IRS Issues Rules On Recognizing Same-Sex Marriages

Married same-sex couples will be treated for federal tax purposes just like opposite-sex couples, according to a recent IRS announcement. Same-sex couples who were married in a jurisdiction, domestic or foreign, that recognized their marriage as legal will be treated as married for federal tax purposes even if they live in a state that does not recognize same-sex marriages as …

Are Your Social Security Benefits Taxable?

Did you sign up for social security benefits last year? If so, you’ll be receiving a form showing the amount you collected — and you may have questions about how those payments are taxed on your federal income tax return.

Tax Tip Tuesday! New Law Includes A Payroll Tax Cut

There’s a new tax break this year, and you’ll want to update your budget to accommodate it. The compromise tax legislation passed in December included a payroll tax cut for 2011.