Taxes Blog

Friday, June 11, 2010 2:14 pm
By Kay Bell · Bankrate.com

Congress, specifically the Senate, is looking at extending the first-time (and others) homebuyer credit yet again. Say it ain’t so! OK, it’s not a total extension. The latest proposal would be to give prospective buyers who had a contract in hand by April 30 until Sept. 30 to close on the sale. In case you

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Thursday, June 10, 2010 3:06 pm
By Kay Bell · Bankrate.com

I hate to be a nag (actually, I tell my husband I’m just detail-oriented!), but if you pay estimated taxes make sure you don’t miss the June 15 deadline for the second filing of 2010. These four extra payments a year are made by folks who get money that isn’t subject to payroll withholding. It could be

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Tuesday, June 8, 2010 2:25 pm
By Kay Bell · Bankrate.com

I vividly remember the first time I saw the ocean. But it really wasn’t the ocean. It was the Gulf of Mexico. To a preteen from arid West Texas, though, the Gulf was for all practical purposes “the” ocean. I’ve visited the Texas shore since. And I’ve lived in areas that afforded easy access to

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Thursday, June 3, 2010 2:07 pm
By Kay Bell · Bankrate.com

It’s an election year, and while a lot of folks are focusing on what might happen with the midterm votes for members of Congress, some state balloting will have a direct effect on taxes. In fact, Arizona voters last month decided they wanted to raise their taxes. That’s right. The Grand Canyon State electorate decided

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Tuesday, June 1, 2010 9:38 am
By Kay Bell · Bankrate.com

The mortgage interest tax deduction isn’t available to every taxpayer, but that doesn’t stop it from getting a whole lot of attention. The reason: Our homes are usually our largest purchases. And if you can claim this home-related tax break, it goes a long way in helping lower your eventual tax bill. But as I’ve noted over

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Tuesday, May 25, 2010 3:01 pm
By Kay Bell · Bankrate.com

The annual sales tax holiday season officially began today. True, Missouri has a tax-free event in April. But with the arrival of the Memorial Day weekend and the summer season, three more states — Virginia, Louisiana and Texas — are offering shoppers sales tax breaks. Virginia started its week-long hurricane preparedness sales tax holiday today,

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Monday, May 24, 2010 2:08 pm
By Kay Bell · Bankrate.com

The good news, at least for the real estate sector, is that home resales were up in April. The bad news is that the IRS audited more tax returns filed by homebuyers. The reason in both cases is the first-time homebuyer credit. Because of widespread fraud in claiming the tax credit when it first appeared,

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Thursday, May 20, 2010 1:56 pm
By Kay Bell · Bankrate.com

We’ve all heard the stories. A co-worker has a friend who’s got a relative who lives next door to a guy who’s ripping off the IRS. If we’re paying our fair share of taxes, then he should, too. Wouldn’t it be great if someone turned that tax cheat in? Yes, it would. And that’s been

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Tags: IRS, tax, tax cheat
Tuesday, May 18, 2010 9:11 am
By Kay Bell · Bankrate.com

When I was in college, I knew the frat boys and sorority sisters on Greek Row were different. But little did I realize that the general sense of entitlement exhibited by immature kids wearing Greek alphabetical names on their sweaters would turn out to be such an accurate reflection of many of today’s residents of that

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Thursday, May 13, 2010 10:39 am
By Kay Bell · Bankrate.com

It’s prime tornado season.  Folks in the Northeast and South are cleaning up after spring floods.  Hurricane season starts in a couple of weeks. Now’s the time to brush up on U.S. tax laws. Yep, the IRS can help when you take a hard hit from Mother Nature. You might be able to deduct on next year’s taxes

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