Many taxpayers overlook the long list of deductions that they may take when completing and filing their tax returns. The IRS has estimated that millions of taxpayers overpay their taxes each year mainly because they fail to avail themselves of…
It’s a traumatic experience to lose a spouse. While there is little that can be done to replace this physical and emotional loss, the Tax Code provides some relief for newly widowed taxpayers. Here is a summary of some of…
Some deductions like charitable contributions are conducive to tax fraud. These tax-related events are subject to the utmost IRS scrutiny. Therefore, taxpayers are subject to very detailed rules which require them to produce a specified form of documentation as proof…