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Audits

What's Deductible for Legal Fees When Couples Divorce

Julian Block | Posted 04.05.2014 | Divorce
Julian Block

The IRS prohibits any deduction for the cost of personal advice, counseling and legal action in a divorce. For example, there's no write-off for what a husband spends to resist his wife's demands for more alimony or to set aside a pre┬Čnuptial property agreement.

Audit Survival Strategies

Julian Block | Posted 03.15.2014 | Money
Julian Block

Just because you can back up every item on your return, don't think you can forget about an audit. Those relentless IRS computers may bounce your retu...

Tough Rules for Home-Office Deductions

Julian Block | Posted 03.04.2014 | Business
Julian Block

The law allows freelancers and other individuals who work at home to claim home-office deductions only if they pass a series of tests. You must use a ...

Financial Tips That Ease the Sting of Divorce

Julian Block | Posted 02.24.2014 | Divorce
Julian Block

Educate yourself for financial planning. In this lumbering economy, it's more vital than ever that you assume greater responsibility for your financial future.

No Tax Break if Client Stiffs You

Julian Block | Posted 02.11.2014 | Money
Julian Block

Why should freelancers forget about any kind of relief when they fill out their tax forms?

How The Tax Rules Work When You Refinance Your Home Mortgage

Julian Block | Posted 02.09.2014 | Money
Julian Block

Recent drops in interest rates have prompted millions of households to refinance their mortgages. Borrowers who refinance need to familiarize themselves with tricky tax rules on what is or isn't deductible for interest payments. Here are some reminders on how the rules work.

Jon Ward

IRS Commissioner Contradicts Earlier Testimony, Admits Tea Party Targeting Was Partisan

HuffingtonPost.com | Jon Ward | Posted 05.21.2013 | Politics

WASHINGTON -- The head of the Internal Revenue Service on Tuesday, in his second day of sworn testimony before congressional committees, admitted unde...

Give a Little Less to the IRS

Julian Block | Posted 01.07.2013 | Money
Julian Block

Individuals who reduce their income taxes with itemized deductions are aware that they can claim contributions to schools, religious organizations and other favorite causes. But many of them are unaware of other opportunities.

5 Simple Steps To Protecting Your Finances Post-Split

Julian Block | Posted 12.01.2012 | Divorce
Julian Block

There are simple steps that divorcing spouses should take to protect themselves financially.

Some Presidential Words on Federal Income Taxes

Julian Block | Posted 08.22.2012 | Money
Julian Block

Income taxes are such a pervasive and everyday part of our financial lives -- and such a central issue in presidential campaigns -- that they seem to have been around forever. They have not. Their debut is relatively recent.

Trouble Come Tax Time?

Julian Block | Posted 09.26.2012 | Divorce
Julian Block

Fact is, whether Brad, Angelina, Jennifer, Bristol, Levi, Snooki, or anyone else is hooking up, breaking up, or something in between, the odds and ends of their relationships are grist for the Internal Revenue Service mill.

Taxpayer Illiteracy: Persistent and Widespread

Julian Block | Posted 09.01.2012 | Money
Julian Block

How many of those surveyed aren't aware of their own tax brackets?

Medicare Surtaxes Hike Taxes for Upper-Incomers

Julian Block | Posted 09.01.2012 | Money
Julian Block

What's certain is that our lawmakers will enact even more complications to an already confusing tax code.

Should You Expect An Audit?

The Huffington Post | Rieva Lesonsky | Posted 04.23.2012 | Small Business

It may be a little late to dispensing tax advice, but often the best time to start preparing for next tax season is while the IRS is still fresh on yo...

5 Tax Audit Myths Debunked

Bob Meighan | Posted 06.04.2012 | Money
Bob Meighan

Getting audited by the IRS is one of the biggest fears for taxpayers. But what is the likelihood that you will be audited? And what are common audit triggers?

Making a Household Inventory List Can Save Time and Money

Julian Block | Posted 07.31.2011 | Business
Julian Block

Did you know that the tax code allows you to claim tax deductions for household damage caused by thefts, vandalism, fires, floods, hurricanes and others kinds of casualties?

Dave Jamieson

Chipotle Immigration Scandal Sparks Reform Debate

HuffingtonPost.com | Dave Jamieson | Posted 07.11.2011 | Business

WASHINGTON - Miguel Bravo's year-and-a-half-long stint working at a Chipotle in Washington, D.C., came to an abrupt end on March 9. That day, he says,...

Travel Deductions for Gamblers

Julian Block | Posted 06.04.2011 | Business
Julian Block

The tax rules for gamblers can be summed up simply: "Heads, the IRS wins; tails, gamblers lose." The faux-friendly feds routinely nail gamblers for taxes on their winnings.

Filing-Time Fantasies

Julian Block | Posted 05.25.2011 | Business
Julian Block

Most myths are fairly short lived. Some, though, just refuse to die. Take, for example, the one that makes the rounds every filing season about how to lessen the likelihood of an audit.

Extra Time to File Form 1040

Julian Block | Posted 05.25.2011 | Business
Julian Block

For most people, this year's deadline for filing Form 1040 is Monday, April 18. Miss the deadline and you could get slapped with a substantial, nondeductible penalty.

WARNING: IRS Audits Jump By 11 Percent, Wealthiest Targeted

AP | Posted 05.25.2011 | Business

WASHINGTON — The Internal Revenue Service is making it a bit riskier to cheat on your taxes. The tax agency increased the number of returns it ...

Contested Recounts Unlikely in Major Races, Despite the Hype

Rob Richie | Posted 05.25.2011 | Politics
Rob Richie

Recounts take place rarely: From 2000 to 2009, there were 18 recounts out of 2,884 statewide general elections.

IRS Launches Unit Aimed At Catchy Wealthy Tax Cheats

Reuters | Kim Dixon | Posted 05.25.2011 | Business

WASHINGTON (Reuters) -- Audits are underway at a new Internal Revenue Service unit set up to catch rich tax cheats hiding funds in tax shelters, but ...

Global High Wealth Industry Group Created: New IRS Brings Unit Will Target The Very Wealthy

Wall Street Journal | MARTIN VAUGHAN | Posted 05.25.2011 | Business

WASHINGTON -- A new Internal Revenue Service enforcement unit targeting the very wealthy will help the tax agency decode partnerships, offshore trusts...

IRS Audits of Millionaires on the Rise

AP | JIM ABRAMS | Posted 05.25.2011 | Business

WASHINGTON — There's at least one advantage to not being a millionaire _ less chance of being audited by the Internal Revenue Service. The tax ...