If you're a small-business owner, chances are you're hiring contractors as well. Just make sure they're not employees. Or else your business expenses could take an unexpected leap--courtesy of the IRS.
If Obamacare is here to stay, funding for it must be addressed. The Obama administration can't use gimmicks like a tanning tax to distract from who is really going to pay for this law: policyholders who will see the cost of their insurance skyrocket.
Few things cause more concern than a letter in the mail from the Internal Revenue Service (IRS). Though the agency sends out letters or notices for many reasons, identity theft is one of the fastest-growing issues for the IRS.
A reverse mortgage is a feasible financial vehicle that is used by plenty of older Americans to access cash from their home's equity. We'll outline six undeniable benefits these home loans offer.
Whether data compromises give rise to breaking news stories or pounding headaches, anything less than a zero-tolerance attitude toward identity-related crimes won't get us to the place we need to be.
Over the past decade, almost one billion records with personal information have been compromised -- things like Social Security numbers, birth dates, address and even tax filing status. In many cases, those breaches were not highly sophisticated.
Groups like the Salvation Army, Make-A-Wish Foundation, and the Red Cross come to mind when most of us think about charities. ALEC is something far different, a shadowy operation that brings legislators and corporations together behind closed doors to advance private interests.
Why do the oil and gas billionaire Koch brothers get a tax break for funding climate change science denial? The IRS is finally investigating.
This week, Americans fulfilled part of our responsibility to our government by filing taxes. But the government isn't doing its part in return. First, as a new report by the National Taxpayer Advocate showed, the IRS has been crippled by years of budget cuts, resulting in a "devastating erosion of taxpayer service" and filing misery for millions. Hold times, which were under three minutes in 2004, are now over 30 minutes. This isn't smaller government; it's broken government, which, for many budget-slashing legislators, is the point. In more news from dysfunctional D.C., Attorney General-Designate Loretta Lynch remains in limbo, her nomination held hostage by Senate Republicans for over five months. On Friday, a clearly frustrated President Obama demanded, "Call Loretta Lynch for a vote...This is embarrassing." Meanwhile, the bigger "news" was the breathless scoop of Hillary Clinton eating at Chipotle. She had, we were told, a chicken burrito bowl (with guacamole). If only our political system -- and media coverage -- were as satisfying.
Wealthy fund managers employ an army of tax advisors to make sure they do not miss any opportunity to get a tax break. As Warren Buffett pointed out, the mega rich already pay a lower tax rate on their incomes than the average worker.
No longer can I look past the reality that my annual voluntary forfeiture of money to my government pays for violence around the globe, at astounding levels, and I am not able to provide any more excuses or rationalizations that paying without protest, that being complicit in funding war without resistance, is not contradictory to my faith and to my conscience.
Tax day is here, and while it's always a good idea to file as soon as possible, there could be reasons you may need some extra time. If you're left scrambling, here are five things you should consider.
Expressing shock that someone so rich could commit such a monumental error, the IRS today reported that a lone member of America's wealthiest 0.1 percent paid more taxes than he should have for the 2014 tax year.
A government agency with a salary structure that makes it nearly impossible to compete against the best legal and accounting firms in the country in the best of times is being forced to fire staff, furlough its remaining employees and subject those who remain to ever-increasing workloads while at the same time the complexity of that workload is increasing exponentially.
Last month the IRS issued a warning that received scant attention from the media but nonetheless could impact millions of taxpayers this year -- particularly low-income, elderly and Spanish-speaking taxpayers. The scam takes advantage of the Individual Shared Responsibility Provision of the Affordable Care Act.