Dealing With Your Mother-In-Law (And Your Parents): When Seniors Become Dependents

Today is Mother-in-Law’s Day. The day, created by the editor of a local newspaper in Amarillo, Texas, was first held on March 5, 1934, but was eventually moved to the fourth Sunday in October (insert random Halloween witch joke here). Mothers-in-law don’t always have the best reputation. Many mother-in-law relationships are notoriously difficult, such as … Read more

As TIGTA Continues To Warn On IRS Scams, New Treasury Scams Surface

Over the past two years, nearly 4,550 victims have collectively paid over $23 million to scammers posing as Internal Revenue Service (IRS) officials. Since October 2013, the Treasury Inspector General for Tax Administration (TIGTA) has received reports of roughly 736,000 contacts made to taxpayers demanding that they send them cash via prepaid debit cards. J. … Read more

FreeFile, Other Options Still Available For Taxpayers On Extension

With less than two weeks to go until the October 15 deadline, nearly a quarter of the 13 million taxpayers who requested an automatic extension this year have not yet filed. That doesn’t mean that it’s time to panic: you still have plenty of time. The rules for filing your return on extension are the … Read more

2015 Tax Season ‘Miserable’ For Many Taxpayers: Will It Get Better In 2016?

“All we can do is try to maximize our services as well as we can; as well as we can is still going to be miserable. You really do get what you pay for.” That was the word from Internal Revenue Service (IRS) Commissioner John Koskinen last year as he described the challenges the agency … Read more

2016 Tax Bills May Go Down But Tax Related Penalties Are Going Up

<em>(Author’s note:</em> For a refresher on the official 2015 tax rates, <a href=”http://www.forbes.com/sites/kellyphillipserb/2015/05/14/2015-tax-rates-standard-deductions-personal-exemptions-credit-amounts-more/”>click here</a>.) Today, <a href=”http://www.bna.com/”>Bloomberg BNA</a> released their predictions for the coming tax year and it looks like taxpayers whose income is the same compared to last year may end up with a lower tax bill (you can check out those rates here). … Read more

2016 Tax Rates, Brackets & Exemption Amounts May Result In Lower Bills

(Author’s note: For a refresher on the official 2015 tax rates, click here.) The U.S. Bureau of Labor Statistics reported today that the consumer price index (CPI) has dropped off by just .1% for the month of August. The index for all items less food and energy increased 0.1% in August, the same as the previous month. … Read more

IRS Seeks Public Comment On Controversial Obamacare ‘Cadillac Tax’

When The Patient Protection and Affordable Care Act (often just referred to as “Obamacare”) took effect, one of the most controversial features was the so-called Cadillac tax. The tax was intended to target high-cost health care plans, thus earning the moniker “Cadillac.” The tax hasn’t changed much since it was first dreamed up. It’s still intended to … Read more

Good News For Widow Who Lost Her Home Over $6.30 Tax Bill

There’s some good news for a Pennsylvania woman this week: she can keep her home. A decision from the Pennsylvania Supreme Court has put an end to litigation involving the sale of her home due to an alleged underpayment. The woman, Eileen Battisti, allegedly failed to pay $6.30 (downloads as a pdf) in interest on a late payment of property taxes … Read more