Taxes Blog

Tuesday, February 22, 2011 3:44 pm
By Kay Bell · Bankrate.com

Drugs have always tempted individual users. Today, they also are attractive to states and local jurisdictions facing fiscal difficulties. Several states require that dealers of various illegal drugs buy tax stamps. Now, lawmakers in more states and municipalities are looking at similar ways to make some much-needed legal money off illegal acts. The taxation of illegal drugs

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Thursday, February 17, 2011 3:27 pm
By Kay Bell · Bankrate.com

Mother Nature reminds us all the time of her power to inflict damage. Hurricanes. Tornadoes. Blizzards. Wildfires. Earthquakes. The list goes on and on. While these extreme hazards get lots of attention, more of us end up each year dealing with other less dramatic, but still unfortunate incidents. These include such things as home burglaries,

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Tuesday, February 15, 2011 1:51 pm
By Kay Bell · Bankrate.com

We are smack-dab in the middle of the federal tax filing season. That means most of us have been focusing on what the Internal Revenue Service wants from us by April 18. But for those of you living in one of the 43 states (and the District of Columbia) that collect some form of income

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Thursday, February 10, 2011 3:49 pm
By Kay Bell · Bankrate.com

While the new Congress is once again fighting health care reform battles, the Internal Revenue Service has resolved a medical tax deduction issue that had mothers across America up in arms. Last fall, the IRS issued its list of medical treatments, devices and the like that are deductible. Lots of common medical treatments made the list.

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Tags: tax, Taxes
Tuesday, February 8, 2011 3:07 pm
By Kay Bell · Bankrate.com

The two biggest tax preparation chains in the country are not only dealing with new tax laws and frustrated taxpayers, but they’re also squaring off against each other over an advertising campaign. Jackson Hewitt Tax Service has filed a federal lawsuit against H&R Block seeking an immediate end to what it says are “false, misleading and highly disparaging

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Tags: tax, Taxes
Friday, February 4, 2011 2:15 pm
By Kay Bell · Bankrate.com

The ice and snow that this week blanketed two-thirds of the Lone Star State (we got 3/4 of one inch overnight here in usually moderate Austin) tried to upstage Dallas’ big event, but the football gods intervened. The storm system has moved eastward and it looks like Super Bowl XLV will go on without weather worries. Of

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Wednesday, February 2, 2011 2:10 pm
By Kay Bell · Bankrate.com

I don’t know about you, but I am sooooo ready for winter to be over. Last night, thermometers in Austin dropped to 14 degrees, with the wind chill index near zero. Of course, I realize that other places are having it much worse. If you are in one of those areas that’s getting blasted by snow and ice

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Thursday, January 27, 2011 4:39 pm
By Kay Bell · Bankrate.com

Older taxpayers were watching closely during last December’s tax bill debate. They wanted to know if they could still roll money from their traditional IRA into a charity. The answer, finally delivered on Dec. 17, 2010, when the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 became law, was yes. Rollovers from

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Monday, January 24, 2011 12:18 pm
By Kay Bell · Bankrate.com

A lot of taxpayers are filing their tax returns this month because they are getting a refund. Now the Internal Revenue Service is making checking on those refunds easier, at least for folks who own smartphones. The IRS today unveiled IRS2Go, its first smartphone application. It allows taxpayers to check on their status of their tax

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Friday, January 21, 2011 11:25 am
By Kay Bell · Bankrate.com

The Internal Revenue Service has a special Valentine’s Day gift for us taxpayers whose 2010 tax returns have been placed on hold. Feb. 14 is the day the agency says it will begin processing our taxes. Because it took Congress so long to pass tax legislation that affects 2010 taxes, the IRS has been playing catch-up.

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Tags: tax, Taxes
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