Taxes Blog

Thursday, September 16, 2010 2:13 pm
By Kay Bell · Bankrate.com

While I was letting Congress know that it needs to stop encouraging taxpayers to cheat, a Senator decided it was time to make sure his colleagues are properly paying the IRS. Sen. Tom Coburn, R-Okla., has introduced a bill that would require U.S. lawmakers to disclose any money they owe in delinquent taxes and to have

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Tags: Congress, IRS, tax, Taxes
Tuesday, September 14, 2010 3:30 pm
By Kay Bell · Bankrate.com

Dear Representatives and Senators, Bankrate Taxes Blog reader Jackie has a message for you: I did take the original tax credit and … felt cheated when the revised 2009 credit was passed. This is especially true since I closed just 11 days too soon to take the revised credit. So I will dutifully pay back

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Thursday, September 9, 2010 3:27 pm
By Kay Bell · Bankrate.com

That headline isn’t anything new. There’s been a ton of confusion about the first-time homebuyer tax credit, which has been revised what seems like a million times since it was created back in 2008. OK, it’s only been four times, but who’s really counting? The tax break is supposed to come to an end this

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Tags: IRS, tax, Taxes
Tuesday, September 7, 2010 3:12 pm
By Kay Bell · Bankrate.com

If you’re a late-night cable TV viewer like me, you’ve seen the ads: ”Owe the IRS? No worries! We can settle your tax debt for pennies on the dollar!” Such tax resolution claims should raise suspicions for two reasons. First, if this is such a good deal, why are they advertising during 2 a.m. Matlock reruns? Couldn’t

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Tags: Debt, tax, Taxes
Friday, September 3, 2010 10:39 am
By Kay Bell · Bankrate.com

Two more state sales tax holidays are now underway. Louisiana’s Second Amendment Tax Holiday begins today, Friday, Sept. 3, and runs through Sunday, Sept. 5. Although it was touted as a constitutional statement during last year’s inaugural tax-free weekend, this year the state is positioning the event as simply three tax-saving shopping days for hunters.

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Tags: sales tax, tax
Thursday, September 2, 2010 2:29 pm
By Kay Bell · Bankrate.com

I no longer live in hurricane country, but I still watch the weather reports closely. Go through a couple (or more) of these storms and even if you don’t suffer major damgae, the memories linger. It seems, though, that folks along the coasts tend to get complacent. Please don’t. Hurricane Earl might not make landfall

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Wednesday, September 1, 2010 4:31 pm
By Kay Bell · Bankrate.com

The Labor Day weekend is almost here and you’re hitting the road for one last blast of summer fun. You’ve tuned up your car, plotted your route and have a little extra cash on hand to pay any potential crash taxes. Yep. Crash taxes. These are fees that many cities and counties are charging drivers

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Tuesday, August 31, 2010 10:53 am
By Kay Bell · Bankrate.com

The IRS has determined that credit card rebates donated to charitable groups are OK and, more importantly to the giver, are tax deductible as long as the gifts comply with the tax law concerning donations. That means that the donated reward amounts must go to qualified organizations, be made in the tax year for which the donation

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Friday, August 27, 2010 2:20 pm
By Kay Bell · Bankrate.com

Timing is definitely everything, in blogging as well as taxes. Earlier this week, I sang the praises of paying tax bills electronically via the IRS’s Electronic Federal Tax Payment System, or EFTPS. Now it appears that criminals have found EFTPS, too. The IRS says it recently became aware of a fraudulent scheme targeting EFTPS users. Taxpayers

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Tags: tax, Taxes
Thursday, August 26, 2010 4:45 pm
By Kay Bell · Bankrate.com

Have you been looking over your shoulder for the tax collector? If you live in in Florida, Illinois, Kansas, Maine, Nevada, New Mexico or Washington, D.C., you might be able to stop worrying.  Those locations are in the midst of or about to start tax amnesties. They are just the latest to jump on board the tax amnesty train. Yep, these

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Tags: tax, Taxes
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