Taxes Blog

Friday, August 26, 2011 2:40 pm
By Kay Bell · Bankrate.com

It’s no secret that there are few boundaries in the financial world. European banks have branches in the United States. China is America’s largest creditor. U.S. taxpayers owe the Internal Revenue Service on all their global income. What? You say that last one, about your income being taxed regardless of where in the world it

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Thursday, August 25, 2011 11:19 am
By Kay Bell · Bankrate.com

When I was a kid, the big government bugaboo was welfare. President Bill Clinton and a Republican Congress revised that system 15 years ago. Since changes to the program, welfare caseloads have dropped by 57 percent nationwide. But Americans still need someone to blame for their and the country’s troubles.  So now it’s all about

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Tags: tax, Taxes
Tuesday, August 23, 2011 1:52 pm
By Kay Bell · Bankrate.com

Classes cranked up here in Texas this week. After Labor Day, kids everywhere will be back in school. Parents of college-age students probably already know they can take advantage of tax credits to help pay those ever-increasing education costs. But there also is some help from the Internal Revenue Service for younger students. The most

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Friday, August 19, 2011 2:14 pm
By Kay Bell · Bankrate.com

School’s starting up and back-to-school sales tax holidays are winding down. Texas today kicked off its three-day sales tax event. From Friday, Aug. 19, through Sunday, Aug. 21, Lone Star State shoppers don’t have to pay state and local sales taxes on clothing and shoes costing less than $100; backpacks priced at less than $100;

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Thursday, August 18, 2011 2:31 pm
By Kay Bell · Bankrate.com

We watched last month as Congress brought America to the brink of default in its fighting over the federal debt ceiling extension. We saw the Federal Aviation Administration temporarily hamstrung and federal airline taxes halted, messing up not only Uncle Sam’s budget but causing tax confusion for the IRS and individual fliers, too. Is the

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Tuesday, August 16, 2011 10:06 am
By Kay Bell · Bankrate.com

Hot enough for you? If not, come on down to Texas, where we’re on pace to have our hottest summer on record. The only people enjoying this weather are air-conditioning repair firms and utility company billing offices. Meanwhile, we sweltering residents just push the thermostats up as high as we can bear. It’s a choice

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Friday, August 12, 2011 2:54 pm
By Kay Bell · Bankrate.com

Shoppers in three states this weekend won’t have to worry about some sales taxes, both online and in the store. Their states are holding sales tax holidays. Florida, Massachusetts and Maryland are the latest states to hold back-to-school sales tax savings events. Florida’s tax holiday began Friday, Aug. 12, and runs through Sunday, Aug. 14. Shoppers will

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Thursday, August 11, 2011 1:29 pm
By Kay Bell · Bankrate.com

Amazon.com Inc is leading an effort to put California’s recently enacted online sales tax law to the voters next year. If you’re one of the few who didn’t think the online giant was ballsy enough in its sheer opposition to collecting sales taxes from customers and its threats to pull projects from states to obtain tax

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Tuesday, August 9, 2011 9:59 am
By Kay Bell · Bankrate.com

It’s only Tuesday, but for those of us hoping to retire sooner rather than later, it’s probably going to be a very long week. Actually, thanks to Standard and Poor’s decision to drop the United States’ creditworthiness from triple-A to AA-plus, it’s probably going to be a stretch of very long months. The rating agency’s

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Tags: tax, Taxes
Friday, August 5, 2011 2:28 pm
By Kay Bell · Bankrate.com

If you were counting on an airline ticket tax refund, you’re out of luck. When Congress was unable to agree last month on a bill to continue funding the Federal Aviation Administration, not only did around 74,000 people lose their jobs, but taxes tacked onto airline tickets also lapsed. Thanks to that legislative oversight, it

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