Advertisement
taxes

6 tax terrors and how to overcome them

Taxes » Tax Filing » 6 Tax Terrors And How To Overcome Them

Afraid I'll overlook a tax break
Afraid I'll overlook a tax break

Even folks who are brave enough to tackle their taxes on their own often face this fear. Again, it's not an unreasonable one. And once again, those folks in Washington, D.C., feed this fear.

Take, for example, the various tax laws created in response to the recent economic crisis. The first-time homebuyer credit was changed three times in less than two years. Definitions, such as who qualifies as a first-time purchaser, would make Merriam-Webster editors scream. And there are all sorts of limits and demands for various homebuying situations.

The remedy: Accept that tax filing is going to take some homework. Before you start your return, check out the countless publications -- including Bankrate's tax center. Sign up for daily or weekly (or both) tax tip newsletters. If you've been too afraid to start the process, check out "7 ways to get organized for the tax year." By staying on top of tax law changes and filing tips, you'll know exactly where this year's taxes might trip you up.

advertisement

Show Bankrate's community sharing policy
          Connect with us
MORTGAGE HOME EQUITY AUTO CDs CREDIT CARDS
Product Rate Change Last week
30 year fixed 4.08%  0.17 4.25%
15 year fixed 3.17%  0.06 3.23%
5/1 ARM 3.30%  0.07 3.37%
 
View Rates in your area Next
Product Rate Change Last week
30K FICO-based HELOC 4.36% --0.00 4.36%
50K FICO-based HELOC 4.06% --0.00 4.06%
100K FICO-based HELOC 3.91% --0.00 3.91%
 
View Rates in your area Next
Product Rate Change Last week
60 month used car loan 2.79%  0.10 2.69%
48 month used car loan 2.98%  0.06 2.92%
60 month new car loan 3.23%  0.05 3.18%
 
View Rates in your area Next
Product Rate Change Last week
1 Year CD 0.94%  0.04 0.90%
2 Year CD 1.13% --0.00 1.13%
5 Year CD 1.76%  0.02 1.78%
 
View Rates in your area Next
Product Rate Change Last week
Balance Transfer Cards 15.71% --0.00 15.71%
Cash Back Cards 16.41% --0.00 16.41%
Low Interest Cards 10.86% --0.00 10.86%
 
Next
advertisement
DAILY TAX TIP NEWSLETTER

Get expert advice during tax season on tax preparation and tips for cutting your tax bill.

advertisement

Connect with us