Forget the IRS, State taxes and local taxes are big pieces of your tax puzzle - and one that varies widely depending on where you live. So which states charge the most, and which charge the least?
Tax planning is more complicated than ever now, thanks to the fiscal cliff we're hurtling toward and the tax increases it would bring. And while it's possible that Congress will steer us away from the cliff, if you're in a higher tax bracket, it's time to start doing some contingency planning.
While millions of taxpayers fear the fiscal cliff, some big tax increases have already taken effect this year. And without Congress moving quickly to take action, those hikes could add thousands to your tax bill come next April.
A day after winning EU approval for a huge bank bailout, Spain's government imposed further austerity on the country Wednesday as it unveiled sales tax hikes and spending cuts aimed at shaving $79.85 billion off the state budget over the next two and a half years.
There has been a pleasant lull in reporting about the debt ceiling and budget debate, but don't let the quiet fool you. Right now, 11 men and one woman are crafting a plan to reduce the federal budget deficit by $1.5 trillion over 10 years. They are the members of the Joint Select Committee on Deficit Reduction -- aka, the Deficit Supercommittee.
No, it's not a new plague. Rather, it's a little-known economics thesis that explains why uneven productivity gains in different sectors can have a huge impact on everything from consumer spending to government deficits. The latter is the nastiest side effect.
President Obama's blue-ribbon, bipartisan panel proposed today perhaps the most sweeping spending cuts in U.S. history to prevent the federal budget from careening off a fiscal cliff into never-ending debt. Here's the commission's hit list.
Despite the recession and Tea Party cries of "Taxed Enough Already," a surprising number of communities across the country voted to keep their tax burdens at current levels.
