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What You Need to Know about the Health Insurance cost on Form W-2

You may be wondering if you have to report the value of your employer-sponsored health insurance coverage, which may appear on your W-2, Wage and Tax Statement when you file your 2013 federal income tax return. Here is what you need to know about the value shown on your W-2. The health care law requires […]

2014 IRA Deadlines Are Approaching

Here is what you need to know for 2014  Provided by Milton Cooley  Financially, many of us associate April with taxes – but we should also associate April with important IRA deadlines.  *April 1 is the absolute deadline to take an initial IRA Required Mandatory Distribution (RMD). *April 15 is the deadline for making annual […]

Special Exclusion for Cancelled Home Mortgage Debt

If a lender cancels or forgives money you owe, you usually have to pay tax on that amount. But when it comes to your home, an important exception to this rule may apply in 2013.  It is our understanding that this exclusion expired on December 31, 2013 and has not been renewed by congress.  Therefore, […]

Four Tax Facts about the Health Care Law for Individuals

There are a few basic tips to keep in mind about the new health care law. Health insurance choices you make now may affect the income tax return you file in 2015. 1. Most people already have qualified health insurance coverage and will not need to do anything more than maintain qualified coverage throughout 2014. 2. If […]

Affordable Care Act for Individuals

The Health Insurance Marketplace – Learn about Your Health Insurance Coverage Options If you don’t have coverage or if you have it but want to find out about other options; help is available at the Health Insurance Marketplace. While no one is required to use the Marketplace, if you need insurance, it may be right […]

IRS Reminds Individuals of Health Care Choices for 2014

Everyone has important decisions to make concerning health care coverage in 2014.  Starting in 2014, you must choose to either have basic health insurance coverage (known as minimum essential coverage) for yourself and everyone in your family for each month or go without health care coverage for some or all of the year. If you […]

Beware of Fake IRS Emails and Phone Calls

Tax scams that use email and phone calls that appear to come from the IRS are common these days. These scams often use the IRS name and logo or fake websites that look real. Scammers often send an email or call to lure victims to give up their personal and financial information. The crooks then […]

Form W-2 Missing? IRS Can Help

If you worked as an employee last year, your employer must give you a Form W-2, Wage and Tax Statement. This form shows the amount of wages you received for the year and the taxes withheld from those wages. It’s important that you use this form to help make sure you file a complete and […]

What if I haven’t received my W-2

View this IRS message to see what you should do if you don’t have your W-2 yet.

Choosing the Right Filing Status

Using the correct filing status is very important when you file your tax return. You need to use the right status because it affects how much you pay in taxes. It may even affect whether you must file a tax return. When choosing a filing status, keep in mind that your marital status on Dec. […]