Taxpayer asks: In September 2017 we refinanced our house to pay off crushing credit card debt we incurred during the recession and could not hope
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IRS Will Provide Tax Transcripts During Shutdown
With the Internal Revenue Service (IRS) mostly closed for business, taxpayers have been unable to obtain routine tax transcripts and other documentation used for income
Read MoreShutdown Of IRS & Other Government Agencies Leads To Headaches For Homebuyers And Lenders
The federal government officially kicked into partial shutdown mode on December 20, 2018. Two weeks later, the Internal Revenue Service (IRS) and other government agencies
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Taxes From A To Z (2018): L Is For Line Of Credit
It’s Taxes From A to Z! L is for Line of Credit.
Read MoreUnderstanding Your Forms: Form 1098, Mortgage Interest Statement
Here’s what you should know about the form 1098, Mortgage Interest Statement.
Read MoreTax Break Ending For Underwater Homeowners: Is It The Right Time?
As the year draws to a close, so, too, are a number of tax provisions for individuals. One of the most talked about is the Mortgage Forgiveness Debt Relief Act, which is set to expire in a few days. The provision allows taxpayers to exclude forgiven or canceled debt from a short sale, foreclosure or other mortgage relief, from taxable income. Will Congress tack on another year or just let the Act expire?
Read MoreHot, Hot, Hot: Air Conditioning Tax Credits Have Disappeared
We’re under an Excessive Heat Warning in Philadelphia. In May. Don’t get me started about how much this stinks. I am not a fan of
Read MoreTaxes From A To Z: S Is For Standard Deduction
S is for Standard Deduction. Most taxpayers have the option of claiming the standard deduction or the itemized deduction. I say “most” because, as with
Read MoreMortgaging Our Future: The Hardest Hit Fund Initiative
Imagine for a moment that the top wage earners in the land were forced to throw their funds into a common pot that would be
Read MoreAsk The Taxgirl: Does Renting Mean I Can’t Itemize?
Taxpayer asks: Hello Taxgirl! I have a question! I was married last year, and this is the first time I will be filing a joint
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