The grandmother can't take the dependency exemption if the mother claims the child for the Earned-Income Tax Credit any longer under the new rules.

I once cashed out a bunch of savings bonds in the middle of the year and forgot about them. Then I got a nice little love note from the IRS saying they'd corrected my return.

There is this loophole, which is strange.

A day trader could have a couple thousand trades while even a more typical investor could still have 20 to 40 trades during a year. If you have a bunch of trades, you'd end having to pay an outrageous tax preparation fee because there'd be so many trades that would have to be typed in.

But don't just slap $10,000 of miscellaneous expenses on your return. You need to explain that you work for company XYZ and do not get reimbursed for XYZ expenses.

You'd be amazed at the kind of things people come in and think they can deduct. If you're not sure about a deduction, talk to someone who knows the law, not your Uncle Louie.