Tax guidance and resources

Latest Articles

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  Supreme Court eliminates state tax-filing hassles for same-sex married couples

  The Supreme Court ruling has simplified lingering tax tangles for couples in many states.

  3 min read Jun 26, 2015
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  Estate tax issues of same-sex marriage

  Estate taxes now treat same-sex couples more equitably, thanks to the Supreme Court.

  4 min read Jun 26, 2015
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  What if you don’t file the FBAR on time? What are the FBAR penalties?

  If you have a foreign bank account, the IRS gives you a short time to file the FBAR.

  2 min read Jun 16, 2015
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  How to figure taxes on pension from a Qualified Domestic Relations Order, or QDRO

  If you have a Qualified Domestic Relations Order, then you are treated as the plan participant.

  2 min read Jun 09, 2015
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  Hubby broke into Coverdell Education Savings Account. Must we pay estimated taxes?

  Whether you must pay taxes now or next year depends on how much you’re withholding.

  2 min read Jun 02, 2015
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  Robbed retirement fund to pay off house. Are there any tax loopholes to help us?

  Before paying off a mortgage with 401(k) funds, it’s smart to talk with a tax expert.

  3 min read May 28, 2015
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  Can military family get capital gains home-sale tax break?

  You have to meet certain IRS requirements to qualify for the home-sale exclusion.

  2 min read May 19, 2015
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  Get stepped-up cost basis on inherited condo?

  You may have to consult an accountant to see if your cost-basis calculations were correct.

  2 min read May 07, 2015
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  Tax fraud victim? How to report ID theft

  No, you don’t have to pay the IRS the defrauded amount, but do take these steps.

  2 min read May 05, 2015
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  Why not deduct rental losses?

  If the rules prevent you from deducting losses now, those losses won’t be gone forever.

  2 min read Apr 28, 2015
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  Must US citizen working and living abroad file taxes in the US?

  Yes, you must file taxes when working abroad, but you won’t be double taxed. Here’s why.

  2 min read Apr 23, 2015
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  Do I have to pay taxes on inheritance?

  You do have to report the income, but you likely won’t have to pay much in taxes.

  2 min read Apr 14, 2015
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  The IRS offers ways to save on college

  Want help in paying $4,000 of your college costs? Then look no further than your tax return.

  4 min read Apr 07, 2015
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  Cash in 403(b) plan and take the tax hit?

  Consider all these factors before you draw money out of your 403(b) plan.

  2 min read Apr 07, 2015
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  New York state resource page

  Bankrate plugs you into all the resources you need to learn about taxes in New York.

  Apr 07, 2015
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  Can I deduct the electric bills I paid for Dad?

  Generosity to family members may not result in big tax savings. Here’s what you can deduct.

  2 min read Apr 02, 2015
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  Must we pay tax on cruise gift cards?

  You must report the cruise gift cards as ‘other income,’ but you may also get a deduction.

  2 min read Mar 31, 2015
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  8 tax breaks that cost Uncle Sam big money

  As Congress tries to reduce the deficit, some tax breaks may be on the chopping block.

  5 min read Mar 30, 2015
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  Never heard of FBAR filing. What do I do?

  You won’t be charged penalties if you reported the income, but this is what you must do now.

  2 min read Mar 26, 2015
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  Illinois state resource page

  Bankrate plugs you into all the resources you need to learn about taxes in Illinois.

  Mar 26, 2015