Taxes

What to Know About Section 1031 Exchange of Property

Section 1031 of the tax code allows taxpayers to enjoy a deferral from taxes if they relinquish business property in exchange for like-kind property. But just like most parts of the tax code, the rules get complex.

10 Crazy Tax Deductions the IRS Allows

While the odds are against you when it comes to being able to claim a pool or a private plane as a deduction, several exceptions give hope to taxpayers everywhere.

Foreign Bank Accounts and the IRS

Many Americans have been under the misconception that income earned on foreign soil is not taxable here at home, especially if taxes are paid in the foreign country. And that's simply not true.

5 Tips to Survive an Audit

The chances of getting audited are slim, but if you do find yourself in the hot seat with the IRS, you better be prepared.

Don't Want to Deal With the IRS? You Don't Have to

If you don’t feel like you have the time or resources to handle a matter with the IRS yourself, you can have someone step in and get the information necessary to help resolve the issue.

IRS Policy May Have Violated First Amendment

One group claims the IRS may have an "Israel Special Policy" under which applications from organizations holding political views than differ from the Obama Administration face tougher review.