Taxes Blog

The latest political game of “I’ll show you mine if you show me yours” continues, with Rick Santorum being the latest Republican candidate to reveal his tax returns. Santorum, who’s giving the ostensible GOP presidential nominee frontrunner Mitt Romney a real challenge in the approaching Michigan primary, released four years of federal income tax returns

The good news for workers enjoying the temporary 2 percentage point payroll tax cut is that it looks like the lower tax is closer to being extended for all of 2012. The House Republican leadership has offered to support the extension without finding money from elsewhere to pay for the $100 billion it will cost

More than 112 million taxpayers filed their returns electronically last year. If the 2012 filing season follows the trend of recent tax years, even more will e-file their taxes this year. But that doesn’t mean everyone is happy about the prospect or process. A survey conducted by late last month by Ipsos for online tax

The Internal Revenue Service’s main job is to collect our tax money. And some of that tax money comes from, or is supposed to come from, accounts that U.S. taxpayers have in foreign locations. This filing season, a new reporting requirement, Form 8938, should help the IRS reel in taxes on foreign-held funds. It’s the

Chances are you’re a Facebook fan. And I’m sure you like Bankrate on that social network. Now with Facebook’s initial public offering, or IPO, announcement, even tax geeks are finding new things to love, or at least discuss, when it comes to the social media giant. Thanks to details in the Facebook S-1 filed with

If you’re a Citibank customer, especially one who opened an account last year as part of a promotion that included frequent flier miles as a bonus, you are in for a tax surprise. One of the tax statements you just received is a Form 1099-MISC from the financial institution informing you that you owe taxes

The New York Giants players are focused on Sunday’s Super Bowl rematch with the New England Patriots, but the team’s financial personnel are facing an off-field foe: the tax man. East Rutherford, N.J., officials contend that the Giants owe $1.5 million in property taxes on their training facility in the Garden State. The Giants say

What’s a tax filing season without a glitch? This year the problem is tax fraud. But it’s not what you might think. The Internal Revenue Service has implemented a new tax refund fraud detection system. Basically, the agency has added screening mechanisms to make sure that the refunds go to rightful owners. But the fine-tuning

It’s been two days since presidential candidate Mitt Romney released an avalanche of tax returns. That same night, President Barack Obama emphasized in his State of the Union address that every American needs to pay his or her fair share of taxes. No one disagrees with the president about that. But it didn’t take a

We now all know what the Internal Revenue Service knows about Mitt Romney. He’s rich — earnings of $21.7 million in 2010 and an estimated $20.9 million last year — and he pays a relatively low tax rate because most of his earnings in 2010 and 2011 were from investments. Most of Romney’s money, known