Taxes

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For many Americans, it’s become an annual rite of spring: waiting with anticipation for that tax refund check to arrive in your mailbox or bank account. Last year, the Internal Revenue Service issued more than 94.8 million refunds worth almost $255 billion. The agency is on track to send out a similar amount in refunds …

Tax filers beware!

It’s tax day and the IRS is warning filers to beware of tax-related scams.

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Don’t worry if you can’t make the April 15 deadline to file your federal taxes. You can ask for an automatic six-month extension from the Internal Revenue Service. By filing an extension, you will avoid stiff penalties for not filing your federal tax returns by the April 15 deadline. But you will need to complete …

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The IRS is warning the public to be aware and it’s out with its “Dirty Dozen” Tax Scams for 2015. Topping the list: aggressive and threatening phone scams. The agency says to be wary of callers posing as IRS agents, threatening to have the taxpayers licences revoked, deported, or even arrested. The IRS says never …

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U.S. Treasury checks are piled at the U.S. Treasury printing facility in Philadelphia.

Sometimes it pays to be late. Average tax refunds tend to decline as returns are filed through the four months of tax season, according to CNBC.com’s analysis of data from the Internal Revenue Service. (Tweet This) Taxpayers who filed their returns in January this year saw an average refund of $3,539, according to the data. …

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By the end of the last year’s tax filing season, 78 million of the 150 million tax returns filed were electronically filed by tax professionals, and another 48 million were e-filed online individually. Even more taxpayers are expected to e-file this year—many of them using Intuit’s TurboTax, the most popular tax preparation software, or its …

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As the April 15 income tax filing deadline approaches, experts say it’s the ideal time to turn your attention to … next year’s return. The benefits can be both financial and practical. (Tweet This) Start by considering this year’s outcome, said Barbara Weltman, a tax and business attorney based in Vero Beach, Florida. “Did you …

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The Internal Revenue Service headquarters is shown in Washington.

Remember those doomsday predictions about the alternative minimum tax hitting millions of middle-class households? They have not come true, thanks to a patch in the tax law that indexes alternative minimum tax rates to inflation. But there are two newer taxes created by the Affordable Care Act that do not have that feature, and when …

Tax day market trends

Bob Pisani takes a look at how the stock market performs right before and after tax day.

Unusual tax deductions

Sharon Epperson tells us some of the unusual tax deductions you may be eligible for.

Individual tax share grows

According to a new report, individuals tax share is growing while corporate tax revenue is lagging.

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Psst. Looking to get a body piercing in Arkansas? It’ll cost you. Arkansas charges sales tax on body piercing, pet grooming, and gutter cleaning. (Tweet this) And the state has company, according to research by Cheapism.com, a website focused on saving money. Virtually every state has oddball taxes or tax breaks on the books, and it’s …

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It’s that time of year again. No, I’m not talking about March Madness. I’m talking about taxes. The April 15 deadline is fast approaching and, if you’re like most Americans, you haven’t filed your taxes yet. But don’t put it off too long. One common error many young filers make is missing the deadline. “A …

Mike Segar | Reuters
One57, a new luxury skyscraper apartment building on New York City's West 57th street.

Talk about a steal: The total property tax bill for a $100 million Manhattan penthouse apartment came to $17,268—a rate of just 0.017 percent— thanks to a controversial valuation loophole. The calculation, made by The New York Post using data from Revaluate.com, highlights the unusual methods the city employs when calculating real estate values for …

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For a document just two pages long, the Form 1040 has plenty of pitfalls for taxpayers, errors that could needlessly boost your bill, require an amended return or even trigger an audit. Americans spend a lot of time just filling out their tax forms each spring. Form 1040 filers toil over the two-page document for …