Beware Of Identity Thieves Filing Fraudulent Tax Returns To Steal Your Refund

So you finally drag yourself to your desk/computer/accountant and get your taxes done. Good job. Now wouldn’t it just totally stink if you found out someone had already filed a tax return using your information, and that they’d snagged whatever refund you had coming to you? Yes, it would, which is why the Internal Revenue Service is warning people of just such a scam. [More]

IRS Says It's Ready To Field Your E-Filings

IRS Says It's Ready To Field Your E-Filings

If you’re organized enough to have all your tax documents in order, you can go ahead and get a jump on the tax season by e-filing. The Internal Revenue Service says it’s ready to process tax returns filed online. [More]

Watch Yourselves, Moneybags: The IRS Says It It's Auditing More Of You Than Before

Watch Yourselves, Moneybags: The IRS Says It It's Auditing More Of You Than Before

The Internal Revenue Sercice is onto you, millionaires, so you best be careful as to how you spend all that money and file your taxes right. The IRS revealed in an enforcement report this week that they’re auditing more wealthy taxpayers for 2011 than 2010. [More]

You Get Two Extra Days To File Your Taxes This Year

You Get Two Extra Days To File Your Taxes This Year

When April 15 falls on a weekend or holiday, as it does this year and did last year, the IRS cuts you a break and gives you until the next business day to file your taxes. That means tax procrastinators won’t have to file until April 17, giving them two extra, frantic days to delay the inevitable. [More]

Hundreds Of People's Tax Returns Found Dumped In Front Of Jackson Hewitt Office Because They Were "So Heavy"

Hundreds Of People's Tax Returns Found Dumped In Front Of Jackson Hewitt Office Because They Were "So Heavy"

A soggy pile of hundreds of old tax returns was found in front of an abandoned Jackson Hewitt tax prep office in San Francisco in late October. The papers had social security numbers, names, addresses, and phone numbers, a potential goldmine for any identity thief who got their hands on them. [More]

Your Taxes May Go Down Thanks To Prices Going Up

Your Taxes May Go Down Thanks To Prices Going Up

Don’t cry over the price of milk spilling upwards. It could actually mean that you pay lower taxes. [More]

Should We Be Concerned That Federal Agents Are Raiding IHOP Restaurants?

Should We Be Concerned That Federal Agents Are Raiding IHOP Restaurants?

Of all the places one would expect to see IRS, FBI and U.S. Immigration and Customs Enforcement agents storming through the doors, an IHOP in Ohio. That’s why it’s even more bizarre to hear that very thing went down today inside at least seven IHOPs. [More]

How To Rat Your Friends And Neighbors Out To The IRS

How To Rat Your Friends And Neighbors Out To The IRS

Although it seems as though the Internal Revenue Service is an all-seeing entity that never lets a tax dollar it’s got coming slip away, the organization sometimes relies on the public to be its eyes and ears. Those who see tax cheating going on can report the issue to the IRS, which can investigate the cases and even hand out rewards of up to 15 percent of its take to the whistleblowers. [More]

Buffett Begs Congress To Raise His Taxes

Buffett Begs Congress To Raise His Taxes

Famous uberrich guy Warren Buffett has penned a NYT editorial begging Congress to please, please, raise his taxes. Last year, he writes, they were only 17.4 of his taxable income. He says folks like him, who make over $10 million a year, are treated by Washington “as if we were spotted owls or some other endangered species.” It’s time to stop the “coddling,” he says and make the super-rich pay their fair share. [More]

"Secret" Way To Keep Buying Paper Savings Bonds After 2012 Deadline

"Secret" Way To Keep Buying Paper Savings Bonds After 2012 Deadline

The Treasury announced last week that, in order to save money, they’re going to stop selling paper saving bonds after Jan 2012. Gone will be the days when a grandparent could walk down to the bank and sock away $50 every year to make an ironclad investment for their grandchildren. But there is a bit of a “backdoor” way you can still buy them without having to go through their weird online “gift box.” It will also let you buy more bonds than the $5,000 limit. What you do is use your tax refund to buy them through the IRS using form 8888. [More]

IRS Gives $110,000 To Wrong Guy, Now He's In Jail

IRS Gives $110,000 To Wrong Guy, Now He's In Jail

A California father is in jail and faces charges after the IRS deposited $110,000 in his account that should have gone to another taxpayer, reports KCAL. [More]

11 Legal Ways To Pay No Taxes. No Bunker Required.

11 Legal Ways To Pay No Taxes. No Bunker Required.

It’s tax time, so you’re probably wondering, man, do I really have to give the government so much of my money? If you’re rich, the answer is no! Step 1: Be a millionaire. Step 2: Hire a flashy accountant. Step 3: Have them use one of these 11 completely legal ways the wealthy use to avoid paying taxes. One of them, which Bloomberg Businessweek calls “The Friendly Partner,” allows for a property to be sold without any capital-gains tax at all. [More]

Forgiven Credit Card Debt Over $600 Is Taxable Income

Forgiven Credit Card Debt Over $600 Is Taxable Income

Did you negotiate a debt settlement in 2010 on your credit card? If the amount you knocked off is more than $600, LowCards notes, the IRS considers it income and you’ll have to pay tax on it. Sorry Charlie, you’re not out of the woods yet. [More]

Four Bankers Charged With Helping U.S. Taxpayers Hide $3 Billion

Four Bankers Charged With Helping U.S. Taxpayers Hide $3 Billion

The latest news in the federal government’s crackdown on taxpayers (or rather, people who are supposed to be paying taxes) with offshore bank accounts: Four bankers from Credit Suisse Group have been indicted on charges of aiding tax evaders in hiding around $3 billion in assets. [More]

Self-Employed Taxpayers Get Bigger Deduction For Medical Expenses

Self-Employed Taxpayers Get Bigger Deduction For Medical Expenses

As a self-employed certified tax cat, I make sure to take advantage of every opportunity possible to reduce my taxable income. The health insurance premiums I pay for me and my litter have always worked to bring that number down, but they never did anything to reduce the amount I had to pay in Medicare and Social Security taxes. Until now. [More]

IRS Offers Amnesty To Tax-Evaders With Offshore Accounts

IRS Offers Amnesty To Tax-Evaders With Offshore Accounts

If you are, or if you know, a person who is avoiding paying their taxes by stashing their cash in an offshore account, the IRS has announced a new amnesty program for just that sort of rich d-bag. [More]

Deduct The Costs Of Your Job Search

Deduct The Costs Of Your Job Search

It’s hard to get a break when you’re out of work, but there are a few tax breaks you do qualify for. Did you know that you can deduct travel expenses for job interviews? The fees you pay to an outplacement firm? And the cost of printing your resume on ostrich ebony paper? A survey of 1,000 adults found that only 1% of them did. While you’re trying to snag a job, might as well catch a few tax breaks along the way. [More]

Track Your Tax Return Status With IRS2Go App

Track Your Tax Return Status With IRS2Go App

The IRS has an official app called “IRS2Go” for iOS and Android that lets you keep track of your tax return’s status after you’ve filed it. [More]