Critical Case Comment

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Moving Expenses May Be Deductible

Taxpayers may be able to deduct certain expenses of moving to a new home because they started or changed job locations. Use Form 3903, Moving Expenses, to claim the moving expense deduction when filing a federal tax return.

Home means the taxpayer’s main home. It does not include a seasonal home or other homes . . . → Read More: Moving Expenses May Be Deductible

When Mortgage Lenders Monkey With Your Client’s Loan

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Critical Case Comment

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Helpful Tips to Know About Gambling Winnings and Losses

Taxpayers must report all gambling winnings as income. They must be able to itemize deductions to claim any gambling losses on their tax return.

Taxpayers who gamble may find these tax tips helpful:

Gambling income. Income from gambling includes winnings from the lottery, horseracing and casinos. It also includes cash and non-cash prizes. Taxpayers . . . → Read More: Helpful Tips to Know About Gambling Winnings and Losses

IRS Begins Issuing Notices to Taxpayers whose ITINs Expire by End of 2017

IRS YouTube Videos: Individual Taxpayer Identification Number – English | Spanish   IR-2017-128, Aug. 8, 2017

IRS began mailing letters this month to more than 1 million taxpayers with expiring Individual Taxpayer ‎Identification Numbers and urges recipients to renew them as quickly as possible to avoid tax refund and processing delays.

ITINs with middle digits . . . → Read More: IRS Begins Issuing Notices to Taxpayers whose ITINs Expire by End of 2017

Replacement Value or Foreclosure Value - Does Use of Collateral Matter?

. . . → Read More: Replacement Value or Foreclosure Value – Does Use of Collateral Matter?

Can a Chapter 13 Debtor Have Standing to Pursue Avoidance Actions? A Path May Remain Open for Debtor's Counsel

. . . → Read More: Can a Chapter 13 Debtor Have Standing to Pursue Avoidance Actions? A Path May Remain Open for Debtor’s Counsel

CFPB Warns Companies Against Tricking Consumers Into Expensive Pay-By-Phone Fees

Bureau Concerned About Companies Misleading Consumers About Pay-By-Phone Fees, Keeping Them in the Dark About Much Cheaper Options

RELEASE: July 31, 2017

CFPB issued a bulletin warning companies about tricking consumers into expensive pay-by-phone fees. The Bureau is concerned about companies potentially misleading consumers about the purpose and amount of certain pay-by-phone fees . . . → Read More: CFPB Warns Companies Against Tricking Consumers Into Expensive Pay-By-Phone Fees

Tips to Keep in Mind for Taxpayers Traveling for Charity

During the summer, some taxpayers may travel because of their involvement with a qualified charity. These traveling taxpayers may be able to lower their taxes.

Here are some tax tips for taxpayers to use when deducting charity-related travel expenses:

Qualified Charities. For a taxpayer to deduct costs, they must volunteer for a qualified charity. . . . → Read More: Tips to Keep in Mind for Taxpayers Traveling for Charity