Taxes Blog

Tuesday, May 3, 2011 12:43 pm
By Kay Bell · Bankrate.com

A recent New York Times/CBS News telephone poll on the deficit and taxes indicates that when it comes to dealing with the federal deficit, America’s feelings are as mixed — and as politically partisan — as those of folks on Capitol Hill who will have to make the country’s ultimate fiscal decisions.  In general, though, we

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Thursday, April 28, 2011 1:10 pm
By Kay Bell · Bankrate.com

The average tax refund last year was $3,003. Filing data complied by the Internal Revenue Service through April 8 show that refunds issued so far in 2011 are close to that amount. For returns processed by early April, the average refund was $2,895. Taxpayers who had refunds directly deposited to a bank account got a

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Tags: tax, Taxes
Tuesday, April 26, 2011 12:38 pm
By Kay Bell · Bankrate.com

Married couples usually have two choices when deciding which tax-filing status to use, married filing jointly or separately. But it’s a bit more complicated for spouses in same-sex marriages. In the states where such marriages are legal, gay and lesbian married couples typically are afforded the same filing status options as their heterosexual counterparts. On Internal Revenue

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Thursday, April 21, 2011 9:37 am
By Kay Bell · Bankrate.com

It’s official. President Barack Obama has declared portions of North Carolina that were hit by severe storms, flooding and tornadoes last weekend a major disaster area. And that has prompted the Internal Revenue Service to announce taxpayer relief for the disaster area residents. North Carolina state tax officials had already given affected taxpayers special treatment for their state

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Tuesday, April 19, 2011 3:02 pm
By Kay Bell · Bankrate.com

While millions of us were struggling to finish up our tax returns on Monday, April 18, folks in the Southeast had much more difficult and devastating battles on their hands. They were digging out of three days of deadly storms and tornadoes.  In times like that, nothing matters but finding your loved ones. And taxes definitely

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Thursday, April 14, 2011 1:39 pm
By Kay Bell · Bankrate.com

With the April 18 filing deadline bearing down, I know you’re focused on your 2010 tax return. But some of us have a couple of extra tax tasks to take care of by Monday, too. Are you looking to reduce your tax bill by deducting a traditional IRA contribution? You need to get that money

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Tuesday, April 12, 2011 10:54 am
By Kay Bell · Bankrate.com

Haven’t done your taxes yet? Maybe it’s because you’ve been working on your hairdo. OfficeMax’s 2011 Tax it to Me survey found that around 40 percent of respondents said they’d feel more confident taking a pair of scissors to their own locks than filling out their tax returns on their own. Before you go gender stereotyping, that

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Friday, April 8, 2011 1:52 pm
By Kay Bell · Bankrate.com

Yes, the tax filing deadline is close. But don’t get in such a panic that you fall victim to a tax scam. To make sure we all avoid this season’s most prevalent cons, the Internal Revenue Service has released its annual ”Dirty Dozen” tax scam list. These 12 scams could cost you more than you expect. Not only

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Thursday, April 7, 2011 12:47 pm
By Kay Bell · Bankrate.com

It’s looking like neither side is willing to blink in the government shutdown game of chicken. So what does that mean to taxpayers who haven’t filed their tax returns yet? Nothing. Internal Revenue Service Commissioner Doug Shulman has made it clear that while his agency will be short-staffed if the federal government runs out of money,

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Tuesday, April 5, 2011 2:46 pm
By Kay Bell · Bankrate.com

A lot of folks fear tax filing time because they’re afraid they’ll end up answering questions from the Internal Revenue Service. Yes, tax audits — or examinations as the IRS likes to call them, are real. But they’re not a problem for most of us. The IRS 2010 Data Book says that in the last fiscal

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