If you haven’t filed your tax return by now, you should probably consider filing for an extension. It is a lot easier to file for an extension than it is to amend a return later for a mistake you made trying to rush your return to completion. Even more costly is if the IRS finds a mistake you made, they will assess underpayment penalties and interest.

Beginning with the 2014 filing year, dependents will no longer be able to claim a personal exemption if another taxpayer claims them on their return.

A few weeks ago we took a look at Married Filing Jointly (MFJ) vs. Married Filing Separate (MFS). This week we are going to take a closer look on how to properly file these returns.

Leaders of the Senate Finance Committee have formed five bipartisan working groups with the goal of analyzing the tax code and developing policy recommendations for comprehensive tax reform.

In most cases, the IRS has three years to audit after you file your tax return. If the IRS shows up after that, they may be too late. There are special rules, however, that can extend your audit purgatory.

Recently released Revenue Procedure 2014-61 contains annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules and other tax changes.