Tax Foundation

The IRS Wants to Tax Your Illegal Income

Believe it or not, the federal government requires that money acquired through illegal means be reported and taxed just like legitimate income. The instructions are right there on the income tax form.

Fiscal Cliff Calculators: How Much More Will You Owe If We Fall Off?

As the fiscal cliff fight between President Obama and congressional Republicans grows more heated, it's starting to look as if we might fall over the cliff. But what would this mean for your 2013 budget? We've rounded up the best fiscal cliff calculators we could find to help you figure that out.

The 5 Best-Run and 5 Worst-Run States in America

Each year, 24/7 Wall St. conducts an extensive survey of all 50 states, reviewing a raft of data on financial health, living standards, government services and more to determine how well each one is managed.

The 10 Most Tax-Friendly States for Retirees

When deciding where to live in retirement, people usually consider climate, cost of living, and proximity to friends, family, and their favorite activities. Well, state and local taxes should play a role in the choice to, because they'll surely have an impact on your finances.

Your Taxes Are Due!

Unless you've filed for an extension, today is the last day to get your taxes turned in to the IRS. It also happens to be Tax Freedom Day, when the average American has worked enough to have paid their taxes for the year.

107 Days: That's How Long It'll Take to Pay Your Taxes

More than three months of your hard-earned wages are going straight to your tax bill this year. Americans will spend an average of 29% of their income on federal, state and local taxes in 2012, the Tax Foundation announced Monday.

The 10 Worst States to Retire In: They're Frosty and Costly

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.

New York, Home Of Wall Street, Is Criticized for High Business Taxes

New York, whose economy is the world's 15th largest, has the least business friendly tax policies of any state, according to a report released today by the conservative Tax Foundation. The Empire State took the dubious distinction from New Jersey, which had it for three years in a row.

Hold the Tea Party, Some Voters Want Their Taxes Raised

Famed investor Warren Buffett and William Gates, Sr., the father of Microsoft's Bill Gates, say the rich should pay more taxes. In this economic downturn, some voters are choosing higher taxes over cuts in vital government services, stoking the ire of conservative groups.