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Tax-Time Errors Filers Should Avoid

Mistakes on tax returns mean they take longer to process, which in turn, may cause your refund to arrive later. The IRS cautions against these nine common [...]

Tax refunds average $3,000, add $300B to economy

WASHINGTON – Here's a potential boost for the economy: The Internal Revenue Service expects to issue up to $300 billion in tax refunds this year. IRS [...]

Important Dates for Tax Year 2010

  Nobody likes being nagged, but we are going to risk reader displeasure by reminding everyone that there are hefty financial consequences if you owe [...]

Taxable or Non-Taxable Income?

Generally, most income you receive is considered taxable but there are situations when certain types of income are partially taxed or not taxed at all. To help [...]

10 Ways to Avoid a Tax Audit

While you can never completely "audit-proof" your business's income tax return, you can take actions that will greatly reduce your chances of being [...]

IRS Targets 1040 Schedules, Procedures in Preparer Compliance Visits

In its current round of office visits involving tax preparer compliance, the IRS is targeting practitioners who prepare a high percentage of returns with [...]

Do I have to File a Tax Return

You must file a federal income tax return if your income is above a certain level; which varies depending on your filing status, age and the type of income you [...]

IRS Kicks Off 2011 Tax Season with Deadline Extended to April 18; Taxpayers Impacted by Recent Tax Breaks Can File Starting in Mid- to Late February

The Internal Revenue Service today opened the 2011 tax filing season by announcing that taxpayers have until April 18 to file their tax returns. The IRS [...]

The Most-Overlooked Tax Deductions

Every year, the IRS dutifully reports the most common blunders that taxpayers make on their returns. And every year, at or near the top of the “oops” [...]

13.4M People May Owe More Taxes Because of Making Work Pay Credit

Approximately 13.4 million taxpayers who received the Making Work Pay Credit that was included in the economic stimulus bill may end up owing taxes, [...]