If you received unemployment benefits this year, you must report the payments on your federal income tax return. Here are four tips from the IRS about unemployment benefits. 1. You
The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a
The Internal Revenue Service will start processing tax returns for the vast majority of filers on Jan. 30. The agency had planned to open the tax season on Jan. 22,
WASHINGTON — The Internal Revenue Service today issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving
Hiding income offshore, identity theft and return preparer fraud topped the IRS’s list of tax scams in 2011. The Internal Revenue Service issues an annual list of the top 12
There is no doubt that good record-keeping will help you remember the various transactions you made during the year, which in turn may make filing your return a less taxing
If you are in business for yourself, or carry on a trade or business as a sole proprietor or an independent contractor, you generally would consider yourself self-employed and you