Can a 529 Plan Be Deducted From a 2007 Federal Income Tax Return?

Answer The federal government lets you take a deduction for contributions to certain retirement accounts, such as a Roth IRA, but 529 college savings plans don't offer a tax break. However, starting a 529... Read More »

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Can home refinance costs be deducted from a federal income tax return?

The Internal Revenue Service states that if you itemize, you can deduct your closing points as interest, over the life of the loan. So, if you pay $2,000 in points and have a 30-year mortgage, you ... Read More »

Who is required to file a 2007 federal income tax return?

In 2007, anyone with earned income should file an income tax return if any federal tax was withheld from their gross earnings to get a refund. Those people with benefits from Department of Veterans... Read More »

About Federal Income Tax Deducted From Your Paycheck?

The federal government requires that you pay estimated taxes on your income as you earn it rather than in one large payment when you file your tax return. Most people satisfy this requirement throu... Read More »

What is a federal income tax return?

Yearly federal income tax returns, supervised and enforced by the Internal Revenue Service, are an important method for funding the expenses of the national government. Form 1040, 1040A, and 1040EZ... Read More »