The plan may make benefits available to employees, their spouses and dependents. It may also include coverage of former employees, but cannot exist primarily for them. See the questions below…

A cafeteria plan is a separate written plan maintained by an employer for employees that meets the specific requirements of and regulations of section 125 of the Internal Revenue Code.…

The 2011 hurricane season has started. Are your personal or your business’ financial and tax records and valuables protected in the event of a disaster? Here are some tips that…

WASHINGTON — The Internal Revenue Service issued guidance today on the treatment of basis for certain estates of decedents who died in 2010. The guidance assists executors who are making…

WASHINGTON — The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning Oct. 1, 2011. The rates will be: three (3) percent for overpayments…

WASHINGTON — U.S. taxpayers hiding income in undisclosed offshore accounts are running out of time to take advantage of a soon-to-expire opportunity to come forward and get their taxes current…

To apply for Innocent Spouse relief File Form 8857, Request for Innocent Spouse Relief and Attach a statement explaining why you qualify for relief. Here are some helpful links to…

Charitable contributions are deductible only if you itemize deductions on Form 1040, Schedule A. To be deductible, charitable contributions must be made to qualified organizations. Payments to individuals are never…

There are five types of deductible nonbusiness taxes: State, local and foreign income taxes State, local and foreign real estate taxes State, and local personal property taxes State and local…

The term “points” is used to describe certain charges paid to obtain a home mortgage. Points are prepaid interest, and may be deductible as home mortgage interest, if you itemize…