Archives 2011

Some taxpayers assert that they are not required to file federal tax returns because the filing of a tax return is voluntary.  Proponents point to the fact that the IRS…

The Internal Revenue Service has issued several recent consumer warnings on the fraudulent use of the IRS name or logo by scamsters trying to gain access to consumers’ financial information…

Taxpayers need to be careful to protect their personal information. Identity thieves use many methods to steal personal information and then they use the information to file a tax return…

WASHINGTON — Police in Tampa, Fla., knew something was up when they noticed many of their biggest drug dealers were no longer on the streets. When one of the drug…

You can deduct dues and initiation fees you pay for union membership. You can also deduct assessments for benefit payments to unemployed union members. However, you cannot deduct the part…

If you were an eligible educator in 2010, you can deduct up to $250 of qualified expenses you paid in 2010 as an adjustment to gross income on Form 1040,…

If you break an employment contract, you can deduct damages you pay your former employer if the damages are attributable to the pay you received from that employer. Depreciation on…

A business bad debt is a loss from a debt created or acquired in your trade or business. Any other worthless debt is a business bad debt only if there…

Generally, the following expenses are deducted on Schedule A (Form 1040), line 21, or Schedule A (Form 1040NR), line 9. You can deduct only unreimbursed employee expenses that are: Paid…

You can deduct certain expenses as miscellaneous itemized deductions on Schedule A (Form 1040 or Form 1040NR). You can claim the amount of expenses that is more than 2% of…