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Joseph Andrew Stack, 53, seem to have a big grudge with the Internal Revenue Service (IRS), enough to crash his plane, Piper Cherokee PA-28, into a building housing an IRS…

You may be able to contribute to a Coverdell Education Savings Account (ESA) to finance a beneficiary’s qualified education expenses if your modified adjusted gross income is below the established…

The American Recovery and Reinvestment Act permits taxpayers to take a deduction for state and local sales and excise taxes paid on the purchase of new cars, light trucks, motor homes and…

Check Your WithholdingHow will the Making Work Pay tax credit affect you?Most wage earners will benefit from larger paychecks in 2009 and 2010 as a result of the changes made…

A tax deductions (also called a tax write off) lets you subtract an amount of money from what is called your taxable income(the amount on which you must pay tax).…

Tax Deduction A tax deduction, such as contributions to a Traditional IRA or 401(k), reduces your adjusted gross income How much that deduction is worth to you depends on your…

What is Cancellation of Debt?If you borrow money from a commercial lender and the lender later cancels or forgives the debt, you may have to include the cancelled amount in…

The IRS does not initiate taxpayer communications through e-mail. The IRS does not request detailed personal information through e-mail. The IRS does not send e-mail requesting your PIN numbers, passwords…

Workers who lose their jobs during January and February may qualify for a 65-percent subsidy on their COBRA health insurance premiums, and these newly-eligible individuals, along with those already receiving…

The Internal Revenue Service today released the new form that eligible homebuyers need to claim the first-time homebuyer credit this tax season and announced processing of those tax returns will…