The penalty for not buying health insurance by March 31, 2014 was $95 per adult or 1 percent of your income. The tax penalty for 2014 increases to $325 or 2 percent, whichever is higher. On Thursday, officials announced an addendum: 2 percent of your income up to $2,448 per person and $12,240 for a family of five.
The US's tax system is turning into a two-tier tax system, with wealth as the determining factor, writes Howard Gleckman. Many affluent and influential people and organizations have almost unlimited power when it comes to their taxes.
A mother of a young teacher is asked to help chaperone a student trip across Italy. Along the way she thinks characteristics of leaders, and her life as a parent comes full circle in helping to inspire the next generation of leaders.
What is IRS form 5498? Financial adviser Brian explains the IRS form, and what to tax payers should do with the form.
The House Ways and Means Committee approved expanding the child tax credit and higher education tax breaks. In other tax news, H&R Block offers a map outlining state income tax requirement to help same-sex couples' IRS filings.