Tax refunds are expected by fewer Americans this year, according to an AP poll. A slight majority say their taxes are fair.
The Internal Revenue Service has taken on a gentler demeanor in recent years, but let's face it: The IRS still wants you to pay what you owe, and to pay it on time. This year, on time means April 18, due to a calendar quirk involving the District of Columbia's celebration of Emancipation Day. State deadlines may vary. Here are nine tips that tax experts (and the friendly Internal Revenue Service itself) offer to help keep you from getting audited, owing a penalty, paying more than you really owe, or having to file an amended return because of a mistake:
Internal Revenue Service should make it easier for people who have children to figure out which tax breaks they qualify for. The internal revenue service should create a uniform definition for children under 19 and eliminate the 'student exception.'
David Foster Wallace’s posthumous novel, focused on the IRS, offers us the chance “to look once more inside that beautiful mind.”
Tax-related identity theft is the fastest growing kind of identity theft. Between 2005 and 2009 complaints to the Federal Trade Commission tripled from 11,000 to nearly 34,000, according to a Scripps Howard News Service investigation. Thieves steal personal information to use for themselves or sell, or they take it to divert a tax refund into their own pockets. Identity theft, as a whole, is on the decline, but the abundance of personal information in circulation during tax season makes it a prime time for thieves to strike. Here are four tips for keeping your information safe:
Tax evasion, nonpayment, and underpayment are important factors in the $300 billion the IRS doesn't collect each year. Why the tax evasion? Lack of enforcement is one reason.
Many people would answer a resounding 'yes.' But some experts caution that tax rates, when looked at historically and in comparison with those of other countries, aren't that bad. Here are some statistics – and how the debate might go between those who think taxes are too onerous and those who don't.
On Tax Day 2011, the 'Making Work Pay' tax break, which can be worth up to $800 per household, is one of several tax credits for which filers may be eligible.
To finance the Civil War, the Union government levied taxes on products, companies, and incomes. How income taxes have – and haven't – changed in the 150 years since.