taxes 2010

Ask a roomful of homeowners what's so great about owning versus renting, and you'll hear them holler in unison: "the tax deductions!" And it's true -- homeowners who itemize their taxes are able to deduct 100% of their mortgage interest and property taxes from their income tax returns. That means...

We're only two weeks into December and I've already been approached by more than a dozen charities asking for donations. In a tough economy, those organizations have gotten pretty creative. I'm rarely asked to make a gift of straight cash -- or cash equivalent, such as checks or credit cards....

The Senate presented the final price tag of $858 billion for President Obama's tax deal Republican leaders and began debating the package Thursday night. The Senate aims to vote on the bill Monday, a week after it was first announced, The Wall Street Journal reported. It is expected to clear the...

Ambac Financial Group, which Monday declared bankruptcy, is suing the U.S. for attempting to seize $700 million in tax refunds. The bond insurer warns that seizing the refunds could ruin its chances of reorganizing.

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.

The IRS will stop mailing out paper forms and instructions for annual income tax returns as more people file their taxes online. About 11.5 million people who filed paper tax returns in 2009 got the tax information in the mail, The Washington Post reported. The mailing included 44 pages of...

The Senate will not vote on extending any of the Bush-era tax cuts until after the November election. "Democrats believe we must permanently extend tax cuts for the middle-class before they expire at the end of the year, and we will," Jim Manley, a spokesman for Senate Majority Leader Harry Reid...

High-income residents of New York City and Hawaii would have the highest marginal tax rates in the U.S. if Congress adopts the president's proposal to increase taxes for top earners, according to a study by the Tax Foundation. State, local and federal levies would result in a top 50.8 percent...

President Barack Obama will call for new rules allowing business to deduct from their taxes through 2011 the full value of the purchase of equipment. The planned deductions are intended to encourage companies to invest in equipment such as computers and utility generators, stimulating the economy...