Understanding what triggers an audit can help you steer clear, since not all audits happen by chance — certain situations ...

“Taken as a deduction, foreign income taxes reduce your U.S. taxable income,” the IRS said. But the IRS noted “in most cases, it is to your advantage to take foreign income taxes as a tax ...

Taxpayers who fail to file foreign information returns run the risk of an unlimited IRS audit period under section 6501(c)(8) ...

What's interesting about foreign taxes on income is that they can be claimed as either a tax credit or a tax deduction, though the IRS advises most taxpayers will benefit more from taking the credit.

On a federal level, the IRS doesn't offer a universal tax incentive for all renters. The foreign housing deduction is the closest thing to a federal deduction available for renters. So ...

Taxpayers who were tricked as a result of a traditional investment scam may be entitled to tax relief—taxpayers who lose ...

It was indeed possible to claim tax deductions in certain scenarios, such as medical costs for licensed service animals, performance animals, donations to qualifying nonprofits that support animal ...

Though many states have some sort of tax benefit for renters, not everyone renting a home or apartment qualifies.