What Happens When You Don't File Your Taxes
What happens to Americans who either forget or flat out refuse to file their taxes?
taxpayers
Fiscal Cliff: 100 Million Taxpayers Could Face Delays, IRS Says
The IRS warned that as many as 100 million taxpayers - far more than previously estimated - could face refund delays if law makers' "fiscal cliff" negotiations fail to fix the alternative minimum tax (AMT) before year-end.
Year-End Tips to Trim Your 2012 Tax Tab
Year-end tax planning is trickier this time around: Unless Congress compromises, all the Bush tax cuts will expire when 2013 arrives, and many popular tax breaks that expired at the end of 2011 may not get revived. Here's how you can lower what you owe the IRS, regardless of what happens in Washington next month.
Treasury Sells Big Chunk of AIG Stock at a Profit
The U.S. government cut its stake in American International Group Inc to about 21.5 percent on Monday, making a profit of $12.4 billion on the insurer's crisis-era bailout and bringing the unpopular rescue closer to its end.
IRS Offers Help to Late Taxpayers at Open Houses Saturday
For some of us, getting a financial fresh start might begin with paying back taxes. More than 1 million taxpayers had federal tax liens filed against them in 2010, a 60% increase from 2007. On Saturday, the IRS will host open houses at 74 Taxpayer Assistance Centers around the country to provide assistance with getting liens withdrawn and answer questions about ongoing issues.
A Peek Inside the IRS's Suggestion Box
In the complicated, confusing, and confounding world of taxes, we citizens have a little-known ally within the IRS: the Office of the Taxpayer Advocate, Nina Olson. Olson welcomes your thoughts via a suggestion box on tax reform. So far, she's received roughly 1,500 submissions, and she's still asking for more.
Exit Strategy: AIG's Plan to Repay Taxpayers
Insurance giant American International Group on Wednesday signed an agreement with the government that details its plan to repay its government loans. Meanwhile, The Wall Street Journal reports that the government plans to sell much of AIG's stock in the next few months.
Was Washington Right to Bail Out GM and Wall Street?
Historians will look back on Washington's bailout of GM and Wall Street as the right move. That's because it's now clear that the costs of doing nothing would have been far higher, and it turns out that taxpayers may suffer only limited losses on this economic Hail Mary pass.
Chrysler May Soon See More Federal Aid
In addition to state tax credits from Michigan -- and the billions of dollars already loaned it by U.S. taxpayers in the form of last year's bailout -- Chrysler may soon get approval for billions more in loans from the Department of Energy.
Bernanke: U.S. Deficit Is Growing Economic Threat
The Federal Reserve chief warned Monday that the government must figure out how to shrink huge budget deficits, which now pose a "real and growing" threat to the U.S. economy.
AIG Finalizes Its Plan to Repay the U.S. for Bailout
After months of planning, AIG announced Thursday that it had entered into an agreement with the Treasury Department and the Federal Reserve Bank of New York about how it will repay in full its obligations to the U.S. government and regain its independence.
Taxes are Fair, Say a Growing Number of U.S. Taxpayers
In spite of growing discontent about the federal government in general, a surprising number of Americans say they're comfortable with the taxes they're paying, according to a Pew Research Center poll released Monday. Half of those surveyed say they're paying their fair share.
New Stadiums Strike Out for Investors and Taxpayers
The developer of the Yankees Stadium parking lots may be headed for default on the $237 million in bonds that were used to finance the construction. And the Yankees are hardly alone. Sports teams around the country are struggling to attract cash-strapped fans.
Can America Get a Return On Its GM Investment?
GM filed for an IPO this week, which means that the U.S. government will soon be able to start selling off its 61% stake in the automaker. So what are the odds that the taxpayers will break even on their $42 billion gamble in General Motors, and what would it take for them to do so?
AIG Prepares for First Bond Offering Since Bailout
American International Group is laying the groundwork for its first debt offering in two years, an offering that could be a key test of whether investors think the insurance giant can stand on its own and ultimately repay U.S. taxpayers for its bailout.
Billionaire in Heated Battle Over Detroit's Ambassador Bridge
Manuel "Matty" Moroun enjoys a monopoly over one of the nation's busiest international trade routes between Detroit and Ontario. But now, as his Ambassador Bridge is starting to show its 81 years, Moroun has found himself frantically defending his claim to the lucrative trade business that takes place across the Detroit River each year.
