End of Bush tax cuts and additional Medicare tax will mean higher taxes, especially for wealthy. And inflation could push more into that group.
Have you seen the tax changes in President Obama’s health care bill?
Get ready to cough up a lot more to feed the federal trough.
Singles with an adjusted gross incomes of more than $200,000 ($250,000 on a joint return) will be hit by an additional 0.9% more tax on wages and self employment income. That’s your income before any deductions for medical expenses, taxes, interest, charitable contributions, casualty deductions and miscellaneous itemized expenses. That’s your income before any deductions for exemptions.
The child tax credit and other tax breaks mean more middle-class earners are paying no federal tax at all. Is that right?
As millions of us are staring down April 15, the big question we have is how do we pay Uncle Sam as little as possible?
Some folks have that answer totally figured out.
One-third of individuals who last filing season submitted a 2008 return paid no tax whatsoever, according to the Tax Foundation. The Tax Policy Center estimates 47% of Americans won’t pay taxes for 2009.
You can call, but the IRS would rather you checked online.
OK, where’s my refund? I filed early, as the IRS requested, but I still haven’t gotten my check.
If you’re in this situation, what do you do?
You can start by calling 1-800-829-1954. If you filed more than four weeks ago, call 1-800-829-4477.
But, the IRS really doesn't want to talk to you. They’d prefer you go to www.irs.gov and click on “Where’s My Refund.” If you e-file, you can get refund information 72 hours after the IRS acknowledges receipt of your return. If you file a paper return, the IRS doesn’t post refund information until three to four weeks after the return has been mailed.
Taxpayers in West Virginia, Rhode Island and Massachusetts have until May 11 to file federal returns.
The federal tax filing deadline is less than two weeks away, but some taxpayers who have other things on their minds, such as coping with recent storm damage, are getting a bit of a break from the IRS.
The tax agency has decided to give some victims of March's severe storms and flooding in West Virginia, Rhode Island and Massachusetts more time to get their taxes done.
IRS will accept 'pennies on the dollar' only if you meet certain criteria. But companies will take your money even when you don't.
We’ve all seen the ads. They promise to settle your tax debt for pennies on the dollar. They don’t tell you how many pennies (one hundred, more than likely). And, they all want their fees up front.
The secret word starts wit an “S” for “stupid,” followed by a “C” for “crazy,” “A” for “are you out of your,” and ends with “M” for “mind.”
These companies are playing the Offer in Compromise (OIC) game. Yes, it’s true that you can settle your tax debt for less than full value. But, there are hoops that you have to jump through that keep getting smaller, and not everybody qualifies.
More are asking residents to 'fess up on annual tax forms.
Will you cheat on your taxes again this year?
Time was when it was easy for citizens to avoid paying sales taxes on some purchases made online or out of state. Ebay and Craigslist wouldn't be as fun otherwise.
But skirting the law is getting more difficult. Now 24 states, plus D.C., are pricking shoppers' consciences with a special line on the tax return that requests a payment for sales taxes on any goods bought out of state, including those from online retailers -- up from 20 states in 2008.
IRS charges 5% a month for failure to file unless you get an extension.
It hurts enough to pay taxes. Let’s not add to the pain with the additional agony of penalties.
Taxes are what you pay the IRS if you follow their rules.
Penalties are non-deductible fines the IRS imposes on you if you don’t follow their rules.
File your return!
More people who lost jobs applied for benefits. If you overpaid, you can get that money back.
The New York Times reports that this year the Social Security system will pay out more in benefits than it receives in payroll taxes.
That wasn't supposed to happen, per government estimators, until 2016.
Stephen C. Goss, chief actuary of the Social Security Administration, tells the paper that the economy is a big reason for the earlier-than-expected arrival of this crucial tipping point.
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