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IRS FreeFile Now Available

IRS FreeFile is now available. Free File is available only at, thanks to a partnership between the IRS and the Free File Alliance, a consortium of 14 leading tax software companies that make their branded products available for free. Free File software can help taxpayers with tax preparation, including the health care law that will affect almost everyone.

Health Insurance Mandate Tax Penalty

A taxpayer who is without minimum insurance coverage and is not eligible for an exemption, is liable for a tax penalty. Information on exemptions is here. Line 61 on Internal Revenue Service Form 1040 or Line 38 on the 1040A tax form requires taxpayers to self-declare whether they had health care coverage in 2014. IRS Publication 5187 on the Health Care Law.

Fixed Indexed Annuities

Annuities, at their simplest, are money turned over in the present to be distributed later, often in a stream of monthly checks. But fixed indexed annuities are something else entirely.

5 Reasons Your Credit Card Application Was Rejected

If your application gets rejected, it’s natural to feel a little miffed – especially when you’re not sure why you were denied. Here are five common reasons credit card applications get turned down.

Using a Calendar to Help your Finances

Want to make good on your New Year’s resolution to improve your personal finances? Grab your calendar, it can be an incredibly effective financial planning tool.

Illinois State Income Tax Decrease

Yes, sometimes your taxes do go down! Here’s a bulletin explaining the recent tax decrease.

Keeping Your Finances on Track

One third of people who responded to a recent study plan to make a money resolution in 2015—with the top three being to save more, pay off debt and spend less. Here’s some tips for keeping your finances on track.

Credit Card Traps

Beware, many credit card companies are employing sneaky tricks to make sure you don’t get the best transfer offers — even after you’ve been approved for them — or that you end up paying more than you should.

What If Your Wages are Garnished?

If you’re falling behind on paying off your debts, beware. You don’t want to end up one of the millions of Americans who get their pay garnished.

401(k) After-Tax Rollover Rules

IRS rules if you have after-tax money in your 401(k) retirement account, you can roll it into a Roth IRA where it will then grow tax-free (as opposed to tax-deferred). You don’t have to pay pro rata taxes on the distribution, accounting for the percentage of the pre-tax money in your 401(k).