It’s tax season, which means it’s the prime time for scammers to crawl out from underneath their scammy rocks and try to nab taxpayers’ personal info. So far, this year’s electronic tax scams are even more prevalent than before, the Internal Revenue Service says, surging 400%. [More]
Nearly two decades ago, Congress passed the first Internet Tax Freedom Act, establishing that — with a handful of grandfathered exceptions — local, state, and federal governments couldn’t impose taxes on Internet access. Problem is, that law has had to be renewed over and over, each time with an expiration date. But today, the U.S. Senate finally passed a piece of legislation that would make the tax ban permanent. [More]
Sometimes it’s just easier to have a piping hot pie delivered to your door, even if it means you have to pay a small fee for the convenience. But an Illinois man claims in a recently filed class-action seeking lawsuit that Papa John’s added a little extra to his bill in the form of an illegal delivery tax. [More]
Already stressing over doing your income taxes? You’ll have a few more days of breathing room before they’re due this year: the Internal Revenue Service has set a filing deadline of April 18. [More]
It was just last week that we wrote about how this year will probably be better than last year for U.S. taxpayers with questions or problems. Yet looking forward to the next decade or so, changes in how the IRS provides support will mean leaving some Americans behind. [More]
There never has been a tax on email or bandwidth use, for most of us, because Congress made it illegal to charge one more than 15 years ago. That law, though, was temporary and for the better part of two decades, has constantly needed to be extended or renewed. This year, Congress appears finally to be sick of doing that and has real plans to make it permanent, once and for all.
According to a new report, Wells Fargo is the latest big-name bank to be scrutinized as part of the Consumer Financial Protection Bureau’s ongoing investigation into student loan servicing practices.
You there! The one ready to write a big, fat check to the Internal Revenue Service — drop that pen. The agency has announced that it will no longer accept checks for $100 million, so you’ll just have to write more than one check. So yeah, you can go ahead and pick that pen up again now. [More]
Colorado residents might have circled Sept. 16 with a bright green marker on their calendars: that’s the day the state has decided to drop the 10% marijuana tax in order to comply with a tax provision in its constitution.
Just last month federal regulators announced that an ongoing probe into potentially unscrupulous student loan-servicing practices resulted in nearly $18.5 million in refunds and fines from Discover Bank. Now, regulators appear to have Citigroup in their crosshairs, as the financial company announced it was party to an investigation. [More]
Following reports of Costco shoppers loading up entire trucks full of large boxes of cigarettes, presumably with the purpose of reselling them on the black market in other states, the wholesale club is now posting signs indicating that these customers will face much more scrutiny going forward. [More]
As federal regulators continue to probe potentially unscrupulous student loan servicing practices, the Consumer Financial Protection Bureau has ordered Discover Bank and its affiliates to pay nearly $18.5 million in refunds and fines for, among other things, overstating amounts due on student loans and failing to notify borrowers of their rights. [More]
In 1998, Congress passed a temporary moratorium on state taxes collected for Internet access (though a number of states were still allowed to collect them). The ban has been extended numerous times in the 17 years since, but is set to expire again this fall. Rather than merely kick the can down the road with another extension, the House of Representatives has voted (again) to make the moratorium permanent. [More]
In the last few years, tax return fraud has become a serious problem at the state and federal levels, thanks to the growth of e-filing and security holes in IRS and third-party tax software systems. Is the IRS to blame for this trend? There are really only two options: the IRS is either broke or incompetent. [More]
A tax transcript is a document from the IRS that shows key information from tax returns that you’ve already filed, or changes to what you and the government owe each other that may have been made after the return was filed. You can normally order them online, but the system is now closed after the IRS learned that people identified only as “thieves” accessed transcripts for about 100,000 people. [More]
California lawmakers trying to get a $0.02 tax imposed on sodas and other sugary drinks in the state have come up empty, after the proposed measure failed to pass an Assembly committee. Supporters said the law would help curb high rates of obesity and diabetes, while some critics said it wouldn’t properly address health issues and would hit low-income residents the hardest.
Most people dreaming of a career in professional sports that will take them around the country to play for huge crowds in major U.S. cities are probably imagining the glitz and glamor that goes with that job. But then there’s the un-fun parts, like paying taxes in each one of those states, as well as some cities that levy taxes against income earned locally. One former NFL player filed a lawsuit against Cleveland’s so-called “jock tax,” not to dispute that he owed taxes there, but because of how the city calculated what he owed.