tax

The U.S. Senate is schedule to vote Tuesday on a bill that would repeal an unpopular tax-reporting requirement enacted as part of last year's health-care law. The House of Representatives approved the bill last month.

The IRS recently announced that the average federal income tax refund this year is expected to be $3,000. That makes the Wards of Smithfield, N.C., quite above average. After they had their taxes prepared this year, CNNMoney reported that Thelma and Dan Ward found out they're entitled to an...

Most economists agree that the way to get the economy moving is to get money into the hands of those most likely to spend it. That's why recent stimulus packages have included adjustments and tax credits meant to lower tax bills and, in some instances, boost tax refunds. It's apparently working:...

If you're one of the thousands of taxpayers who find themselves rushing around to file their federal income tax returns at the last minute, take heart. Following are nine tips to help ease your tax stress this season:

With tax season coming to an end in the next few weeks, taxpayers and the Treasury Department alike will be waiting to see the results of a pilot program for issuing refunds on prepaid debit cards. The program was rolled out to a limited pool of taxpayers this January. The program, which was...

Unfortunately, our current tax system is like a big game, with taxpayers looking for every deduction they can find that will help reduce their tax bill. While you should definitely take advantage of every deduction that you're entitled to, there's also a limit on how far you should push things....

The IRS has announced that it will be opening nearly 100 IRS offices across the country Saturday, March 26, to assist taxpayers with their tax issues. IRS offices will be open from 9 a.m. to 2 p.m. local time and will be staffed by IRS employees. Employees will be able to assist with tax return...

The IRS has announced a special voluntary disclosure initiative to return offshore money back into the U.S. tax system and help taxpayers with offshore accounts get compliant. The new initiative is called the 2011 Offshore Voluntary Disclosure Initiative (OVDI) and is similar to the 2009 Offshore...

The IRS has announced that there is $1.1 billion in previous unclaimed tax refunds waiting for nearly 1.1 million people who did not file a federal income tax return for 2007. The IRS estimates that half of these potential 2007 refunds amount to at least $640.

It can be pretty scary to realize that you're going to owe federal income taxes. Even though statistically, half of all taxpayers didn't owe anything in federal income taxes last year, tens of millions of taxpayers did owe the government. If you're one of those taxpayers who owes in 2010 -- but...