ARTICLES

The Tax Court has once again concluded that net earnings from self-employment is not reduced by a net operating loss carried forward or carried back to the tax year at issue. Joseph DeCrescenzo and the IRS both agreed that he earned $131,660 of...

An S corporation shareholder-employee's $24,000 annual salary was unreasonably low, the Court of Appeals for the Eighth Circuit concluded, so it allowed the IRS to reclassify $67,000 in dividend payments as salary. As a result, the corporation owed...

The IRS has issued a warning to senior citizens and other taxpayers about an emerging scheme that tempts them to file tax returns to claim fraudulent refunds. The scheme carries a common theme of promising refunds to people who have little or no...

Two federal tax credits - the American Opportunity Credit and the Lifetime Learning Credit - may help offset the costs of higher education for you or your dependents. To qualify for either credit, you must pay postsecondary tuition and fees for...

Employers will have more time to file the required certification form for employees hired on or after Nov. 22, 2011, and before May 22, 2012. The IRS has released the guidance and forms that employers can use to claim the newly expanded tax credit...

You love your children. You'd fling yourself in front of a speeding locomotive to protect them. Here are eight reasons to appreciate them even more when you're preparing your tax return: 1. Dependents - In most cases, you can claim a...

Last week President Obama released his federal budget proposals for fiscal year 2013. On the same day, the Treasury released its General Explanations of the Administration's Fiscal Year 2013 Revenue Proposals (the so-called "Green Book")....

You have plenty of reasons to speed up the process of filing your individual tax return. The primary reason has always been that, if you're expecting a refund, you shouldn't wait any longer than necessary to receive it. Add identity theft to your...

Most Americans are well aware that our founding fathers were not too keen on the taxing policies of the British government. One draconian measure passed by Parliament in 1784 during the reign of George III was the Hat Tax. The tax was designed to...

Some employers who are seeking to snare top talent offer deferred signing bonuses - often in the form of loans - to key employees. The loans are scheduled to be forgiven later, after the employees prove their commitment to the new organization. A...

Owners of qualified small business stock, other than shareholders who are corporations, may elect to roll over capital gain from the sale of the stock. To qualify for rollover treatment, replacement small business stock must be purchased within 60...

The Departments of Treasury and Labor have unveiled two executive actions to expand the transparency of 401(k) fees and broaden the availability of retirement plan payout options. The purpose of these actions is to encourage the use of annuities to...