Does the IRS Owe You Money from 2009?

tax refund 2009Not too long ago, the IRS announced that taxpayers are owed more than $917 million from 2009. The refunds are due to taxpayers who might not have filed returns in 2009 – and more than half of the refunds are likely to be for more than […]

March 22nd, 2013|Tax Filings|0 Comments

Do You Have to Pay Taxes on Canceled Debt?

irs tax on cancelled debtWhen you run into tough times, and have debt canceled or forgiven, you are often so relieved for the problem to be over that you don’t think about the tax consequences. In fact, you might be forgiven for thinking that there aren’t any tax consequences. After all, you don’t […]

Facts about Filing Your Federal Tax Return as a Same-Sex Couple

same sex gay marriage tax problemsThere has been a lot of attention paid recently to the issue of same-sex marriage. In some states, same-sex couples can be married, and treated as married couples for state taxes purposes. It is important to understand, though, that there is […]

Filing Taxes as a Dual Citizen

dual US citizen taxes When you are a citizen of the United States, Uncle Sam expects you to pay taxes – no matter where you live. This is also true of dual citizens. If you have dual citizenship, even if you aren’t a US resident, you are still supposed to file a tax […]

Tax Deductions That Can Be Taken Without Itemizing Your Return

above the line tax deductionsAn itemized tax deduction is a qualified expense by which a US taxpayer can claim on their Federal tax returns in order to lower their taxable income. Many tax deductions are subject to the 2% limit, which means you can only deduct expenses that are […]