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IRS EDUCATION TAX CREDITS
This $2,000 IRS tax credit can help pay for college in 2026, but there's an income catchTaxpayers pursuing education may benefit from the Lifetime Learning Credit for eligible expenses incurred. This credit covers 20% of up to ...- In 2005, a US couple sold their farm during bankruptcy, IRS sent them a tax bill, Supreme Court settled who paysThe case, Hall v. United States, involved Lynwood and Brenda Hall, who filed for bankruptcy under Chapter 12 of the US Bankruptcy Code in A...
- In 1977, US couple swapped apartment building, transferred property to a partnership the same day: Why a court told IRS their tax break staysThe US Court of Appeals for the Ninth Circuit upheld the decision in favour of Norman J. and Beverly G. Magneson in February 1985, rejectin...
- Paying off student loans? Deduct up to $2,500 in interest on your 2026 return, but watch the income limits that could cut it off earlyStudent loan borrowers may get a valuable tax break in 2026. The IRS still allows eligible taxpayers to deduct up to $2,500 in student loan...
- Digital nomads take note: The $132,900 foreign earned income exclusion for 2026 could wipe out tax on overseas income, here's the catchFor Americans earning money while living and working abroad, one of the biggest 2026 tax changes is the higher foreign earned income exclus...
- Facing a 7% Mortgage? Here's how family loans could help buyers avoid high mortgage interest and unlock valuable tax savingsMortgage rates are stuck above 7%. Waiting sounds smart, but rising home prices could quickly erase any rate savings. That is why some fami...
- In 1972, US investor received property, agreed to swap it same day, IRS challenged his tax treatment: Why court couldn't tax the exchangeThis case involves Joseph R. Bolker and his property called Montebello. Things got complicated and the issue eventually went all the way to...
- 'Honey please I need you...': Kimberly Guilfoyle reportedly asked Trump donor Eric Deters to pay off her $100,000 AmEx billKimberly Guilfoyle allegedly approached Republican donor Eric Deters for financial assistance ahead of her Senate hearing. She requested $1...
- In 1979, Oregon family sold 1,843 acres, IRS demanded tax, then mostly lost: How a ruling changed tax-deferred property exchangesBack in 1967, an Oregon family's sale of their 1,843 acres of timberland sparked a major dispute with the IRS. The case ended up in the Nin...
- US tax savings 2026: What are the best ways taxpayers can use to potentially lower their tax bill? Know the rulesWhen it comes to taxes, what you end up paying really depends on things like your income, financial goals, and how you file. Luckily, there...
- Using your FSA wisely? Up to $3,400 can be set aside pre-tax in 2026, and millions of workers forget to claim every single dollar of itThe 2026 FSA limit is going up to $3,400. That's $100 more than the 2025 limit. For workers who expect regular medical expenses, the higher...
- Tax credit vs deduction in 2026: How a $20,000 credit could cut a $50,000 tax bill to $30,000IRS tax credit and deduction explained: A tax credit and a tax deduction can both lower your tax burden, but they work differently. Here’s ...
- Own a rental property in 2026? You may be able to deduct property taxes - here’s what the IRS saysRental property tax deduction 2026: If you own a rental property in 2026, property taxes may be deductible as a rental expense. But the amo...
- Before you itemize, check this: 2026’s $16,100 standard deduction could beat your write-offsThe IRS has raised the 2026 standard deduction to $16,100 for single taxpayers, with higher amounts for married couples and heads of househ...
- Business owners, check this now: Group health premiums are fully deductible in 2026, and many owners still overlook these savings todayBusiness owners reviewing 2026 taxes shouldn't overlook employee health benefits. Group health insurance premiums are fully deductible, whi...
- Estate tax exemption for 2026 is $15 million: Here’s what families need to know about the IRS rules and $19,000 gift limitThe 2026 estate tax exemption is $15 million, while the annual gift tax exclusion remains $19,000 per recipient. Here’s what the IRS rules ...
- Expecting a bonus, stock compensation or property sale in 2026? Check your withholding before a surprise tax bill in 2027A bonus, stock compensation or property sale can change your 2026 tax picture. Here’s what taxpayers should know about withholding, estimat...
- Think your Roth IRA lowers your taxes this year? It doesn't, because contributions aren't deductible, and here is who should use it nowMany small business owners fund a Roth IRA expecting an immediate tax break. That calculation is flawed. Roth IRAs run on after-tax income....
- Could an IRS notice mean up to $1,000 for your retirement in 2027 and what do you need to do now to qualify for the new match?The IRS is mailing notices about a retirement benefit that will not start until 2027. The letter does not mean a $1,000 payment is coming n...
- Why is your $1,390 IRS payment missing? What Americans need to know about the payment rumor and Trump’s $2,000 tariff dividendIRS relief payment and $2,000 tariff dividend: Rumors of a new federal stimulus check are circulating online again. Digital posts and unsol...
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