Tax Planning
IRS warns of scams intended to steal identities
The IRS has issued another warning about e-mail and telephone scams that use the IRS name as a lure. You should be particularly aware of scams involving the new rebate checks. The goal of all these scams is to trick you into revealing personal and financial information, such as Social Security, bank account or credit card numbers, which the scammers can use to commit identity theft. (5/12/2008)
Tax planning should be adjusted over the years
Income tax planning involves the judicious use of a small number of strategies. And the appropriateness of each strategy varies over time. Knowing when to apply each strategy requires an understanding of your current tax situation, a prediction of your future tax picture and an educated guess about future changes in the tax law.
(4/28/2008)
Settlement with broker results in capital gain income
In a recent letter ruling, the IRS has determined that an amount received by a husband and wife in settlement of a dispute over a brokerage account was taxable as long-term capital gain in the year of its receipt. (4/14/2008)
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