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If you bought a home in 2008, you no longer need to play the waiting game with mailed reminders regarding your First-Time Homebuyer Credit. A new tool implemented on the IRS website now allows you to easily check your repayment obligation.

Many working taxpayers are eligible for the Making Work Pay Tax Credit, a provision created by the American Recovery and Reinvestment Act in early 2009.

If you purchased a home in 2009 or early 2010, you may be eligible to claim the First-Time Homebuyer Credit. Here are some things you should know about claiming the credit:

The Temporary Extension Act of 2010, made law March 10 just hours after the U.S. Senate passed it, extends unemployment benefits and health care subsidies for the unemployed.

The Research and Experimentation Tax Credit (R&D Tax Credit) is a general business tax credit for a company’s eligible wages, supplies, contract research and basic research payments during one of three possible base periods: Traditional Credit Calculation, Start-Up Credit Calculation and Alternative Simplified Credit. 

Here’s the dilemma. You have a traditional 401(k) that contains both after-tax and pre-tax dollars. You’d like to receive a distribution from the plan, convert only the after-tax dollars to a Roth IRA, and roll the pre-tax dollars into a traditional IRA. (By rolling over/converting only the after-tax dollars to a Roth IRA, you avoid paying any income tax on the conversion.)

You should aways keep a copy of your federal tax return for a variety of unforeseen circumstances. You may need a transcript or copy to answer an IRS inquiry or to apply for a student loan or home mortgage. 

A three-month tax filing and payment extension has been granted to all individual taxpayers who live in Suffolk County, Mass., including the city of Boston, and others impacted by the Boston Marathon tragedy.

Effective October 1, 2012, the sales and use tax rate for Meigs County (southeast Ohio) is scheduled to increase. The rate will change from 6.50% to 7.00%

July 1, 2014 will mark a key stage of implementing the Foreign Account Tax Compliance Act, or FATCA, which Congress enacted in 2010 as a way to crack down on offshore tax cheats. For the last three years, individuals have been required to disclose more about their overseas holdings. But come this summer, foreign banks and other financial firms must start reporting to the Internal Revenue Service on their U.S. customers and most of their assets. As a result, these U.S. taxpayers – as well as their financial and tax advisers – will be under more pressure to report their assets.