I Owe How Much? Americans Shocked By Impact Of New Tax LawThe nonpartisan Tax Policy Center projected the tax law would reduce individual income taxes by about $1,260 on average, although it benefits higher earners more.
9 Tax Deductions Individuals Can No Longer Claim In 2018To pay for the tax breaks, the tax law erased many deductions that millions of taxpayers claim every year.
Why You Got An Extra Day To File Your Taxes"It's kind of a windfall to the procrastinators," said Mark Steber, chief tax officer at Jackson Hewitt.
The IRS' Online Filing System Is Having Problems ... On Tax DayThe service that taxpayers use to file online is partly down, according to Acting IRS Commissioner David Kautter.
Roskam: Tax-Exempt Groups Still At Risk Of Unfair IRS AuditsChairing a hearing of the House Ways and Means oversight subcommittee, U.S. Rep. Peter Roskam (R-Wheaton) said a General Accounting Office report has shown the same kind of risks now exist as when Congress found conservative groups and others were unjustly singled out for tax audits.
What Is Earned Income Tax Credit (EITC)?Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
Small Business Tax Tips: Are You Filing The Correct Forms?It’s easy to make a mistake on your taxes, especially if you are a new business owner or running a small business. Before you file, dot your i’s and cross your t’s by making sure to use the correct tax forms.
Last-Minute Tips To Lighten Your Tax Bill For 2014With less than two days until 2015, there are still a couple ways you could maximize your deductions, and ease your income tax bill for 2014.
Rep. Ford Spared Jail, Gets Probation And Fine For Tax ChargeA federal judge has sentenced Illinois state Rep. LaShawn Ford to probation and a fine for shortchanging the Internal Revenue Service of $3,782.
BBB Issues Warning Over IRS Phone Scam It's one of the largest scams of its kind and victims are on the hook for more than a million dollars as con-artists pose as Internal Revenue Service agents.
Feds Raid Politically-Connected Bridgeport Scrap Metal FirmNo arrests were made at the site of the raid, and no charges have been filed in the case.
Plenty Of Changes For Tax Filers This YearExperts recommend using some type of guidance to navigate forms and maximize your returns.
As The Tax Man Cometh, Tips For Getting ReadyThe IRS expects 75 percent of all 2012 returns will get a refund, so if you haven't started preparing your taxes yet, do it.
Officials Warn Of Tax Return Theft ScamThe Internal Revenue service has launched a nationwide attack on the problem of identity theft and false filing of tax returns.
Where's My IRS Refund?Taxpayers can go online to check to see if the IRS owes them cash.