The IRS is piling unopened business tax refund requests into storage trailers and advising companies to file by fax instead. It’s stopped answering phone calls on taxpayer assistance lines. And it’s not processing millions of paper tax returns filed by individual Americans.
The confusion comes for those to typically have their returns placed on a prepaid card, such as the H&R Block Emerald Card or Turbo Visa Debit Card. For them, it appears to be a mixed bag — some have received payment, but many haven’t.
Americans on Social Security now have to file a ‘simple’ tax return to receive a stimulus check. Most high school seniors and college students won’t get any money at all.
If you’ve filed and are awaiting a refund, you’re running to the mailbox or checking your online bank account every day (for those choosing direct deposit).
"They're not giving up their tax exemption," said one analyst. ”I assure you that is sacrosanct."
Republican president William Taft successfully advocated for a permanent, national income tax.
In most cases, if you sell an asset at a profit, you'll have to pay capital gains tax, unless you qualify for one of the few capital gains tax exemptions that exist in the U.S. tax code.
The IRS treats unemployment benefits just like any other income, so unemployment is often taxable. Learn how to avoid getting a big tax bill.
Treasury Secretary Steven Mnuchin announced Friday that the deadline for filing federal taxes will move from April 15 to July 15 -- a move to ease the burden the coronavirus outbreak has put on individuals and the economy.
As tax season approaches, the annoying voice in the back of your head keeps telling you to submit your return. Most of us procrastinate on this issue and then rush to get things done before the deadline. This year is going to be different. You vow that you’re going to prepare better for your filing.
Freelancers and independent contractors have more issues during tax season than traditional employees. Here’s what you need to know.
The upcoming Memorial Day weekend marks the start of the traditional summer driving season. In most states, summer road-trippers are paying more gas tax than they did a few years ago and are benefiting from smoother and safer roads as a result. In total, 30 states have raised or reformed their gas taxes in the last six years.
People with taxable incomes of less than $22,250 a year no longer would be taxed; rates for higher amounts would be cut about 6.6 percent.
Monday is the deadline for Americans to file their personal income taxes.
Minnesota is among a minority of states — just 13 — that impose a state-level tax on Social Security benefits. Why does Minnesota do that? The answer can be traced back to the overall design of our state's income tax system.
The Legislature should start by fully funding revenue sharing and state education funding.
Some Americans are getting a sobering surprise as they finish their 2018 taxes -- instead of getting an expected refund, they owe money. And they may be in the same boat next year, too.
Despite all the talk about a tax cut after President Trump’s successful overhaul of the tax code, many people are reporting that they are paying more to the federal government.
For Tax Day, ITEP has released several new reports that tell a broad story about our nation’s federal, state and local tax systems, providing important details about taxes we all pay and research on the tax-paying habits of Fortune 500 corporations. And of course, we have a trove of other tax policy resources.
The new law adjusted the withholding tax from paychecks, so most people kept more money for most of last year.