In a deep dive into Mitt Romney’s tax returns, it turns out that the 2012 GOP presidential candidate paid about $44,000 more in taxes than he owed.
IRS
The IRS Might Owe You $1,547
Usually when the IRS starts tracking people down, it’s because Uncle Sam is owed some money. But for 100,000 Americans somewhere out there, the IRS is trying to return $153 million.
Estates Paying Taxes: Down. Estates Filing Returns: Up
In 2011, some 3,300 estates will owe federal estate taxes, according to the Tax Policy Center. That’s the fewest in 75 years.
IRS Catches More Tax Cheaters — But They’re Already in Prison
Sex Change Surgery Is Now Tax Deductible
The Internal Revenue Service isn’t going to fight people any longer who want to deduct the cost of gender reassignment surgery from their taxes.
81 End-of-Year Money Tips
As 2010 comes to a close, keep some money in your pocket when bellying up to the bar or the fast food counter, considering luxury “status” purchases, shopping the post-Christmas sales, and planning your kid’s birthday party.
Anybody Want to Fight?
Tips for battling it out with debt collectors, TV-Internet-phone providers, the IRS, and more.
Certainties in Life: Death, Taxes, and an Onslaught of Springtime Tax Deduction Tips
Advice on overlooked tax deductions, tax deductions you think you can take but really can’t, the best (and worst) DIY tax-prep services, and more.
Federal Tax Myths: Your Dog Can Be Claimed as a Dependent?
The tax code is over 60,000 pages long. No wonder there’s a little confusion as to what’s taxable, who is most likely to get audited, and what you can claim as a deduction.
Got Tax Questions? There’s a 29% Chance You Won’t Get Answers from the IRS
Average wait time to talk with IRS via its 800 number: 12 minutes. Percentage of callers the IRS actually expects to answer this tax season: 71. And believe it or not, this is a big improvement from 2008, when barely over half (52.8%) of phone calls from taxpayers were answered.
A portrait of the tax cheat
Ever since UBS agreed to hand over the names on thousands of undeclared offshore accounts, U.S. taxpayers (or non-taxpayers, as it were) have been rushing to the IRS to confess their sins. The deal: come clean of your own volition, and you’ll owe a significantly reduced penalty and you won’t have to go to jail.
That partial amnesty ends …
