If you live in Dallas and you owe the Internal Revenue Service $900,000 or so, don't worry about it. The IRS is so short-handed down there it doesn't bother with tax scofflaws who owe less than $1 million. It's more or less the same all over the country.
If you've used the Internet today, whether for shopping, social networking, or research, take a moment to appreciate that public investment--our tax dollars--made these activities possible.
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.
President Obama's announcement of new tax benefits for middle class and working families, highlighted in the State of the Union and detailed in his FY 2016 budget, shines a light on the tax code in a way that demands our attention and engagement.
If you're someone who enjoys the "affordable luxury" of a beer after work, or sometimes even a few, reasonably-increased taxes aren't going to kill you. What can kill you though, is excessive alcohol use.
Puerto Rico, though it is not a state, has the privilege of issuing municipal bonds. Interest on those bonds is free from U.S. taxes. Typical municipal bonds pay 3 percent returns these days. But Puerto Rico's municipal bonds pay 8 percent or more.
The reason most of us have seen little gain from economic growth over the last three decades is that the rich have rigged the rules to ensure that money flows upward. Through their control of trade policy, Federal Reserve Board policy, and other key levers of government, they have structured the market to weaken the bargaining power of ordinary workers and benefit the CEOs and Wall Street crew. As a result, the typical worker has seen almost none of the gains from economic growth over the last four decades. Most of this rigging comes in before-tax income.
If you haven't yet filed your taxes, you should really start gathering all those documents, receipts, and financial data. Many Americans will procrastinate filing their taxes, then at the last minute they will rush around to make the deadline.
In the House and Senate budget proposals for fiscal year 2016, passed with only Republican votes at the end of March, there are big winners and big losers. The big winners are defense spending and contractors and very wealthy people and powerful special interests. The big losers are children, our poorest group in America, and struggling low- and middle-income families.
Receiving your tax return on a prepaid card is a great alternative for those who don't have a traditional checking account and don't want to wait for their check via snail mail.
This year, your federal tax return is due Wednesday, April 15. The best way to get your return to the IRS by the deadline, reduce tax return errors, ensure calculations are correct, and be warned of common errors or missing information is to file your return electronically.
Everyone's situation is a little different, but unless you expect your tax bracket to drop in the future, I would say that for most people with a choice, the long-term benefits of the Roth IRA override the short-term tax deduction of the traditional IRA.
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.
One day soon, same sex couples won't have to play hopscotch with financial equality and inequality, but until then, good financial planning can help ensure you come out a winner.
Homeowners across the United States pay taxes on their property to support a variety of local public services. Although millions of Americans pay property taxes each year, many misunderstand how their bill is calculated.