Imagine this: Someone claiming he's from the IRS calls and says you owe money. He demands you to pay via a pre-loaded debit card or wire transfer. Do you send the money? If you answered yes, you walked right into a scam.
It's understandable if your eyes are glazing over with tax talk, but it's time to wake up: you could save thousands of dollars each year by filing for the right tax benefits.
And while tax preparation software makes filing faster and easier, there were several changes to popular tax prep services this year, leaving many filers confused about which product is right for them.
When you're in your 20s, your tax filing is usually pretty straightforward. Unless you buy a house or you travel a lot for your job, you're not going to be claiming a lot of deductions, aside from writing off the interest you're paying on your student loans.
We receive some of the most sensitive, potentially damaging mail deliveries of the year during these post-holiday months, and a wayward envelope during tax season can wreak immense financial havoc.
First, there is denial. Then relief, and then possibly a nice refund after it's all said and done. We're talking about tax season, and it has arrived. It's also a good time to take care of other financial business, like maxing out an IRA or rolling over an old 401(k).
Year-end planning is about finding the right year in which to earn additional income or to spend money on more tax deductions. Now is the right time to think about this year and next.
Every once in a while a mainstream outlet will talk tough on immigration, apparently to prove that they are "balanced." It happened again this week wh...
The modern conservative movement has become obsessed with eliminating all taxes all the time on anyone who isn't poor. They think people too poor to pay income taxes should pay a lot more, but apparently anyone who has been successful in any way should not be forced to pay.
Your refund will be put to good use with any of these luxe items.
There seems to be a general belief around this time of the year that if you're getting a refund, then you should spend it on something fun. All the ads urging us to go out and splurge certainly seem to think so. But is that really the case?
Nothing too surprising -- those who pay more in federal taxes think they're too high; almost nobody thinks their tax bill is too low. But departing from the data a bit, there are two factors that I suspect have an impact on our general perceptions of tax fairness.
While time is ticking for you to complete your taxes, don't get so caught up trying to file that you make a mistake!
The first income tax day in U.S. history was on March 1, 1914. Four years later, Congress passed the "Revenue Act," which moved tax day forward by two weeks to March 15, where it remained in effect until 1955. Why the change to April 15?
Tax season is an annual American ritual. For many Americans, it brings the biggest influx of money all year, giving a much-needed boost to millions of families. Yet for Americans of all backgrounds, tax filing can be a stressful and confusing experience.
More than half of state tax dollars go to fund education and health care. State tax dollars also fund other critical services such as transportation, corrections, public assistance, care for residents with disabilities, police, state parks, and general aid to local governments.