What raises eyebrows at the IRS? Are you one of those taxpayers worried about being audited? The fear may be overblown – according to Internal Revenue Service data, just 1.6 million taxpayers were audited in 2011. The agency reviewed about 1% of returns sent in by...
What raises eyebrows at the IRS? Are you worried about being audited? The fear may be overblown – according to Internal Revenue Service data, only 1% of taxpayers had their federal returns examined in 2012. Last year, 12.1% of millionaires had their returns scrutinized, down from...
Where could that money go besides a bank account? Should your refund be saved? According to a TD Ameritrade poll, 47% of U.S. taxpayers expect a refund this year. What do they plan to do with the money?1 The answers may surprise you. While 15% of the...
Make sure you give them a look as you prepare your 1040. Every year, taxpayers leave money on the table. They don’t mean to, but as a result of oversight, they miss some great chances for federal income tax deductions. While the IRS has occasionally fixed taxpayer...
Through January, you can still make one for 2012. Presented by: Kevin M. Nast Give & receive a tax break. Schools, hospitals and other non-profit organizations are welcoming the return of the charitable IRA rollover – an opportunity that lets a traditional IRA owner aged 70½...
How will Congress resolve these issues? Decisions must be made. In the next couple of months, Congress will address several major tax matters. Here are the big questions looming. The Bush-era income tax cuts. Will the current 10%-15%-25%-28%-33%-35% federal tax rate structure give way to 15%-28%-31%-36%-39.6% tax...
You may want to exploit these strategic opportunities. Will the Bush-era tax cuts expire next year? We may not have an answer to that question for several months. After the November elections, you could see them extended once again. Nothing is certain: with the daunting financing...
Keep an eye out for these signs. According to data compiled by Norton, cybercrime hits over 74 million Americans annually. You know you have been victimized when you get that courtesy call or email from a bank or credit card issuer - but is there a...
A look at the ripples from the Supreme Court decision. President Obama’s health care law has held up in the Supreme Court. So what impact might this have on the stock market, businesses, and investors in the coming months? How will Wall Street take this? After the...
What could that money do for you? Is a tax refund coming your way? If you have already received your refund for 2012 or are about to receive it, you might want to think about the destiny of that money. Here are some possibilities. Start (or add...