How long does the average taxpayer spend doing their return, and how can you use your time more efficiently?
What changes can you expect when you file your tax return, and what could they mean to you?
The government sent nearly one million consumers erroneous information on forms that they need to complete their 2014 tax returns. Now they're getting robocalls and emails advising them to delay filing until the mistakes get fixed. Continue reading ? The post Consumers frustrated by government error on health care tax forms appeared first on PBS NewsHour.
Here are some of the most common reasons tax returns get audited. Do any of them apply to you?
Need help filing your tax returns? You can receive free help by applying for the Volunteer Income Tax Assistance (VITA) program. Volunteer IRS-certified tax preparers will help you prepare your taxes through e-filing, if you qualify. Show More Summary
The mere mention of the word “mathematics” is enough to strike fear into the hearts of adults around the world. For thousands of people, the thought of doing annual tax returns, applying for a mortgage, or even just helping children with their homework can bring them out in an episode of cold sweats and get them running for the nearest calculator. Show More Summary
Have your tax refund in hand? So far, four out of every five tax returns has resulted in a refund to taxpayers with IRS paying out $125 billion to date in 2015.
Feds are dunning performer over his 2013 individual tax return The federal tax lien, filed earlier this month in New York City, reports that the two-time Academy Award winner owes Uncle Sam exactly $6,410,449.20. De Niro IRS lien read more
Feds are dunning performer over his 2013 individual tax return FEBRUARY 26--The Internal Revenue Service has hit Robert De Niro with a $6.4 million tax lien, according to records filed this De Niro IRS lien read more
People who got a subsidy from ObamaCare to help pay for their health insurance are getting a not-so-pleasant surprise on their taxes: H&R Block reports that 52% of people who got subsidies have to pay back a chunk of that money to the government. The average payback is $530, equating...
Were you one of the many taxpayers who submitted your income tax returns only to discover that the government gave you wrong information about healthcare subsidies? Well, you will be happy to know that the Treasury has officially waived...Show More Summary
Here's something that may cheer you up – the IRS reports a significant decline in the rate of audits done. Last year, the rate of audits (the percentage of individual tax returns flagged for examination by the IRS) fell to a measly 0.86%. Show More Summary
Many people are scared of getting audited but have no idea what that really entails. Here's a quick guide to audits so you'll know what to expect.
IRS audit rates have dropped, especially for high income taxpayers. But before you celebrate, remember that someone is still getting audited. Plan ahead, keep good documentation, and try to make your return pristine.
Forbes, 12 IRS Embarrassments, 6 Questions Each Taxpayer Should Ask, by Robert W. Wood: [Y]ou sign your tax return under penalties of perjury. That means your money—and conceivably your freedom—are on the line. It is one reason why the integrity of the IRS is so terribly important, and why the...
After Wesley Snipes battled years of legal troubles, some people in the industry had written him off after he was convicted for failing to file his tax returns. After his three year sentence Snipes made a serious effort to get his career back on track. Show More Summary
Whether you didn't receive it, it wasn't sent or it is stuck in the pages of January's People Magazine, somehow the tax documents you need to prepare your tax return, which were all due by January 31 or February 15, are nowhere to be found. Show More Summary
Failure gives man ability to hijack stranger's pending tax return.
The person in question is Terri Hodge, who was convicted in 2010 for lying on her tax returns and is working in Democrat Representative Eddie Bernice Johnson’s office.
We all hate the dreaded IRS audit, right? And sometimes even though we have filed our tax return as accurately and honestly as we can our return might still be flagged for audit. The good news is the IRS has a statute of limitation...Show More Summary