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Taxes

Beware of tax preparation company Mo Money Taxes, BBB says
February 8, 2012 1:30 PM

A number of Better Business Bureaus across the country are responding today to consumer complaints about Mo Money Taxes, a tax preparation company also known as MoneyCo USA. According to reports, Mo Money Taxes is not paying customers their refunds.

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Here's how to compare Romney's tax rate with yours
January 24, 2012 12:45 PM

If you've wondered how your effective federal tax rate compares with that of Republican presidential candidate Mitt Romney, here's how to figure it out:

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Advocate: Taxpayers seeing longer waits, erosion of rights
January 11, 2012 5:19 PM

Taxpayers are on the losing end of inadequate funding and bigger workloads at the Internal Revenue Service, the National Taxpayer Advocate reported today. As a result, they're suffering small indignities such as unanswered phone calls and larger insults that represent an erosion of their legal rights.

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Modified Internet sales-tax bill introduced in Senate
November 9, 2011 2:35 PM

UPDATE: Amazon has come out in support of the new Internet sales-tax bill. See quote below.

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Recent disaster victims may face challenges with tax software
October 21, 2011 1:44 PM

The IRS says that if you live in designated disaster areas in Texas and the Northeast, you can e-file or mail your federal tax return until October 31, rather than the original extended-filing deadline of October 17. Taxpayers in the affected zip codes will not be assessed late filing and payment penalties and interest if they have a balance.

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More online retailers collecting sales tax, industry group says
October 20, 2011 5:15 PM

Consumers should be prepared to start seeing sales tax collected on more and more of their online purchases as cash-strapped states look for additional sources of revenue, says tax industry research group CCH, a Walter Kluwers business.

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Money Mag: Louisville, CO, is best small town in the country
August 17, 2011 3:00 PM

The Colorado town of Louisville topped Money Magazine's annual list of 100 Best Places to Live. The 2011 list of the best American small towns was based on job opportunities, quality of school systems, economic strength, and weather, among other criteria.

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Airlines pocket difference on tax-free ticket sales, Senators call foul
July 27, 2011 3:15 PM

The government's ability to collect taxes from passengers on airfares expired amid the budgetary impasse last Friday. Instead of reducing fares to reflect that change, many airlines kept prices at levels they would have been at if taxes were still included in the cost of a ticket. Airlines then pocketed the difference. The Federal Aviation Administration can't collect these taxes until its budget is reinstated.

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IRS cracks down on family land gifts not declared at tax time
May 27, 2011 1:30 PM

The Internal Revenue Service is looking at land-transfer records state-by-state for evidence of people neglecting to report within-family real-estate gifts.

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Amazon's Bezos: Federal legislation required to address sales tax issues
May 11, 2011 5:30 PM

In comments at Consumer Reports' headquarters, Amazon.com founder and CEO Jeff Bezos stated that federal legislation is required to address differing state policies on the collection of sales taxes from e-commerce companies. He also said that the company will continue to drop affiliates in states that require them to collect sales taxes from their local marketing partners. "The big affiliates will pick up and move, which we're grateful for," he said.

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Many Americans are receiving bigger tax refunds—are you?
April 22, 2011 8:30 AM

Three quarters of Americans who file tax returns will get a check back from the government this year. And the value of those refunds is up over the previous year.

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Tips for filing your income tax at the last minute
April 18, 2011 12:00 PM

This year, American taxpayers got a few extra days to file their 2010 income tax reports. But for procrastinators, the time has come. Every taxpayer must electronically send or mail their personal 1040s by midnight tonight.

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Do you really need all that tax paperwork?
April 13, 2011 9:00 AM

Are you drowning in tax paperwork? Once tax season ends, do you dread finding room for yet another fat folder in an overstuffed closet, file cabinet or shelf? The IRS says all those stored papers may be overkill.

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Be on the lookout for tax scams
April 12, 2011 5:00 PM

If it sounds too good to be true, it is. However, not all tax scams are obvious. In some, fraudsters may tempt you with less-than-honest claims to a refund that you don't actually merit. Following is a rundown of some of the common scams to watch out for.

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2011 income taxes: How to file an extension with the IRS
April 11, 2011 3:20 PM

April 18 is the deadline for filing your 2010 federal income tax return to the Internal Revenue Service this year. But do you need to file for an extension beyond the IRS's gift of an extra three days? Maybe you need more time because of late 1099 reports from your financial institutions or perhaps you're just a habitual procrastinator?

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