Online sellers, we warned you about this in 2010. The Internal Revenue Service created the new 1099-K form as a way to keep closer tabs on those who sell items online, and the 2011 tax year is the first in which the form will apply. [More]
taxes
How To Soften The Blow Of An Awful Investment With A Tax Deduction
By 1.11.12
If you jumped on a stock tip that sounded great at the time but only led to you losing your entire investment, now is the time to stop beating yourself up over the poor decision. You may be able to deduct your financial folly, lightening your tax load. [More]
Walmart Asks You To Come For The Free Tax Prep, Stay For The People-Watching
By 1.10.12
In what seems to be an effort to lure customers, especially those in the mood to spend after procuring a sizable tax refund, Walmart is offering free tax preparation services for those whose finances aren’t complicated. [More]
Watch Yourselves, Moneybags: The IRS Says It It's Auditing More Of You Than Before
By 1.6.12
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]
3 Things You Can Do To Make Sure You Get Your Tax Refund Quickly
By 1.6.12
The news that you get two extra days to file your tax return this year means little to those who have big refunds coming and want to get their hands on their money as soon as possible. [More]
Should Smokers Have To Pay The Full Tax If They Roll Their Own Cigarettes?
By 1.3.12
Since state and local governments began slapping heavy taxes on cigarettes, a number of smokers have managed to pay less by buying loose tobacco and rolling their own. But as a growing number of stores have begun offering free-to-use roll-your-own machines that take the loose material and spit out a pile of smokes that look like they came straight out of the carton, some lawmakers are crying foul. [More]
3 Steps To A Financially Successful 2012
By 12.30.11
If you’ve decided 2012 will be the year you get your finances in order, you’ll need to take concrete steps toward making that goal a reality. It takes sound, consistent choices to chug along in the right direction. [More]
Gay Couples Lose Big On Tax Breaks Because Their Marriages Aren't Recognized
By 12.27.11
Gay couples whose marriages aren’t viewed as legitimate by the federal government have to pay heavily due to the indignity. Same-sex couples reportedly pay as much as $6,000 more a year in taxes because they aren’t allowed to file jointly. [More]
IRS Is Stuck With $153.3 Million It Wants To Give Away
By 12.12.11
The Internal Revenue Service has $153.3 million in tax refunds burning a hole in its pocket, but can’t find any takers. The agency says mailing address errors have rendered 99,123 refund checks undeliverable. [More]
These Are The Traits You'll Want In Your Tax Accountant
By 12.7.11
It’s tough to know what to look for when searching for an accountant to do your taxes. Your choice is critical to your financial well-being, so it’s important to do your homework and make an informed decision. [More]
Letting Snakes Loose In A Tax Office Is Not A Good Way To Protest Corruption
By 12.2.11
If you’re a tax official in India, you might want to think twice about upsetting farmers who just might be snake charmers. Two farmers, one of them handy with the slithery beasts, dumped around 40 snakes in a busy tax office in northern India to protest alleged bribery demands. [More]
How Cars Are Financial Anvils
By 11.21.11
Car ownership gives you the illusion of freedom and mobility while actually sticking you with expenses and stasis. The myriad expenses with which cars saddle you aren’t necessarily an argument against owning a vehicle — you need one if your job requires it or you live in a city that lacks reliable public transportation — but those looking for their next car need to know what they’re getting into. [More]
BofA Says "Sorry" For Paying Your Real Estate Taxes Late
By 11.14.11
Banks are happy to jump all over you and ratchet up the fees when you’re late. But when they’re late, not so much. [More]
You've Got A Few Weeks Left To Win The Tax Year
By 11.7.11
As the holidays usher in the end of the year, it’s easy to overlook the moves you could make to put yourself in a better position come tax time. Come April, you’ll either thank or curse your November and December 2011 self for making either savvy or stupid financial decisions. [More]
Hundreds Of People's Tax Returns Found Dumped In Front Of Jackson Hewitt Office Because They Were "So Heavy"
By 11.4.11
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]
How To Decide Whether Or Not To Pay Someone To Do Your Taxes
By 10.28.11
Tax accountants strive to prove their worth in this age of tax software by claiming that their personal touch and intimate knowledge of the tax code can get you better returns. While some people can benefit from professional help, others can easily do their taxes on their own. [More]
Your Taxes May Go Down Thanks To Prices Going Up
By 10.14.11
Don’t cry over the price of milk spilling upwards. It could actually mean that you pay lower taxes. [More]
H&R Block Goofs On My Tax Return, Won't Honor Guarantee To Reimburse Me After IRS Audit
By 9.23.11
Bambi has been getting her taxes done by H&R Block for decades with no problem. But when a recent audit turned up a small error that required Bambi pay $725 in additional taxes, folks at the tax-preparation service seemed to go out of its way, including telling her complete falsehoods about why her claim was being denied, to not make good on its guarantee to reimburse her for the $725. [More]
