Taxes

Class warfare: Who pays their fair share of taxes?

Several leading Republican candidates think more people should pay taxes, though they don't want to hike rates on the rich, which they call 'class warfare.' President Obama, meanwhile, supports a millionaire's surcharge. More

Smart tax moves for the holiday season

You're getting ready for Black Friday, not April 15. But all those one-day deals pale next to what you could save on your taxes by taking a few smart steps before Dec. 31. More

Herman Cain's 9-9-9 tax plan: Break for the rich?

Republican presidential candidate Herman Cain has a radical idea to reform the tax system. But experts say his 9-9-9 plan will help the rich, and hurt the poor. More

You can lower your tax bill, but move fast

Want to keep significant cash out of Uncle Sam's hands? You'll need to start strategizing long before Dec. 31. More

Millionaires to Buffett: Butt out on taxes

Some millionaires who would be lumped into Obama's proposed "Buffett Rule" are adamant that Warren Buffett isn't speaking for them -- they pay enough taxes already. More

How to solve the corporate income tax puzzle

Do major multinational companies pay income tax, or don't they? There's an easy way to find out, yet no one has ever asked for it. More

IRS crackdown: Tax cheat caught claiming 20 bogus kids

Tax fraudsters are getting more creative, but the IRS is making it harder for them to get away with their tricks. More

Tax hike on the rich would impact just 3% of taxpayers

Most Americans want to increase taxes on the rich, according to a CNN poll. But with only a small fraction of the tax-paying population qualifying as rich, will it make a difference? More

IRS gives break to victims of Hurricane Irene

The IRS is giving filing and payment extensions to taxpayers and businesses in federal disaster areas in North Carolina, New Jersey, New York and Puerto Rico. More

3 stealth tax traps

While Congress feuds over income taxes, little-known levies are taking a bigger and bigger bite. More

IRS hikes mileage rate by 4.5 cents

The IRS is increasing the mileage rate drivers can claim to 55.5 cents a mile -- a rare mid-year decision fueled by the recent rise in gas prices. More

IRS gave car tax credit without proof of purchase

Treasury Inspector General says Internal Revenue Service doled out $150 million worth of car tax deductions without checking receipts. More

Where's my $65,000 tax refund?

Parents who claimed the adoption tax credit are still waiting for their huge refunds to arrive, as the IRS struggles with missing paperwork and fraudulent claims. More

Who pays the most in property taxes?

New Jersey and New York residents get hit the hardest, while those in Louisiana and Alaska get off easy. More

Millionaires who owe no federal income tax

About 1% of millionaires end up not having to pay Uncle Sam anything on their income thanks to big, tax-advantaged investments, among other things. More

America's richest tax breaks

Lawmakers have expressed support for scaling back or eliminating many tax breaks. They have plenty to choose from: Dozens of tax credits and deductions are costing federal coffers more than $1 trillion a year. More

Fraudulent tax returns surge 181%

Fraudulent tax returns have surged 181% from a year ago, according to an audit conducted by the Treasury Inspector General for Tax Administration. More

45% don't owe U.S. income tax

The oft-misused statistic tells a somewhat different story than some would have you believe. More

The Obamas: A two-thirds pay cut in 2010

The vast majority of the family's $1.7 million income comes from the sale of the president's books. More

Your taxes are due!

You had three extra days to file your taxes this year, but the time has finally come to hand over your paperwork to Uncle Sam. More

Foreclosed? The tax man may want his cut

Adding insult to injury, defaulting borrowers can owe taxes on debts forgiven in defaults. More

Tax day is April 18 this year

Before you rush to file your taxes today, remember that you actually have three more days to get your forms turned in to the tax man. Taxes are due on Mon., April 18 this year. More

White House unveils 'receipt' for taxes you pay

Online calculator tells taxpayers what percentage of their taxes go to things like war, NASA and paying the interest on the deficit. But it lumps Fannie Mae and Freddie Mac bailout in with other expenses. More

Last-minute tax breaks for the unemployed

If you're unemployed, filing your taxes may be the last thing on your mind. But there are a handful of perks available for millions of Americans who ended up jobless last year. More

12 most common tax scams

With less than two weeks to go before Tax Day, scammers are hard at work rounding up every last penny they can get. Here are the top 12 scams taxpayers should watch out for this tax season, according to the IRS. More

Tax audits: 78% are done by mail

You're now almost four times as likely to find an audit notice in the mail, as you are to be asked to sit down for an in-person examination. More

Best tax deductions are domestic

This year's most promising deductions are domestic, from children to parents to housing. More

We're getting a $54,000 tax refund!

The Ward family is getting a $54,000 tax refund thanks to the adoption tax credit, which is refundable for the first time this year. More

Your tax bill: 3 months of work

Americans will work 102 days to pay federal, state and local taxes this year, with 'tax freedom day' falling on April 12, the Tax Foundation said Wednesday. More

IRS cracks down on millionaires

Tax audits of millionaires surged last year - especially among taxpayers reporting income of more than $10 million. More

Tax cheats: Single, young and male

Of the people who admit to cheating on their taxes, most are male, single and under the age of 45, a survey finds. More

Tax refunds: More saving and splurging

Most Americans are committing their tax refunds to savings, bills and paying down debt. More

Your tax questions answered

These answers to toughest tax challenges from MONEY readers can guide you through the rough spots on your return and help you slice your IRS bill. More

Average tax refund: $3,129

As tax season kicks into gear, the Internal Revenue Service is doling out refunds averaging more than $3,000 so far this year. More

They tried to deduct what?!

From pornography to emu feathers, here are 10 of the wackiest things taxpayers have tried to deduct. Uncle Sam - and the U.S. Tax Court - was not amused. More

$1.1 billion in unclaimed tax refunds

The IRS is holding on to $1.1 billion in potential refunds for the nearly 1.1 million Americans who didn't file a tax return for 2007. More

Tax burden falls for first time in decade

Tax burdens for Americans fell for the first time in a decade during the recession, as the economy slowed and tax revenues shrank at a faster pace than income. More

Happy Valentine's Day: Itemizers can finally file taxes

The Internal Revenue Service will begin accepting itemized tax returns on Monday. More

Companies that pay a lower tax rate than you

The United States has the highest corporate tax rate in the industrialized world, but few companies pay the full rate. Some pay barely any taxes on billions in income. More

Obama may limit tax breaks for rich

President is expected to include some recycled proposals in his 2012 budget request. Among them: Another call to cap the value of itemized deductions for high-income taxpayers. More

Tax cheats: Fess up without going to jail

Tax cheats hiding money offshore have until the end of August to fess up if they want Uncle Sam to take it easy on them. More

Lawmakers: Repeal 'onerous' IRS rule

After the House staged a symbolic repeal of health care reform, lawmakers focus on a measure that puts a burdensome tax filing requirement on small businesses. More

IRS: Itemizers can file on Feb. 14

The IRS announced Thursday that Feb. 14 will be the first day the agency will accept tax returns delayed by last month's tax law changes. More

Average tax refund in 2010: $3,003

Taxpayers received an average refund of about $3,000 last year -- a 5% boost from the previous year. More

Tax refunds on prepaid cards coming

Thousands of Americans could get refunds on a prepaid card instead of a paper check, as the government looks to give Americans without bank accounts an easier way to get their money. More

Americans spend 6.1 billion hours on their taxes

A watchdog report released Wednesday points to serious problems with the tax code, and IRS enforcement. More

Tax day extended to April 18

Taxpayers get three extra days to file their taxes this year thanks to the Washington, D.C., holiday Emancipation Day. More

50 million taxpayers must delay filing - IRS

Late changes to the tax code mean taxpayers who itemize their returns won't be able to file until mid- to late-February. More

Tax breaks may boost pay by $40 a week

Stimulus effort could mean more money per paycheck for some, but a few dollar less for others in 2011. More

Maryland millionaire's tax on the way out

The state drops the millionaire's tax in 2011. The two-year levy brought in $120 million, but state still faces $1.2 billion shortfall. More

Gas taxes being hiked in Oregon

State raises gas taxes by 25% to pay for road improvements. It's one of the few tax measures anywhere in the nation to take effect January 1st. More

Spare us the death tax - for now

The new law won't make a dent in how much the rich can leave their heirs, but don't think the battle is anywhere near over. More

Tax cut deal: What to expect in your paycheck

The tax legislation that President Obama will sign into law will have a bottom line effect on your take-home pay in 2011. More

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