Consumerist
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tax tips
How To Deduct Ponzi Scheme Losses On Your Taxes
Did you know that IRS revenue ruling 2009-20 can help you claim losses from Ponzi schemes? Here's what to do: -
how to
Tax-Saving Moves For 14 Big Life Events
Life is full of surprises and challenges. Luckily, there's a tax form for just about all of them. Via Kiplinger's, here's 14 major life events that allow for smart tax-saving moves, and how to make those moves. More » -
whoops
The IRS Isn't Sure Who They Hired Or Why Your Sensitive Tax Documents Are Filed In Dumpsters
Here are three things you didn't want to know: 1) The IRS doesn't always conduct background checks on the employees contracted to handle your sensitive tax documents; 2) Those contracted employees regularly toss your sensitive tax documents into dumpsters without first shedding them; 3) The IRS doesn't really know who's in charge of conducting background checks on contracted employees, or who's responsible for keeping your sensitive tax documents shredded and out of dumpsters. At least that's what the Treasury Inspector General's office uncovered when it audited everyone's favorite auditors. More » -
reminders
New Withholding Rules Mean You Might Owe The IRS Next Year
New tax laws designed to boost the economy by giving you a bit more cash in your pocket might lead to problems for you next year if you're in a dual-income household. The new payroll tax tables mean you could end up withholding too little without even knowing it and, though you're welcome to take that long-awaited trip up the Zambezi, you probably won't enjoy writing a check to the IRS come April 2010. More » -
taxes
What If I Can't Pay My Taxes?
What if you don't have enough money to pay your taxes right away? There are several options. For starters, you can request a payment extension of up to 120 days after filing to pay in full without penalty. By June, if you haven't paid yet, the IRS will send you a bill and assess a small penalty and start charging interest. For $105. you can also set up an installment plan and pay a little bit each month with each paycheck. Set that up online here. Just don't blow it off entirely, the IRS are a lot more tenacious than BMG.
(Photo: stuartpilbrow)
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scams
Beware The "Dirty Dozen" Tax Scams
They say the only two certainties in life are death and taxes. Only one of these can be cheated, and that's the one they'll dress you up in horizontal stripes for. Some scammers promote schemes that they say you can use to get out of that one, but they're just as legit as the Floridian Fountain of Youth. So, don't be a Ponce (de Lion), and watch out for what the IRS calls the "Dirty Dozen" tax scams: More » -
irs
16 Ways To Get The IRS To Audit You
Bwahhhh! The Tax Man cometh! Here are 16 red flags to watch out for. If you wave them, it will be like if you called up the IRS and said, "Hello? IRS? I'd like you to come audit my sorry ass six ways from Sunday. Here's my address." More »
5:06 PM on Tue Apr 14 2009
By Ben Popken
0 views, 104 commentsMost discussed Frank Murphy: How much money would be saved if the IRS and all of its nonessential government employees (with generous benefits and more »
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how to
Get An Extension On Your Taxes
If you're not done with your taxes, don't worry, just get an extension. Just send in IRS Form 4868 and you'll get 6-months to send in your paperwork. However, you still need to send in 90% of your total tax due otherwise you'll get fines. If you're getting a refund, then no sweat, just send in your extension. Don't feel too bad about not having it together in time, either; according to the IRS website, form 4868 is their most requested document.
Form 4868 [IRS] (Photo: Alberto Cueto)
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taxes
3 Last-Minute Tax Tips
We're less than two weeks away from April 15, and while many are basking in the glow of a nice tax refund (though we shouldn't be letting the government use our money for free, but that's a different post), others are just starting their tax return preparation for this year. As such, it seemed appropriate to give them some last-minute advice courtesy of three pieces from Yahoo: More » -
tax cat
Good News! You Got A Tax Cut! Bad News! You Might Want To Adjust Your Withholding!
CNN points out that while it's wonderful to be getting the "Making Work Pay" tax credit right away through your employer adjusting your withholding — some people might end up getting more credit than they really are entitled to — meaning they may end up owing money at the end of the year. More » -
tax cat
Tax Break: IRS Announces New Car Buyers Can Deduct Sales Tax
The IRS just announced that new car buyers can deduct the state and local sales and excise taxes on their 2009 tax returns next year, according to our furry little tax adviser. More » -
aig bailout
Congress Considering Sending The IRS After AIG
The Washington Post says that the House will vote this afternoon on a bill that would seek to impose a 90% tax on the AIG bonuses. The Senate Finance Committee is also working on similar legislation, but have not yet scheduled a vote. More » -
taxes
Next Saturday, Let IRS Agents Fill Out Your Taxes
Next Saturday, 250 IRS Taxpayer Assistance Centers staffed with IRS agents will open their doors to anyone making $42,000 or less. With money tight for everyone this year, if you qualify, take the government up on its generous offer and let the IRS agents fill out your tax forms. More » -
First-Time Homebuyer Credit
Scrizzle: New Homeowners Can Get Up To $8000
First-time home buyers can get a tax credit of up to $8,000 thanks to the stimulus bill Obama signed back in February. You qualify if you bought between April 9, 2008, and November 30, 2009. To get the credit, use IRS Form 5405, "First-Time Homebuyer Credit." Since house prices are going down, the credit isn't anything to go and sign for a new crib this afternoon. But if you already got a home or were planning to, it's extra jingle in your coin-purse.
Expanded Tax Break Available for 2009 First-Time Homebuyers [IRS]
(Photo: sssteve.o) -
irs
IRS Fires Private Debt Collectors, Plans To Pursue Deadbeats On Its Own
The IRS has ended a controversial program that allowed private debt collectors to pursue individual debts owed to the government. The private debt collectors, described as "bounty hunters who collect taxes from vulnerable people for profit," were allowed to keep 25% of any collected debts for themselves. Before we celebrate, let's all take a moment to join Senator Charles Grassley of Iowa in thinking about those poor private debt collectors who no longer have jobs harassing and abusing people... More » -
tax audit
Beat An IRS Audit
Like a worst-case-scenario guide for taxes, tax attorney Fred Daly's Stand Up To The IRS helps you prepare for an IRS audit. Best of all, he's released all the chapters online for free.
Stand Up to the IRS [The Tax Law Offices of Fred Daily via Lifehacker]
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scams
Illinois Couple Swindles Best Buy Out Of $31 Million
The Chicago Tribune says that Russell Cole calls his $2.75 million Deerfield, IL home "the house that Best Buy built," but now investigators are claiming that the Best Buy money was obtained through fraud. More » -
taxes
UBS Will Release Names Of Americans Hiding Money From IRS
Swiss bank UBS, which has "admitted conspiring to defraud the Internal Revenue Service and agreed to pay $780 million to settle a sweeping federal investigation into its activities," has agreed to release the names of Americans who have been secreting away cash in UBS' fabled Swiss bank accounts. The U.S. Justice Department has been investigating about 19,000 accounts, but the New York Times says the bank may only release a couple hundred names. Update: Now the IRS has asked a judge to demand that UBS turn over the names of around 52,000 clients. UBS says it will "vigorously challenge" the new request. More »
irs
New York, 3:26 PM
Sun Jul 5
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