IRS Overpaid on Tax Credit for the Poor by Up to $13.6 Billion
IRS over-refunds for the Earned Income Tax Credit are one of the bigger line items in the U.S. budget, but few politicians in either party are looking to fix the EITC problem.
Tax refund
'How I'm Spending My Tax Refund'
From getting a Tibetan terrier puppy to saving for an engagement ring, here's how six people plan to spend their tax refunds this year.
Which to Do First? Pay Down Debt or Save for a Rainy Day
Millions of Americans have heavy debts and limited savings, so when a rare bit of spare cash appears, they face a conundrum: Should they pay down debt or build up savings?
If You Donated for Sandy or Sandy Hook, Don't Expect Tax Break
If you donated to disaster relief in the wake of Superstorm Sandy, or local charities after the Newtown, Conn., school shooting, you may not get the tax break you expected.
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.
Claim Your 2009 Tax Refund Before It Disappears
About 1 million people never filed tax returns in 2009 who should have, and the IRS owes them more than $900 million. But if they don't act before April 15, it'll be too late.
More Than 600,000 Tax Returns Delayed Due to Filing Errors
The IRS said 10%, or more than 600,000, of the 6.6 million returns claiming education credits it has received so far this tax season were improperly filed by tax software providers. As a result, those refunds could be delayed for as long as six weeks.
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.
Picking the Right Tax Preparer (Hint: It's Probably Not Uncle Ed)
The tax code is incredibly complicated, and it changes often, so hiring a skilled pro to help you file your tax return can be a good investment. But even that isn't simple: There are many kinds of tax preparers. Here's how to find the one who's right for you.
Could Itemizing Save You on Taxes? Find Out
Though we all groan about having to pay taxes, the government is nice enough not to tax us on everything we earn. There are two big buckets of deductions the government gives us: The first are called "above the line," and the second are called "below the line," and those are what we'll cover here.
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.
Your W-2 Tax Form Is Coming: 3 Key Numbers to Review
Tens of millions of workers will soon be getting W-2 tax forms. Included on that form is a lot of the key information that will determine whether you get a refund or will owe more to the IRS this year. And it also has three numbers you can use to improve your tax planning for the future.
Will Tax Refunds Go Out on Time? Late AMT Fix Has IRS Scrambling
The fiscal cliff compromise has been signed, clearing up a host of questions about taxes for the near future, and the year that just ended. But the long wait for answers left the IRS in limbo, and that may mean millions of refund checks will be delayed too.
Your Mid-Year Tax Checkup: 3 Quick Things to Do Now
The halfway point of the year is a good time to look at where you stand on taxes, because if you discover you need to make some changes, you still have time. Here are three things to be sure to consider.