th, 2014

Two Important Deadlines [VIDEO]

April 15 isn’t just an important date to know for filing taxes this year. It’s also the last day to file or amend a tax return for tax year 2010. March 31 is the deadline for open enrollment in a Marketplace health insurance plan, under the Affordable Care Act. If you’ve been without health insurance […]

caffeine

Profile of a Procrastinator – Maybe You? [INFOGRAPHIC]

If you haven’t done your taxes yet, you certainly aren’t alone. In fact, you’re part of a healthy percentage of the population that will wait until the last few weeks before April 15. Here are a few pointers for what to do to help meet the deadline, or what to file if you really and […]

Bitcoin
Mar 25th, 2014

IRS Issues Guidance on Virtual Currency

There’s been quite a buzz around Bitcoin as of late. Congress held hearings about the virtual currency last fall and Newsweek claimed to have identified its creator. However, arguably the biggest news came from the IRS today, which announced that virtual currencies will be treated as property for U.S. federal tax purposes. This clears up […]

deadline
Mar 24th, 2014

Procrastinators Rejoice! File an Extension Now

Ed note: If you dread each day that brings April 15 closer, or if you have completely forgotten about filing taxes this year, then you probably need to read this very valuable advice from attorney Anna Sandall. Leer en español. If last year you found yourself in a mad dash to the post office on April […]

child
Mar 18th, 2014

How to decide whether to claim yourself?

Ed note: You may feel like an independent adult, but in the eyes of an IRS you could still be your parent’s dependent, and whether or not they claim you can have an effect on your tax return. Learn more from The Tax Institute’s Mike Slack. Leer en español. You: 18-24 years old, working or in […]