The Pros and Cons of Getting a Tax Extension
Getting a six-month extension to file your taxes is easy to do and gives you some clear advantages if you're feeling crunched on time.
Internal Revenue Service
Don't Get Burned by Your Charitable Deductions
Making a charitable donation is one way many Americans help to reduce their overall tax liability, but if not done properly, you could lose that cherished deduction.
Fewer U.S. Taxpayers Expecting Refunds This Year
Fewer Americans are expecting the financial boost of a tax refund this year, an American Express survey shows.
Tips to Help You Finish Your 2012 Tax Return Now
If you've been putting off the onerous task of finishing your tax returns, these tips for filing your 2012 return will help you breathe easier.
IRS Audit Triggers: Six Red Flags
The IRS only audits about 1 percent of individual tax returns, so the odds are pretty low that yours will be picked --unless you have one of these 12 red flags.
Ready for Your Tax Refund? The IRS Is Ready for Your Return
Millions of Americans count on getting their tax refunds as soon as possible, but thanks to Congress, ASAP hasn't been all that soon this year. However, the IRS has worked through all the changes from the long-delayed fiscal cliff deal and is ready to start taking all of our tax returns.
Tax Bills for the Rich Approach 30-Year High
With Washington gridlocked again over whether to raise their taxes, it turns out wealthy families already are paying some of their biggest federal tax bills in decades even as the rest of the population continues to pay at historically low rates.
IRS 'Where's My Refund?' Website Flooded by Eager Taxpayers
The Internal Revenue Service has a message for taxpayers eager to learn the status of their tax refund: Please don't check the IRS "Where's my refund?" website and smartphone app every five minutes. Once a day is enough.
Your Tax Refund: What to Expect
The big question on the mind of everyone who expects to get money back from the IRS is when they'll receive their tax refund. But it's not just when you file your return that control that answer: The steps you take beforehand can make a big difference.
Identity Theft's Taxing New Trend: Scammers Are After Your Refund
Beware the hottest trend in identity theft: tax identity theft. This year, the IRS expects upwards of 1 million fraudulent tax returns will be filed by scammers stealing refunds. And while the IRS can't protect you, you can protect yourself.
Meet the 'Voice of the Taxpayer': Nina Olson Speaks for You
Think you're on your own if you want your tax-related concerns heard in Washington? Well, you're not. Since 1979 there's been an official advocate who has the ear of Congress, regularly making a stink on taxpayers' behalf, aiming for a fairer, simpler, system.
New Year's Reprieve: Senate Passes Fiscal Cliff Deal in Post-Midnight Vote
The Senate passed legislation early New Year's Day to neutralize a fiscal cliff combination of tax increases and spending cuts that kicked in at midnight. The pre-dawn 89-to-8 vote set the stage for a final showdown in the House, where a vote was expected later Tuesday or perhaps Wednesday.
Fiscal Cliff: 100 Million Taxpayers Could Face Delays, IRS Says
The IRS warned that as many as 100 million taxpayers - far more than previously estimated - could face refund delays if law makers' "fiscal cliff" negotiations fail to fix the alternative minimum tax (AMT) before year-end.
Higher Taxes in 2013? You're Already Paying Them for 2012
More than 70 tax breaks enjoyed by individuals and businesses expired at the end of 2011. If Congress doesn't extend them retroactively back to the beginning of this year, a typical middle-class family could face a $4,000 tax increase when it files its 2012 return.
Are American Shoppers About to Lose a Big Tax Break?
With Black Friday just a few days away, shoppers across the nation are getting their wallets and pocketbooks ready to rumble. What many don't realize, though, is that the federal deduction on sales tax that was part of the shopping equation for them in previous years may disappear come January.