Most K-12 expenses are not deductible. This includes private school tuition and any required uniforms. For children under the age of 13, the cost of before or after school day care may qualify you for a tax credit.

The Social Security Board of Trustees reports the combined asset reserves of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds are projected to become depleted in 2033.

The Internal Revenue Service recently released draft versions of several forms for employers and individuals to comply with the Affordable Care Act, along with draft versions of more common forms such as the 1040 and 1040EZ for next filing season.

Earlier last week, two courts in two different districts issued opposing decisions regarding tax credits for those who bought health insurance through federal exchanges.

I recently attended a seminar on estate planning. The attorney presenting the class provided a nicely summarized list of important information that everyone should have prepared prior to their death. She called this list a “FROG File” (For Your Own Good).

The Internal Revenue Service allowed an estimated $13.3 billion to $15.6 billion to be paid in improper claims for the Earned Income Tax Credit last fiscal year, or about 22 to 26 percent of all EITC payments, according to a new government report found the IRS continuing to be noncompliant with a 2010 law that sought to limit improper payments.