Month: May 2015

What Are the Odds the IRS Will Audit Your Tax Return? And What Should You Do If It Does?

This is the quintessential good-news/bad-news story. The good news: If you’re worried that the tax return you just sent to the IRS will be audited, [...]

Tax reform, lower rates among top legislative goals

Tax rates should be no higher than 25% for both individual and corporate taxpayers, Rep. Paul D. Ryan, R-Wis., told members of the AICPA’s spring Council [...]

IRS Marks National Military Appreciation Month; Free Tax Guide Focuses on Tax Benefits for Members of the Military

May is National Military Appreciation Month, and the Internal Revenue Service wants members of the military and their families to know about the many tax [...]

FATCA Pressures Taxpayers to Reveal Accounts to IRS

The Foreign Account Tax Compliance Act is meeting with some success in prompting foreign banks to disclose the holdings of U.S. taxpayers to the Internal [...]

Employers To Chip In More 401(k) Dollars

Employees are being told to save more and more in their workplace 401(k)s. What about employers chipping in more? In a recent survey of global employers, [...]

IRS intends to amend rules so refunds match foreign withholding payments

The IRS on Tuesday proposed to amend its regulations so that taxpayers that are subject to withholding under Secs. 1441 through 1443 (chapter 3 of the Code, [...]

When It’s OK to Tap Your IRA

You've been saving diligently for your retirement, but now you need some of that cash to cover today's expenses. Can you get to it without incurring Uncle [...]

How the Mega-Rich Avoid Paying Taxes

It is rumored that some of the wealthiest Americans manage to pay less in taxes than some of their employees. They achieve this by one of two methods: doing [...]

Index, Active, or Both: 8 Questions to Help You Decide

As you think through your own portfolio's allocations to active and passive management (and I would put individual-stock investments under the "active [...]

Ten Facts About Fighting IRS Tax Bills

Everyone must pay federal income taxes, but you can contest many IRS tax bills. When you disagree with the IRS, procedure is important. Pay attention to the [...]