Category Archives: Tax Returns

Procrastinators rejoice: Tax deadline extended to April 17

By doris | Published: January 5, 2012

Full Story at BottomLine.msnbc.msn.com If you’re the type of person who likes to wait until the last minute to file your taxes, congratulations: You have two more days to procrastinate. The Internal Revenue Service announced Wednesday that 2011 federal tax returns will not be due until Tuesday, April 17 this year. That’s because April 15, [...]

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Tax day extended to April 18

By doris | Published: January 4, 2011

Full Story at money.cnn.com NEW YORK (CNNMoney) — You get three extra days to file your taxes this year. They’ll be due on Mon., April 18. But it’s not because of a previously announced processing delay that will prevent people who itemize their taxes from filing before mid- to late February, the IRS said Tuesday. [...]

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Stealth IRS changes mean millions of new tax forms

By doris | Published: May 22, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — The massive expansion of requirements for businesses to file 1099 tax forms that was hidden in the 2,409-page health reform bill took many by surprise when it came to light last month. But it’s just one piece of a years-long legislative stealth campaign to create ways for [...]

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5 tax breaks you should look at

By doris | Published: March 2, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Tax season is upon us. And while nobody likes shelling out their hard-earned dollars to the IRS, this year the government is offering up some new opportunities that could save you big money. As part of the American Recovery and Reinvestment Act, or stimulus bill, Congress introduced [...]

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Tax audits: Uncle Sam wants you!

By doris | Published: February 18, 2010

Full Story atmoney.cnn.com NEW YORK (CNNMoney.com) — Worried about a tax audit? Maybe you should be. More Americans than ever may be subject to unwanted attention from the Internal Revenue Service this season as the government pumps billions of dollars into tax collection. More than 1.4 million Americans were audited last year, the most in [...]

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Lost money? Score a whopping tax refund

By doris | Published: February 17, 2010

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Sick of sending big checks to the IRS? For some business owners, this tax season will bring a rare reversal: A stimulus-fueled tax change is putting cash back into the pockets of qualifying entrepreneurs. Bill Hewitt, who owns several real estate ventures in Denver, recently collected a [...]

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7 most overlooked tax deductions

By doris | Published: January 22, 2010

Full Story at  msnbc.com Through deductions, American wage earners have the chance to pocket more income rather than hand over their hard-earned cash to the government. For those who keep good records, deductions can mean more money — and less for the IRS. You probably know the most common deductions, such as deductions for property [...]

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Congress lets 50 tax breaks expire at end of ’09

By doris | Published: January 4, 2010

Full Story at msnbc.com When members of the U.S. Senate went home earlier this month, they left the future of 50 individual and business tax breaks in limbo. All expire at the end of 2009. Among the disappearing breaks are the research tax credit and an annual alternative minimum tax “patch,” which keeps 23 million [...]

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Tax credit is coming back to bite millions

By doris | Published: November 17, 2009

Full Story at  msnbc.com WASHINGTON – More than 15 million taxpayers may owe the government $250 or more because of how the IRS last spring set up President Barack Obama’s tax break that was designed to help consumers spend the U.S. economy out of recession. Individuals with more than one job and married couples in [...]

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47% will pay no federal income tax

By doris | Published: October 1, 2009

Full Story at money.cnn.com NEW YORK (CNNMoney.com) — Most people think they pay too much to Uncle Sam, but for some people it simply is not true. In 2009, roughly 47% of households, or 71 million, will not owe any federal income tax, according to estimates by the nonpartisan Tax Policy Center. Some in that [...]

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Surprise: Uncle Sam’s jobless gift has strings

By doris | Published: March 7, 2009

Full Story At msnbc.com CHICAGO – Some Americans are learning a jarring lesson about unemployment as they prepare their tax returns. At a time when the newly laid-off are swelling unemployment rolls to record numbers, the painful surprise for many is that jobless benefits are taxed like income. That leaves many on the hook for [...]

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Stimulus checks scrambling many tax returns

By doris | Published: February 7, 2009

Full Story At msnbc.com Nearly 1 of every 6 tax returns filed so far includes errors in reporting last year’s federal stimulus payments, the Internal Revenue Service said, blaming confusion among professional tax preparers and early releases of tax software. The government sent nearly 119 million checks of $300 to $1,200 last year as a [...]

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