Taxes


If you’re new here, you may want to learn what this site is about. I encourage you to subscribe to my RSS feed. Thanks for visiting!The Internal Revenue Service offers a program that allows two-thirds of U.S. taxpayers to electronically file their tax returns for free.
The Free File program is a free federal tax [...]

[read all of Free Online Tax Preparation and E-Filing From the IRS]

Chris at Money Management International — the largest non-profit credit counseling and debt management organization in the U.S. — dropped a line yesterday. He saw my story about tax refunds and wanted to remind me of a new MMI site devoted to the subject:
We just released a new tax-themed site, SaveorSpend.com. While it has [...]

[read all of Save or Spend? The Tax Refund Dilemma]

Here’s a quick way to get a few extra bucks. Or, more precisely, to get back a few bucks you’ve already lost. This year the IRS is granting a one-time only Telephone Excise Tax Refund. This refund will return previously collected telephone taxes collected since 2003. According to the IRS web site:
[Individual] taxpayers have a [...]

[read all of Telephone Excise Tax Refund]

Kris and I received $2789 in tax refunds this year.
Already I can hear the sound of hundreds of heads thumping against hundreds of desks. Many of you are wailing, “Why?! Why?! Why?!” Of all the financial choices a person can make, getting a large refund is universally considered one of the dumbest. Magazines advise against [...]

[read all of A Contrarian View: Why I Love a Huge Tax Refund]

The latest issue of Money magazine has an article by Donna Rosato on how to file a tax return that won’t raise red flags with the IRS. (Curiously, the online version is slightly different than the magazine article.) Rosato writes:
Some 12 percent of people admit they think it’s acceptable to cheat on their taxes. [...]

[read all of Common Red-Flags That Lead to IRS Audits]

In 1913, Wyoming ratified the 16th Amendment, providing the three-quarter majority of states necessary to amend the Constitution. The 16th Amendment gave Congress the authority to enact an income tax. That same year, the first Form 1040 appeared after Congress levied a 1 percent tax on net personal incomes above $3,000 with a 6 percent [...]

[read all of Original Income Tax Form from 1913]

Here’s a guest post from Brian Brown, C.P.A. He offers advice on what to do if you find you can’t pay your taxes.
With enthusiasm and boldness, you head into 2007 with hopes of greater discipline in spending, saving and investing. However, much to your dismay, the first part of 2007 brings the inevitable day [...]

[read all of Taxpayer Panic: What To Do If You Can’t Pay Uncle Sam]

Tax season is upon us. Get Rich Slowly doesn’t have a body of tax articles yet, but Bankrate does. Bankrate offers the following resources:

Tax calendar — “Think April 16 is the only date that matters? Bankrate’s tax calendar informs you of other important deadlines.”
Tax news to use — “A tax tip a day will help [...]

[read all of Bankrate’s 2007 Tax Guide]

Here’s some end-of-the-year advice from new GRS-reader W.C. Varones, a finance professional from San Francisco. Varones writes that if you have investments for your children, now is the time to maximize them.

If you have stocks or mutual funds in investment accounts for your children, don’t let December pass without taking the opportunity to step up [...]

[read all of Tax Tips for Tykes]

An AskMetafilter user wonders how long to keep receipts:
I have been keeping all of my receipts for some time now. Every day, I enter them into my money tracking system (presently just a text file where I capture date, payee and amount). Then I file the receipts away in folders by month. My question: does [...]

[read all of Which Financial Records to Keep (and How Long to Keep Them)]

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