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Tech 2020-11-13T16:35:35Z

A former Microsoft employee is going to prison after stealing $10 million in store credit and buying a Tesla and a lakefront 真人百家家乐网站home

The case is a landmark for the IRS as "the nation's first bitcoin case that has a tax component," an agency official said.
Personal Finance 2020-11-09T16:16:00Z
FILE - This April 13, 2014, file photo shows the Internal Revenue Service (IRS) headquarters building in Washington. 2019 was another tough year for the IRS, according to a new federal report. Burdened with years of budget cuts and a recent increase in workload to implement a new tax law, the IRS struggled to deliver on its mission in the past fiscal year. The annual report from the Office of Taxpayer Advocate found that in the 2019 fiscal year, among other problems, the agency failed to collect billions in unpaid taxes.   (AP Photo/J. David Ake, File)

Millions of Americans are still eligible for stimulus checks, and you have until November 21 to claim yours

Americans who didn't have a tax liability in 2018 or 2019 and qualify for a stimulus check can use an IRS tool to see if they're eligible.
Markets 2020-10-17T12:23:00Z
Robert Smith

A billionaire who vowed to pay off the debt of an entire college class will pay $140 million to settle a 4-year tax probe, a report says

The billionaire Robert Smith will admit misconduct but will not be prosecuted, Bloomberg reported, citing confidential sources.
Personal Finance 2020-10-13T21:26:31Z

Thursday is the federal tax deadline for most Americans who filed for an extension

Payments are usually due by the original deadline, not the extension deadline, unless you've worked out a payment plan with the IRS.
Personal Finance 2020-10-02T19:54:51Z

If you left your 真人百家家乐网站home state to work remotely in 2020, there are tax implications to consider

Working remotely can get complicated when every state manages their own tax rules. But there is pandemic-related relief available in some states.
Personal Finance 2020-10-02T14:52:30Z

Considering buying a second 真人百家家乐网站home? Here's what it could mean for your taxes

A second 真人百家家乐网站home is largely taxed like a first 真人百家家乐网站home. But there are differences for anyone renting out their 真人百家家乐网站home, and when it comes time to sell.
Personal Finance 2020-10-01T16:49:00Z

There are 9 US states with no income tax, but 2 of them still tax investment earnings

The states with no income tax are Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
Personal Finance 2020-09-30T18:16:01Z

How America's progressive tax system works

Progressive taxes work like a set of stairs. A portion of your income is left at each step and taxed at the flat rate tied to that tax bracket.
Personal Finance 2020-09-29T18:11:41Z

Here's what the IRS considers an 'ordinary and necessary' business expense on your taxes

The IRS considers 'ordinary and necessary' business expenses to be anything you need to run your business, such as equipment and bookkeeping services.
Personal Finance 2020-09-29T16:19:00Z

Here's why your bonus is taxed so high

Your bonus is taxed differently from your salary because the IRS considers it "supplemental income" and treats it differently than a paycheck.
Personal Finance 2020-09-29T15:26:40Z

A tax audit is an IRS investigation into whether you paid the right taxes, and it's not just for the super-rich

Tax auditing allows the IRS to double-check tax returns to make sure the right amount of tax was paid, and it could result in paying more taxes.
Personal Finance 2020-09-28T21:45:15Z

The president paid $750 in federal income taxes thanks to an element of the tax code that's working as intended

How could a man worth more than $2 billion (according to some sources) pay so little in taxes for so many years? It's right there in the tax code.
Personal Finance 2020-09-28T20:20:12Z

The average amount Americans pay in federal income taxes, by income level

The average federal income tax payment in 2018 was $15,322, according to IRS data. But most Americans paid less since taxes are based on income.
Personal Finance 2020-09-28T17:57:59Z

Here's exactly where to look on your 1040 tax return to see how much more you paid in taxes than Trump did

Trump only paid $750 in federal income taxes in 2016 and 2017. You probably paid more than he did, and you can look at your 1040 to find out.
Personal Finance 2020-09-28T16:03:00Z

Here's how to find out what tax bracket you're in for 2020 and 2021

New federal tax brackets for 2021 have been released. The income thresholds are indexed for inflation every year.
Personal Finance 2020-09-23T15:38:00Z

With less than a month left to claim stimulus payments, the IRS will start sending letters this week

Notices for unclaimed stimulus checks are going to Americans who haven't filed a tax return for 2018 or 2019, likely because they didn't earn enough.
Personal Finance 2020-09-11T20:20:35Z

On my first day at a restaurant job 10 years ago, a coworker gave me some savings advice that's helped me pay taxes, save for retirement, and make major purchases

On her first day, Todd gave her the rundown on her job — and some financial advice: Save 20% of your tips to pay your taxes.
Finance 2020-08-25T16:20:58Z

Bernie Sanders says 'Warren Buffett was right' about the wealthy winning the class war, and calls for higher taxes on the rich

"We need to tax the rich and create an economy that works for all of us, not the 1%," the senator tweeted.
Finance 2020-08-22T10:34:51Z
Personal Finance 2020-08-18T16:41:51Z

Nearly 14 million Americans will get interest payments for their delayed tax refunds this week

The interest payment must reported on next year's tax return if it's over $10. Most will be delivered by direct deposit.
Personal Finance 2020-07-24T18:08:25Z

How much the average person gets for their federal tax refund in every state

The average federal tax refund varies by state. The latest IRS data shows residents in Texas receiving the largest refunds.
Personal Finance 2020-07-16T14:30:00Z

Here's when you can expect your federal tax refund to hit your bank account

Where's my tax refund? It should arrive within 21 days of e-filing if you request direct deposit, but there may be some delays due to the pandemic.
Personal Finance 2020-07-15T18:33:00Z

There's a tax deduction for people working from 真人百家家乐网站home, but it won't apply to most remote workers during the pandemic

If you started working from 真人百家家乐网站home this year, and you're self-employed, you may be able to claim a tax deduction on your return in 2021.
Personal Finance 2020-07-15T15:45:00Z

Today is Tax Day. Here's what to know about filing your return, getting your refund, and paying your bill.

Here's everything to know about how to file your tax return for 2019, including what forms you need and how you can prepare it for free.
Personal Finance 2020-07-14T16:55:01Z

Taxes are due Wednesday. Here are 4 sites offering discounts on federal returns.

Multiple online tax preparers are currently offering discounts on their tax-filing products, including H&R Block, TaxAct, TaxSlayer, and
Personal Finance 2020-07-14T16:36:00Z

Self-employed workers could have up to 6 tax bills due on Wednesday. Here's a CPA's advice if you can't afford to pay them all.

A CPA recommends prioritizing state taxes over federal taxes and paying your 2019 balance before making estimated tax payments.
Personal Finance 2020-07-10T15:49:00Z

There's only 1 weekend left to file your taxes before they're due July 15

Filing taxes can be time consuming. If you prefer to set aside time on a weekend, you only have one chance left before the July 15 deadline.
Personal Finance 2020-07-09T21:30:00Z

Think twice before paying an online tax preparer from your refund

The cost of tax filing fees with H&R Block, TurboTax, or one of the other online tax preparers can be deducted from your refund — for a price.
Personal Finance 2020-07-09T19:43:36Z

A tax-filing issue that could have cost me $4,000 made me think twice about the advice I've been giving to other small business owners

After encountering a problem with TurboTax that wasn't easily resolved, he did his taxes again with H&R Block and got a completely different result.
Personal Finance 2020-07-09T19:11:45Z

TaxAct is a good option for experienced filers, and its tax-filing plans are currently 35% off

If you value affordability and have a decent understanding of your tax situation, TaxAct is a good choice for filing your taxes by July 15.
Personal Finance 2020-07-08T21:48:00Z

I ran my taxes through Credit Karma Tax and H&R Block. Here's how they compare on price, ease of use, and refunds.

I ran my personal taxes through both Credit Karma Tax, which is totally free, and H&R Block, which has both free and paid product options.
Personal Finance 2020-07-08T21:16:00Z

TurboTax vs. H&R Block: Here's how the 2 popular tax-filing services compare on price, experience, and expert help

TurboTax offers a slightly better online experience, while H&R Block is best for people who may want to upgrade for in-person support.
Personal Finance 2020-07-07T21:15:32Z

4 tax-prep hacks I follow all year to make filing easy

Stashing tax documents (paper or digital) in a designated folder and keeping up with your investments throughout the year can help you file smoothly.
Personal Finance 2020-07-07T17:17:53Z

I thought it made sense to file my taxes in July instead of April, but now I really regret waiting

When the pandemic first swelled and everything felt overwhelming, she thought three extra months might help her get centered. But that didn't happen.
Personal Finance 2020-07-06T22:12:00Z

How to get a tax ID number if you're self-employed or have a small business

To get a Tax ID number, you can speak with your accountant or bank, call the IRS directly, fill out a form and mail it to the IRS, or apply online.
Personal Finance 2020-07-06T18:01:56Z

The coronavirus took an axe to my income, so I'm using a federal disaster-relief loan to pay my taxes this year

As a small-business owner, an Economic Injury Disaster Loan provides peace of mind during uncertain times, but it comes with specific rules.
Personal Finance 2020-07-06T17:29:15Z

I had the money to pay my tax bill in April, but I'm waiting until the July 15 deadline for 2 main reasons

By waiting to pay her tax bill in July, the money she puts aside for taxes was able to earn more interest in a high-yield savings account.
Personal Finance 2020-07-06T15:52:00Z

The vast majority of Americans actually qualify for free tax filing. Here's how to find out if you're one of them.

Some tax preparers don't list free tax filing clearly on their websites, so it's best to go through the IRS portal if your AGI is below $69,000.
Personal Finance 2020-07-06T15:52:00Z

How to estimate the size of your refund before you even file your taxes

Using your W-2 or 1099 income forms, it takes less than five minutes to see how much you'll be getting with H&R Block's free tax refund estimator.
Personal Finance 2020-07-03T12:31:00Z

If I'd known the term 'effective tax rate' in 2019, I wouldn't owe $8,000 in taxes this year

When she learned the term "effective tax rate" and what it meant for her taxes, she was better able to predict how much tax she would owe.
Personal Finance 2020-07-02T20:02:00Z

Best tax software 2020: TurboTax, H&R Block, and more

In order to determine the best tax software, we reviewed offerings from about a dozen online tax preparers like TurboTax, H&R Block, and TaxAct.
Personal Finance 2020-07-01T22:27:00Z

All your questions answered about filing and paying taxes

When are taxes due in 2020? How do I file taxes? How much does it cost? What if I'm getting a refund? We have those answers and more.
Personal Finance 2020-07-01T19:18:00Z

4 tax breaks every US college student should know about

Tax deductions and tax credits for college students can help offset the cost of school or repaying a student loan. Here's what's available.
Personal Finance 2020-07-01T17:45:00Z

If your tax situation is complicated, FreeTaxUSA is one of the cheapest ways to file online

Are you a 真人百家家乐网站homeowner? Federal returns from FreeTaxUSA are free. Are you self-employed? It's free. Do you have rental income? Still free.
Personal Finance 2020-06-30T18:44:00Z

TaxAct is totally free for active service members, and there's a $0 option for everyone else

TaxAct offers four e-filing plans — Free, Deluxe+, Premier+, and Self-Employed — ranging from $0 to $165 for federal and state returns.
Personal Finance 2020-06-30T18:10:00Z

I've tried 3 different tax programs as a self-employed freelancer, and TurboTax is easily the best of the bunch

I've played around with TurboTax, H&R Block, and TaxAct, and I find TurboTax's interface to be the most user-friendly for self-employed taxpayers.
Personal Finance 2020-06-30T15:22:00Z

I've filed my taxes with H&R Block for 3 years in a row, and I'm still impressed by how simple and quick it is

H&R Block is generally cheaper than TurboTax for filing taxes online, and more helpful and comprehensive than free options like Credit Karma Tax.
Personal Finance 2020-06-30T14:31:00Z

TurboTax is the most popular tax software because it's easy to use and can handle the vast majority of tax situations

If you are comfortable using a computer, TurboTax makes it easy to enter your tax forms and can handle even complex tax situations.
Personal Finance 2020-06-29T21:31:00Z

TaxSlayer's $0 plan is for anyone with simple taxes and includes free federal and state returns

TaxSlayer is a tax preparation company that offers four plans: Simply Free, Classic, Premium, and Self-Employed. Here's our review.
Executive Lifestyle 2020-06-26T12:47:00Z

Fewer Americans are giving to charity than ever before, and Trump's tax cuts may be to blame

Trump's 2017 tax reforms ended the requirement for many Americans to itemize their charitable donations, and that may be why fewer are giving.
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