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Filing Taxes

While nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.
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What's New for Your 2006 Tax Return

By Now You have your W-2s and 1099s from last year. So you're all set to prepare your 2006 return, right? Not so fast. Some new provisions are in place this time around, and it's important that you be familiar with them in order to take advantage of all your rightful tax breaks.
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Do I really need to file a return ?

If you've clicked on this article, you're probably hoping you don't need to file a tax return this year. Obviously, most people do. But if your income was low enough, you may be off the hook. Here's what you need to know.
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What's Your Filing Status?

What's your filing status? Seems like a simple question. But simple just isn't in the IRS's vocabulary. Your status can depend upon when you married, when your spouse died or who else lives in your home. A mistake can be costly. So, here's what you need to know.

Single
If you are unmarried as of Dec. 31, you generally must file as a single person for that year. Why? Because your marital status at year end applies for the entire tax year. Naturally, there are some exceptions. See Qualifying Widow/Widower and Head of Household, below.

How To

Take Advantage of 0% Cap Gains Before It's Too Late Take advantage of the 0% tax rate on long-term capital gains before it's too late.

General

Philly trying to preserve jobs while making cuts (AP) AP - Nearly a year ago, Mayor Michael Nutter took office amid glowing optimism: With the slogan "A New Day, A New Way," he promised to add hundreds of police officers, scale back taxes and help more Philadelphians get college degrees.

Filing Taxes

5 Smart Ways to Use That Refund Sample Image

While nobody likes filing tax returns, most people are rewarded handsomely for their efforts: About 75% of taxpayers get a refund, according to the Internal Revenue Service. In 2005, the average refund rang in at more than $2,000, a nice chunk of change.

Investment Taxes

OMB Control Numbers The Disclosure, Privacy Act, and Paperwork Reduction Act Notice for the
IRS Form 1040 states in part:
You are not required to provide the information
requested on a form that is subject to the Paperwork
Reduction Act unless the form displays a valid OMB
control number.
The fact that such a warning is printed on the IRS Form 1040

Work and Business Taxes

Tax Tips for Married Business Owners When married couples run unincorporated small businesses, they can really get nailed by the federal self-employment tax (SE tax). In fact, these small-business owners often face SE tax bills that exceed their federal income tax bills.

Home and Family Taxes

Broke states offering amnesty for tax cheats Desperate to bring in revenue in the middle of a recession, states across the country are adopting tax amnesty programs, offering to let people pay their past-due bills.

Newsflash

AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday.
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