Each year during tax time millions of consumers put their financial future in the hands of strangers, trusting that these tax preparers — who are largely unregulated — know the rules, will get them the best possible result (hopefully a refund), and won’t sell them on a product that costs more than it’s worth. But in the world of complicated tax codes and credits, consumers continue to face a long list of risks, including untrained preparers, undisclosed fees, and dangerous refund anticipation products. [More]
tax time
Unregulated Preparers, Lack Of Disclosures & Costly Financial Products Put Your Tax Refund At Risk
By 3.30.16
Michael Bolton Serenades The IRS: You’re The Anus Of Our Country
By 4.13.15
Since 2010, Congress has cut the budget for the IRS by around 20%, resulting in thousands of jobs being cut and millions of Americans unable to get much-needed help with their tax returns this year. This has had the effect of just making some people hate the IRS even more than they already did, but is this a case of kicking a man when he’s down? [More]
What You Need To Know About Claiming Older Dependents On Taxes
By 3.28.12
If you look out financially for an older loved one, the government gives you a reward for your kindness come tax time. Those looking to claim people who aren’t their children as dependents when they file their taxes should go over the rules to make sure they qualify. [More]
IRS Says It's Ready To Field Your E-Filings
By 1.20.12
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]
Not All Charitable Donations Become Tax Deductions
By 1.19.12
Whenever you fill your heart with joy by contributing to a worthy cause, you get the bonus assurance that you’ll see further benefits from the donation come tax time. But the belief is not always well founded, because in the eyes of the IRS, not all charitable donations are created equal. [More]
Self-Employed Taxpayers Get Bigger Deduction For Medical Expenses
By 2.23.11
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]
12 Scams To Watch Out For During Tax Time
By 4.5.10
For the last several years, the IRS has released their Dirty Dozen list of tax scams, including schemes involving return preparer fraud, hiding income offshore and phishing. They recently posted the 2010 version on their website. [More]
