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Tax Refunds

Should You Use Savings to Pay Off Debt?

David A. Dedman | Posted 12.02.2014 | Money
David A. Dedman

It's not an either-or question. It's both. You really need to save and reduce debt. Easier said than done, right? It can be done, you just have to make some sacrifices today to get yourself in a better situation for a financially secure future.

Stop Hating, Millennials Spend Tax Refunds (and Money) Smarter Than You Think

Kara Kamenec | Posted 06.17.2014 | Money
Kara Kamenec

We are a generation of maximizers, and it's both a blessing and a curse. Sure, we can identify what we like, online, on our phones and in store, but liking a product simply isn't enough to make us buy it.

Wondering What to Do With That Tax Refund?

Ishani Banerji, Ph.D. | Posted 06.15.2014 | Money
Ishani Banerji, Ph.D.

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?

5 Smart Ways to Spend (or Save) Your Tax Refund

Lisa Greene-Lewis, CPA | Posted 06.14.2014 | Money
Lisa Greene-Lewis, CPA

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-Refund Travel Deals for 2014

Travelzoo | Posted 06.14.2014 | Travel
Travelzoo

This year's average tax refund is about $3,000 so far, according to USA Today. Lucky recipients of the coveted U.S. Treasury check will find some ...

Last-Minute Tax Strategies To Be Retirement Ready

James Nichols | Posted 06.11.2014 | Money
James Nichols

Abraham Lincoln once said, "You cannot escape the responsibility of tomorrow by evading it today." Following these tips can help you conquer the panic today of tomorrow's tax-filing responsibility while simultaneously building your nest egg and driving increased retirement readiness.

Manilla Mini: The Smartest Ways to Spend Your Tax Refund

Manilla.com | Posted 05.19.2014 | Money
Manilla.com

So, you just got your tax refund in the mail. What are you going to do with it? Chances are you'll probably end up spending it on something you don't really need. Why not make your money work harder for you?

A Common Mistake People Make On Their Taxes (VIDEO)

Posted 03.03.2014 | MarloThomas

When it comes to tax advice, personal finance expert Suze Orman had quite an interesting spin on tax refunds to share with us. “Here's the botto...

Smart Tips for Your Tax Refund

Diane Morais | Posted 04.14.2014 | Money
Diane Morais

While few people will regret saving money, another wallet-friendly option is to invest your tax refund into money-saving projects, such as energy efficient home improvements. In addition to helping reduce utility costs, you may qualify for a tax credit.

It's the Most Wonderful Time of the Year

Mark Steber | Posted 04.05.2014 | Business
Mark Steber

Every year the rules are different and other considerations related to filing your tax return and paying the least you can or getting the biggest refund you can are changing and constantly new and confusing, so like most taxpayers, you probably have a lot of questions.

Big Tax Refunds Really Are Good

Mark Steber | Posted 03.25.2014 | Business
Mark Steber

For many taxpayers, the income tax return and corresponding income tax refund is the largest single financial transaction of the year -- both in size and complexity. It deserves focus and attention, both during the tax return preparation and afterwards managing the tax refund responsibly.

Ten Tips to a Faster Refund

Mark Steber | Posted 03.23.2014 | Money
Mark Steber

With over 75 percent of all tax filers getting a tax refund and the average federal tax refund at about $3,000, what should you know to get your refund as fast and safely as possible? Here are some steps you can take.

Why You Need to Be Smart About Your Tax Refund (and 8 Ways to Handle Your Refund)

Amandah Blackwell | Posted 03.11.2014 | Money
Amandah Blackwell

Are you excited about filing your taxes? Most people wait until the last minute to file their taxes, but for those who like to get it over and don...

A Look at How Marital Status Affects Your Tax Return in Light of the Recent DOMA Decision

Mark Steber | Posted 09.01.2013 | Business
Mark Steber

Who will the IRS consider married for federal tax purposes? What about State taxes? Can taxpayers go back and amend prior tax returns or only go forward?

How Improving a Home Can Improve Your Tax Situation

Mark Steber | Posted 08.24.2013 | Business
Mark Steber

While you can't get time spent on home improvements back, you can often get some of your dollars returned either at tax time or when you sell, provided that you track of all of your costs as you own and work on your home.

Tax Tips and Considerations for Dads (and Dads-to-Be)

Mark Steber | Posted 08.13.2013 | Business
Mark Steber

Not only are there a great many tax considerations related to fatherhood, many of them are often overlooked. So to mark Father's Day, here are some tax-specific ways to take advantage of the unique benefits of being a dad.

The Latest IRS News and How It Affects Tax Returns, Audits and You

Mark Steber | Posted 08.04.2013 | Business
Mark Steber

What should you do to ensure you don't get one of those dreaded "We found an error on your tax return" IRS letters, or even worse a more detailed in-person audit of your tax return?

Is Your Tax Refund Less Than Expected?

Mark Steber | Posted 07.17.2013 | Business
Mark Steber

Unfortunately, there are many reasons this could happen, and even worse, it happens to many taxpayers each year, causing surprise, confusion and frustration.

GAO Report Confirms IRS Weakness Amid Controversy

Reuters | Posted 02.13.2014 | Business

May 13 (Reuters) - The U.S. Internal Revenue Service suffers from weaknesses in a number of its internal financial controls, said a report released ...

IRS Refunds, Easy Spending Money for Most Americans

VisualNews.com | Posted 07.10.2013 | Technology
VisualNews.com

The end of tax season is the biggest financial event of the year, claim 75% of Americans, as they anticipate a refund of their hard-earned money after filing their taxes. However, only 37% of tax payers choose to invest their savings or use it to repair their finances.

What to Do If You Made a Mistake or Forgot a Deduction On Your Tax Return

Mark Steber | Posted 06.26.2013 | Business
Mark Steber

Amending a tax return can be very complex. There are many considerations, from determining what is incorrect and what the correct information should be, to knowing what forms to attach, to making sure the state return is amended correctly and timely.

Tax Tips for Self-Employed Professionals, Freelancers and Contractors

Mark Steber | Posted 06.22.2013 | Small Business
Mark Steber

While April 15 is commonly accepted at "tax day," for many taxpayers and especially small business owners, freelancers and self-employed professionals, there are other important "tax days" to keep in mind.

Stretching Your Tax Refund

Dedrick Muhammad | Posted 06.17.2013 | Black Voices
Dedrick Muhammad

While it is tempting to splurge on your tax refund, dedicating a significant portion of your refund to savings is a great way to establish and/or strengthen your personal economy to weather financial emergencies. Start stretching your tax refund by doing the following.

What You Need to Know About Filing a Tax Return Extension

Mark Steber | Posted 06.12.2013 | Business
Mark Steber

Filing a tax return extension can remove the failure-to-file penalty, which is the larger penalty on a monthly basis, but it will not remove the failure-to-pay penalty.

The Tax Form That Could Save Your Refund From Thieves

Adam Levin | Posted 06.09.2013 | Business
Adam Levin

Stealing a tax refund is one of the most direct ways for an identity thief to monetize the information they steal. And it's way too easy.