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The IRS just like in 2009 and 2011, is again offering their Offshore Voluntary Disclosure Program (OVDP), which allows taxpayers shielding income and assets abroad with the chance to come forward to the IRS without incurring major penalties. Read More

Paying quarterly estimated taxes not only keeps the IRS off your back, but it also helps you avoid a huge — and sometimes inconvenient — tax bill each year. Read More

There is a moment of panic when you see that envelope. The IRS (or your state) is auditing you. First, take a breath. There are some critical steps you need to take now that will reduce the amount of stress you feel later, but you need to have a cool head, and accurately assess your situation. Read More

If you have a business loss, then you need to be particularly aware of this. That’s because the IRS is targeting businesses who report losses. And one of the first things they’ll do is challenge whether you have a business. No business means no deductions. Read More

When it comes to paying your taxes, you have a few options. The IRS accepts check, of course, and even offers a payment plan for those who are having difficulties paying what they owe. But should you pay taxes with a credit card? Read More

By Barbara Weltman. At the end of June, the U.S. Supreme Court said that the individual mandate under the Patient Protection and Affordable Care Act was constitutional, allowing all of the tax provisions in the law to go into effect as scheduled. Here are some of the actions you’ll have to take for Read More

Of great interest recently was the ruling by the U.S. Supreme Court about the constitutionality of the 2010 health care reform law. The IRS will be enforcing the penalty on those who don’t have health care coverage either through their job, individually, or state exchanges. Read More

By Caron Beesley. Contributing to a worthwhile cause has many benefits beyond the act of goodwill itself. It gives local business owners an opportunity to embed themselves in the community and network with other donors. And, of course, there are tax deduction benefits.

But what exactly Read More

When go to work for “the man,” you will be expected to fill out a Form W-4. If you want to adjust your withholding to better reflect your tax liability, all you have to do is fill out and turn in a new W-4. Read More