IncomeTax
Even if you have nothing to hide, an IRS audit is no picnic. But have you ever wondered why some tax returns get intense scrutiny while most sail through the review process? Here are 12 red flags that could increase your chances of drawing unwanted IRS attention.
The 10 Worst States to Retire In: They're Frosty and Costly
2:55PM 1/13/2012
TopRetirements.com has named the 10 worst states in which to retire, based in factors such as taxes and climate. Every retirement is unique, but before you end up living out your golden years chilly and underfunded, check out this list.
Tax Refunds Are Shrinking -- and That's a Good Thing
6:30AM 1/12/2012
2011 wasn't a good year for those expecting big checks from the IRS. Not only were fewer refunds delivered, but the average refund was smaller. That's no surprise in this economy, but it's also a sign that Americans are getting smarter about how we handle our taxes.
Republican Presidential Candidates: Which One Is Best for Your Wallet?
12:45PM 10/18/2011
From Herman Cain's 9-9-9 plan to Ron Paul's proposal to nix the income tax, the GOP presidential candidates have floated a range of ideas for jump-starting the U.S. economy. But will any of them jump-start your home's economics?
Memos to the IRS: A Peek Inside Its Suggestion Box
2:00PM 7/08/2011
In the complicated, confusing, and confounding world of taxes, we citizens have a little-known ally within the IRS: the Office of the Taxpayer Advocate, Nina Olson. Olson welcomes your thoughts via a suggestion box on tax reform. So far, she's received roughly 1,500 submissions, and she's still asking for more.
Male, single, age 45 and under.
Big spender.
Sounds like a dating ad from the classifieds, right? Not quite. That, according to a study by the advertising and marketing firm DDB Worldwide Communications Group, is the profile of the person most likely to cheat on a federal income tax return.
Congressional leaders have been battling over the soon-to-expire Bush tax cuts for more than a year. Yet, there's still no word on whether Congress will vote to extend the cuts, allow the cuts to expire or work out some compromise package that might do a little of both.
At the center of the tax...
'Millionaire's Tax' popular with cash-strapped states
9:00AM 3/22/2010
As state income tax revenues creep downward, rates are slowly headed the other way: upward. As fewer taxpayers pay in (due largely in part to heavy unemployment rolls and lower incomes), states are grasping at other sources of revenue. At the top of their lists? Millionaires.
As of the end of last...
To help Americans and businesses struggling during this recession, lawmakers signed off on many tax changes that took effect for the 2009 tax season. One of the biggest was the American Recovery and Reinvestment Act, according to the Journal of Accountancy. Areas to pay attention to include the...
It's an annual rite of passage that almost every taxpayer goes through: Interpreting the latest and greatest IRS rules. Of course, that leads to lots of tax questions.
Luckily, we have the answers. Below tax blogger and attorney Kelly Phillips Erb tackles some of your top tax questions.
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