Taxes Blog

Want to make filing your annual state and federal tax returns easier? Bankrate’s Taxes Blog focuses on how to deal with real-life tax situations, from which forms to file to tax brackets and rates to credits and deductions that will lower tax bills. To ensure that the tax tips are up-to-date, Bankrate’s Taxes Blog also keeps an eye on tax-law changes and the politics behind state and Internal Revenue Code alterations. See the latest posts below.
Thursday, July 7, 2016 12:57 pm
By Kay Bell · Bankrate.com

The NBA and MLB impose luxury taxes on teams that exceed spending caps. The new NBA champion Cleveland Cavaliers are facing a $54 million luxury tax.

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Wednesday, July 6, 2016 3:59 pm
By Kay Bell · Bankrate.com

Lionel Messi is not having fun this summer. First he missed a penalty kick that cost his Argentina team a major championship. Now he’s a convicted tax felon in Spain.

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Thursday, June 30, 2016 10:51 am
By Kay Bell · Bankrate.com

The 2017 tax filing season is still 6 months away, but the IRS is already making plans to fight tax identity theft and refund fraud that it expects to see next year.

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Tuesday, June 28, 2016 12:29 pm
By Kay Bell · Bankrate.com

Baby boomers start turning 70 1/2 this year, but it’s the IRS that will be getting the gifts when boomers start taking taxable required distributions from retirement accounts.

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Thursday, June 23, 2016 2:34 pm
By Kay Bell · Bankrate.com

June 26 marks 1 year since the Supreme Court deemed same-sex marriages legal across the United States. Here are some tax and estate planning tips to help celebrate that anniversary.

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Tuesday, June 21, 2016 3:04 pm
By Kay Bell · Bankrate.com

Taxes take time to complete and that time costs a lot of money, around $409 billion, according to a recent Tax Foundation study.

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Thursday, June 16, 2016 12:14 pm
By Kay Bell · Bankrate.com

Philadelphia is about to become the largest U.S. city to tax beverages, sugar-sweetened and otherwise. In pushing for the tax, officials opted for the honest “we need the money” approach.

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Tuesday, June 14, 2016 2:01 pm
By Kay Bell · Bankrate.com

The Earned Income and additional child tax credits help put added money in the hands of millions of filers. They also are a source of tax fraud. A new law will delay refunds in 2017 on returns that claim these credits.

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Thursday, June 2, 2016 2:28 pm
By Kay Bell · Bankrate.com

Students duped into taking out loans to pay for college could get a tax break if a new Senate bill gets some traction.

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Tuesday, May 31, 2016 2:05 pm
By Kay Bell · Bankrate.com

Moving is a pain, even for the rich. In fact, a new study finds that the wealthy don’t move that much even if relocation would lower their tax rates.

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