The end of 2009 saw the expiration of tax breaks that meant relief for millions of Americans. So on April 15, 2010 — even if you make less than $250,000 — expect to be paying more to the IRS.
It’s that time of the year again – when visions of sugar plums are replaced with visions of income taxes. If you’re like most people, you’re looking for ways to cut your tax burden as much as you can, without stepping outside the guidelines established by the IRS.
Many taxpayers may inadvertently get a little too enthusiastic in their efforts to cut their tax bills. Here are ten common mistakes we've seen in our practice that taxpayers make that can, and will, come back to haunt them: