If you’re self-employed and paying your own health insurance, you may be eligible for a large tax deduction.
The IRS offers a deduction for medical, dental or long-term care insurance premiums that self-employed people often pay for themselves, their spouse and their dependents. The insurance can also cover your child who was under age 27 at the end of 2012, even if the child was not your dependent.
Every taxpayer has a set of fundamental rights. The “Taxpayer Bill of Rights” takes the many existing rights in the tax code and groups them into 10 categories. You should be aware of these rights when you interact with the IRS. Also keep in mind that if you need representation or guidance, we have the ability to help you.
Publication 1, Your Rights as a Taxpayer, highlights a list of your rights and the agency’s obligations to protect them. Read on for a summary of the Taxpayer Bill of Rights:
Because of improved protections in recent years, the Internal Revenue Service stops the vast majority of fraudulent tax returns using stolen identities. But identity thieves and criminal syndicates continue to persist and evolve.
As the threat has changed, so has the IRS. In a new era of cooperation, the IRS, the states and the entire tax industry came together to identify what additional steps could be taken to better fight identity theft and better protect the taxpayers.
The Protecting Americans from Tax Hikes Act (The Act) of 2015, signed by the President, contains numerous extensions. The length of the extensions varies, as some tax provisions were extended through 206, some through 2019 and some permanently. Read on for the most notable extensions.