Taxes Blog

Tuesday, December 13, 2011 2:58 pm
By Kay Bell · Bankrate.com

Congress is caught up right now with the payroll tax issue. That is important. Unless the temporary 4.2 percent tax rate is extended, workers will get smaller paychecks in 2012. But this legislative single-mindedness means that some other tax laws that also expire on Dec. 31 are falling by the wayside. One of those tax

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Tags: tax, Taxes
Thursday, December 8, 2011 3:56 pm
By Kay Bell · Bankrate.com

Remember when General Electric stiffed Uncle Sam on federal taxes? Then we found out that more than two dozen big companies also found ways to avoid paying the IRS and some even got back tax refunds? Now comes word that 265 of the most consistently profitable U.S. corporations cost states $42.7 billion in taxes over

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Tags: tax, Taxes
Tuesday, December 6, 2011 3:04 pm
By Kay Bell · Bankrate.com

After 10 days of sneezing, coughing and sniffling, not to mention dealing with sore, scratchy throats (I almost lost my voice; to the hubby’s dismay, I didn’t) and itchy eyes, my better half and I are finally over our colds. We each get one every time we fly. Usually that means one of us gets

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Tags: tax, Taxes
Thursday, December 1, 2011 3:55 pm
By Kay Bell · Bankrate.com

How many Christmas presents could you buy with $1,547? That’s the average amount of tax refund checks returned this year to the Internal Revenue Service because the U.S. Postal Service couldn’t deliver them. Now Uncle Sam wants to get the cash, which totals more than $153 million, to its rightful owners, all 99,123 of them.

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Tags: tax, Taxes
Tuesday, November 29, 2011 5:20 pm
By Kay Bell · Bankrate.com

You got a job for the holidays. That extra cash certainly will come in handy. But be careful, or you could end up paying more than you expected to the IRS. Many businesses nowadays are hiring folks as independent contractors rather than as employees. The distinction makes a big difference in who’s responsible for income

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Tags: tax, Taxes
Wednesday, November 23, 2011 1:48 pm
By Kay Bell · Bankrate.com

You think your holiday to-do list is long? Look at what Congress must deal with now that its special bipartisan committee failed to reach a deficit reduction deal. In case you haven’t heard, the Joint Select Committee on Deficit reduction, popularly known as the supercommittee, was supposed to find at least $1.2 trillion in deficit

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Tags: tax, Taxes
Tuesday, November 22, 2011 1:17 pm
By Kay Bell · Bankrate.com

The end of the year gets so crazy. But you can make it crazy good for your taxes by checking out my slideshow of 10 tax moves to make by Dec. 31. Oh, you already did? Thanks! Then I’ve got a bonus 11th tax move tip just for all you loyal blog readers: Make sure

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Tags: tax, Taxes
Tuesday, November 15, 2011 3:35 pm
By Kay Bell · Bankrate.com

Since Kim Kardashian’s marriage only lasted 72 days before she decided to call it quits, I doubt she and Kris Humphries ever got around to talking taxes. But for the rest of us who have been married longer or plan to be, marriage means tax sharing, including payroll withholding responsibilities. When both spouses work, it

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Tags: tax, Taxes
Thursday, November 10, 2011 1:20 pm
By Kay Bell · Bankrate.com

Gather ’round, kiddies. It’s time to hear the Great Christmas Tree Tax Tale of 2011, a new and short-lived holiday classic. It’s a not-so-heartwarming tax story that, in true American fashion, is dramatically overblown and got us thinking about Christmas before our next regularly scheduled holiday of Thanksgiving. Once upon a time (actually in 2009)

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Tags: tax, Taxes
Tuesday, November 8, 2011 4:13 pm
By Kay Bell · Bankrate.com

Inflation has been low for the last few years. If you’re a buyer, that’s good because prices have been low. But if you depend on Social Security benefits, that’s not been too good because those recipients haven’t seen a cost-of-living bump in their monthly checks for two years. That will change in 2012. But another

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Tags: tax, Taxes
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