IRS

What are the tax consequences regarding a home sale if you and your spouse split up or divorce?

A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.

This marks the eighth year that the Security Summit partners have worked to raise awareness about these issues through the "Protect Your Clients; Protect Yourself" campaign.

The Internal Revenue Code includes several tax strategies that may help your clients better prepare for the potential costs of long-term care—here are three to consider.

Qualified deductible expenses include the cost of books, tuition, food, clothing, transportation, medical and dental care, entertainment and other amounts actually spent for the student's well being.

Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.

But Section 529 plans don’t have to be used only for your kids. One can be set up to reward virtually any beneficiary—including yourself!

When planning your travels this summer or any other time of the year—business or personal—just remember that the IRS pays close attention to expenses incurred.