Returning Value Blog

In the past, it was difficult to qualify for medical expense deductions. Now, some pundits would say that it is “nearly impossible.” Based on tax law changes that took effect in 2013, most taxpayers can deduct only unreimbursed expenses in excess of 10% of their adjusted gross income (AGI), up from 7.5% of AGI under prior law. For taxpayers who are aged 65 or older, the threshold remains at 7.5% of AGI, but only through 2016.

If you are expecting an income tax refund from the Alabama Department of Revenue, be aware that you may receive a letter in the mail asking you to go online to confirm your identity. This letter is legitimate and must be responded to in 30 days or, according to the letter, your refund will be denied.