irs
Getting married should be one of the happiest events of your life. But even if everything goes perfectly on your special day, the IRS may spoil the party. That's because getting hitched means big changes on your taxes. Here's a quick rundown of what you need to know.
Nobody enjoys paying taxes, so hearing that Congress is cutting the IRS budget might inspire you to applaud. But this is the agency that makes sure the rest of government gets funded, and stops the unscrupulous from dodging their fair share of the burden.
We're Getting Taxed for Frequent Flier Miles? Thanks a Lot, Citibank
10:00AM 1/31/2012
It's tax season, which means the annual deluge of W-2s, 1099s and other financial forms. But thousands of Citibank customers will have an extra surprise in their mailboxes: 1099 forms reporting their frequent flier miles as income.
Cashing Your Tax Refund Without a Bank Account Just Got Easier
3:40PM 1/19/2012
As many as 60 million Americans have limited or no access to banking services, and many of them will get tax refunds this spring. Typically, this is where payday lenders come in, cashing the checks for big fees, but now there's a new cashier offering to do it for much less: Walmart.
Over the years, taxpayers have concocted a lot of zany arguments to justify tax deductions. We've come up with what we think are the 10 most creative ones that the tax courts decided didn't quite pass muster.
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.
Congress is damaging the Internal Revenue Service by shortchanging its budget, making it harder for the agency to help taxpayers, detect fraud and bolster revenue collection even as budget deficits surge, a government watchdog said Wednesday. "The imbalance between its workload and its resources is becoming unmanageable," Nina E. Olson, the national taxpayer advocate, wrote in her annual report on the IRS.
Tax Season, Scam Season: How to Avoid the Fake Refund Cons
2:30PM 1/06/2012
Uncle Sam isn't the only one looking to collect from taxpayers this year: A rapidly growing number of Internet scammers are also using the guise of the IRS to siphon money out of consumers' pockets, security experts say.
Financial Scams 2012: The Latest Twists in the Ever-Evolving Art of the Con
7:00AM 1/05/2012
You're not going to fall for the old Nigerian prince scam anymore -- but the fraudsters know that, and they've moved on, too. Here are some financial scams that made the rounds in 2011 -- and will likely be back in some form this year.
They say good things come to those who wait. They also say he who hesitates is lost. But when it comes to half a dozen juicy tax breaks, it's the second "they" you should listen to, because he who waits until Jan. 1, 2012, to take advantage of them will be out of luck.
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