If you find you owe tax after completing your federal tax return but can't pay it all when you file, the IRS wants you to know your options.Here are four tips that can help you lower the amount of interest and penalties when you don’t pay the full amount on time.1....

If your lender cancelled or forgave your mortgage debt, you generally have to pay tax on that amount. But there are exceptions to this rule for some homeowners who had mortgage debt forgiven in 2012.Here are 10 key facts from the IRS about mortgage debt...

The term “capital asset” for tax purposes applies to almost everything you own and use for personal or investment purposes. A capital gain or loss occurs when you sell a capital asset.Here are 10 facts from the IRS on capital gains and losses:Almost everything you own...

Protecting taxpayers and their tax refunds from identity theft is a top priority for the IRS. This year the IRS expanded its efforts to better protect taxpayers and help victims dealing with this difficult issue.When your personal information is lost or stolen, it can...

The IRS receives thousands of reports every year from taxpayers who receive emails out-of-the-blue claiming to be from the IRS. Scammers use the IRS name or logo to make the message appear authentic so you will respond to it. In reality, it’s a scam known as...