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Irs Audits

Charitable Deductions for Animal-Rescue Volunteers

Julian Block | Posted 07.02.2014 | Money
Julian Block

When the annual reckoning with the IRS rolls around, their willingness to help out entitles them to write-offs for unreimbursed expenses incurred while they do volunteer work for rescue groups like the Humane Society of the U.S and the ASPCA.

Man, Woman, Money, Taxes

Julian Block | Posted 07.01.2014 | Business
Julian Block

The courts often have to resolve the troublesome question of whether a tax-free "gift" was actually a payment for services rendered. Not surprisingly, the question has come up when the IRS insisted on its share of sizable amounts received by women from men who weren't their husbands.

Tax Court Upholds Business-Expense Deduction for Topless Dancer's Breast Implants

Julian Block | Posted 07.08.2014 | Divorce
Julian Block

Just because you incur expenses for business reasons doesn't mean that they automatically qualify as deductible. The Internal Revenue Code stipulates ...

Congress Criticizes IRS Failure To Audit Most Big Partnerships

AP | STEPHEN OHLEMACHER | Posted 06.17.2014 | Politics

WASHINGTON (AP) — The Internal Revenue Service audits fewer than 1 percent of large business partnerships, according to a government report released...

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¬nuptial 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.

Government Shutdown Sparks Harsh IRS Reality

AP | STEPHEN OHLEMACHER | Posted 10.01.2013 | Politics

WASHINGTON -- The Internal Revenue Service says you must pay your taxes during the government shutdown. But don't expect any refunds. The IRS said Tu...

IRS Watchdog To Testify Again

Posted 07.16.2013 | Politics

By STEPHEN OHLEMACHER, ASSOCIATED PRESS WASHINGTON — The investigator who wrote a scathing report about the Internal Revenue Service targeting co...

An Open Letter to the Congressional Committee Investigating Politically-Motivated IRS Audits

Philip Radford | Posted 07.17.2013 | Green
Philip Radford

Greenpeace is offering to testify about being the target of politically motivated audits in 2004, because regardless of which party holds power, these abuses are egregious and must stop.

Why The Poorest Americans Are Struggling Right Now

Reuters | Posted 04.24.2013 | Business

By Patrick Temple-West WASHINGTON, Feb 22 (Reuters) - Federal tax refunds are arriving later than expected for some lower-income Ameri...

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.

A Dilemma for Stock Market Investors: Sell or Sweat

Julian Block | Posted 12.10.2012 | Money
Julian Block

Unless Washington acts in the lame-duck session after the November elections, top rates for capital gains from most sales of assets owned more than 12 months are scheduled to increase. They will go from 15 percent for 2012 to at least 20 percent for 2013.

How to Save Taxes While Being Kind to Animals

Julian Block | Posted 12.02.2012 | Money
Julian Block

Animal-rescue volunteers need to be mindful of tricky rules for donations, whether they take the form of gifts of cash or property or volunteer expenses. What follows is a summary of the many possibilities.

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.

Owe The IRS? Here's What To Do

The Street | Posted 10.29.2012 | Money

You filed your 2011 federal and state income tax returns on time and received, and probably already spent, your refunds. Then yesterday you got a noti...

Three Simple Rules To Keep The IRS Away

Forbes | Posted 10.27.2012 | Money

We all have to pay taxes and no one wants any trouble. Follow these three simple rules and you'll reduce your chances of grief from the IRS:...

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.

No Tax Break If Client Stiffs You

Julian Block | Posted 10.06.2012 | Money
Julian Block

Contrary to what many self-employed individuals believe, long-standing regulations usually prohibit most of them from claiming bad-debt deductions on their federal and state returns when they are unable to recover amounts due from clients and customers.

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.