Taxes Blog

Tuesday, August 17, 2010 2:22 pm
By Kay Bell · Bankrate.com

Summer’s almost over. Is that parents I hear cheering? I’m not a mom myself, but my neighborhood is full of kids. And I know from my neighbors who have outside-the-house jobs, that summer is always a challenge. Now I’m not saying that school is baby-sitting service, but from September to May, it sure helps parents

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Tags: tax, Taxes
Friday, August 13, 2010 9:27 am
By Kay Bell · Bankrate.com

Last weekend was the big one for the August back-to-school sales tax holidays. But three more events kick off this weekend. Florida, which took some time off from the no-tax events because of budget concerns, is back, starting today, Aug. 13, and running through Sunday, Aug. 15. For those two days, however, Sunshine State shoppers

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Tags: tax, Taxes
Thursday, August 12, 2010 2:50 pm
By Kay Bell · Bankrate.com

Most of the recent tax attention has focused on the possible expiration of the Bush-era federal tax cuts. That’s given states a chance to slide in under the radar and hike numerous consumer taxes. Levies on retail purchases, gas and cigarettes have continued to climb, according to data compiled by the tax information and software company CCH. “From

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Tags: economy, tax, Taxes
Tuesday, August 10, 2010 1:21 pm
By Kay Bell · Bankrate.com

A billionaire hedge fund manager claims bad tax advice caused him to lose $43 million in tax deductions for charitable contributions he made. And you thought your tax adviser was bad! Forbes magazine reports that Leon G. Cooperman filed a lawsuit in U.S. Tax Court trying to get his tax breaks reinstated after the IRS said

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Tags: tax, Taxes
Friday, August 6, 2010 9:49 am
By Kay Bell · Bankrate.com

The IRS might not have killed off tax refund anticipation loans, but the agency’s decision to no longer provide a free credit check mechanism is likely to make more lenders think twice about offering the costly short-term loans. IRS Commissioner Douglas Shulman has announced that with the 2011 tax-filing season, his agency will no longer

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Tags: Debt, tax, Taxes
Thursday, August 5, 2010 2:36 pm
By Kay Bell · Bankrate.com

Do you know who Donald Bren is? Neither did I. Neither, apparently, did bank employees at a Cerritos, Calif., branch of East West Bank. But an identity thief knew of Bren and allegedly has walked away with most of the Orange County, Calif., real estate magnate’s $1.4 million federal tax refund. Investigators say that a

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Tags: tax, Taxes
Tuesday, August 3, 2010 1:42 pm
By Kay Bell · Bankrate.com

High taxes mean happy residents. Really! OK, it’s probably not the taxes that are making people in The Netherlands, Denmark and Finland the happiest folks in the world. But the services those nations’ residents get for their taxes is probably why those countries are one, two and three in the Organization for Economic Cooperation and

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Tags: tax, Taxes
Thursday, July 29, 2010 2:56 pm
By Kay Bell · Bankrate.com

Are you psyched for the sales tax holiday in your state? Enjoy. But if you’re planning to go tax-free shopping in a neighboring state, you might want to reconsider. You’ll likely owe your own state a use tax on your out-of-state purchases. Use taxes are the companions to state sales taxes. They are assessed on otherwise tax-free

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Tags: tax, Taxes
Tuesday, July 27, 2010 2:35 pm
By Kay Bell · Bankrate.com

If you’re a shopper, especially one with school-age children, you love state sales tax holidays. If you’re a retailer, you love them, too, even though the short-term changes in tax collections causes you some administrative hassle. And if you’re a politician, especially in an election year, you definitely love tax holidays. So who’s not so

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Friday, July 23, 2010 4:34 pm
By Kay Bell · Bankrate.com

My blog item about what’s up with the estate tax prompted some questions from Bankrate reader Jay. First, Jay would appreciate if I would elaborate a bit on the change in the stepped-up basis rule that is affecting some people who’ve inherited estates. He also wonders whether there are any figures on the taxes gained

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