It's six weeks until T-Day. That's Tax Day for those of you who haven't given much thought to the yearly deadline. While we're not quite there yet, crunch time is just around the corner -- unless you start gathering your materials and making some serious strides today.
Their new tax plan builds on Senator Lee's 2014 plan and creates something that's even more tilted in favor of the country's highest-income people, and likely much more fiscally irresponsible. And, like last year's plan, it not only excludes most working-poor families from its new child tax credit but allows much of their existing child credit to disappear after 2017.
To get back to that level and maybe even surpass it, we need someone in charge at the Federal Reserve who understands that creating conditions that increase the purchasing power of American workers' paychecks is a part of her mandate. From what she's said and done so far, it appears Janet Yellen is exactly that kind of Fed chair.
We all know the importance of saving, and while it's ideal to save six months of income for a rainy day, I know first-hand how intimidating that can be for most of us. So, instead of looking at lofty savings or financial goals, I challenge you to take micro steps to reach your personal finance and debt reduction goals.
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.
In any case, if you do not have paperwork you expected, and you are still patiently waiting -- diligently waiting, checking the mailbox each day -- KNOW THIS, it probably isn't in the mail, so you should get the information from other methods.
The power of the multinational corporations operating below the notice of the mainstream media has been clarified by two recent proposals.
I don't think you need a crystal ball to predict that whoever runs for president in 2016 will have some sort of tax cut at the heart of their platform, probably targeted at the middle class, and I'm talking both Democrats and Republicans.
The U.S. can seem fairly normal when compared to other countries. Take taxes -- even when it comes to the most mundane of topics, our neighbors overseas can devise some truly bizarre charges and fines (take Sweden's Stripper Tax). But what about here at home?
Tax myths are a lot like a bad date. They are annoying and seem to last forever. Yet people have beliefs about income taxes that have no basis in reality. Were it not for the potential financial costs, some of these might be amusing. But if you believe them and act upon them, they can cost you serious money.
Though falling gas prices are affording Americans some financial breathing room, the dramatic drop is in no way an indication that we are approaching utopia.
As an organization with a 50-year history of ensuring that the gender and economic security lenses are included in policy and budget discussions, Wider Opportunities for Women, had one question in reviewing the President's proposed budget, "Are there opportunities for women?"
The deadline to file your taxes is quickly approaching, and for those who owe the IRS money, this can be a very stressful time. To make matters worse, anxiety levels might rise if you don't think you have the money to pay your tax bill on time.
Republicans feared that trying to pay for their tax cuts by shifting to the highly uncertain dynamic scoring may not be enough. So they are further trying to rig the system with baseline games and make permanent tax provisions outside tax reform.
When Illinois Governor Bruce Rauner was elected in 2014, he ran on an anti-tax platform. But is he trying to sneak a tax increase past voters that he never called for in last year's campaign?
Whether or not you are required to file a federal income tax return this year will depend on how much you earned (gross income) -- and the source of that income -- as well as your filing status and your age. Your gross income includes all the income you receive that is not exempt from tax, not counting your Social Security benefits, unless you are married and filing separately.