While preparing 2012 individual tax returns in early 2013, we noticed a trickle of problems on Schedule K-1 from partnership investments in IRAs. That trickle became a flash flood this latest tax season.

U.S. taxpayers reported $9.1 trillion in adjusted gross income (less deficit) for tax year 2012, according to the most recent IRS Statistics of Income Bulletin.

In July, the Securities and Exchange Commission, or SEC, issued new rules for money market funds.

The Tax Court sided with the plaintiff in a recent case involving the rules surrounding the home office deduction. The deduction is allowed for the portion of a residence that is used exclusively and on a regular basis as the principal place of business for a taxpayer.

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.