Taxes Blog

Thursday, February 23, 2012 4:34 pm
By Kay Bell · Bankrate.com

Corporate taxation is getting a lot of attention thanks to President Barack Obama’s release of his plan to revamp how businesses pay taxes. But the man he likely will face in the battle for the White House also is getting some unwanted spotlight because of a tax break used by a corporation upon whose board

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Tags: tax, Taxes
Tuesday, February 21, 2012 2:28 pm
By Kay Bell · Bankrate.com

Taxpayers who are anxiously awaiting tax refunds have been even more disconcerted lately. When they go to check on the status of their refunds via the IRS’ online tracking tool, Where’s My Refund,  they are told that the agency has no record of their return. Don’t panic. If you e-filed and got an acknowledgement that

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Tags: tax, Taxes
Friday, February 17, 2012 2:03 pm
By Kay Bell · Bankrate.com

After months of wrangling, the payroll tax cut extension fight came to a quick — and positive for workers — end on Friday. Both the House and Senate signed off on keeping in place through 2012 the 2 percentage point reduction in the amount taken out of workers’ paychecks to pay for Social Security. The

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Tags: tax, Taxes
Thursday, February 16, 2012 2:53 pm
By Kay Bell · Bankrate.com

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

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Tuesday, February 14, 2012 3:58 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
Thursday, February 9, 2012 5:48 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
Tuesday, February 7, 2012 2:40 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
Thursday, February 2, 2012 2:36 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
Wednesday, February 1, 2012 4:19 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
Tuesday, January 31, 2012 12:41 pm
By Kay Bell · Bankrate.com

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

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Tags: tax, Taxes
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