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Fact of the day.
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taxes
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Finance
Tax records: Save them or shred them
If you re like most people, your home office is littered with 1099s, W-2s, thank-you letters from charities, and other detritus used to prepare a tax return. But it s not necessary to hang on to everything.
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Obama to offer tax hikes in budget showdown
Higher taxes have been missing from the fierce budget battle that nearly shut down the federal government. But President Obama is about to put them on the table — at least a modest version that he had pushed before and then rested on the shelf.
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Last-minute tax tips
With the April 18 tax-filing deadline less than a week away, filing for an extension may provide a way to avoid last-minute mistakes.
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Finance
IRS awards $4.5M to whistleblower
An accountant who tipped off the IRS that his employer was skimping on taxes has received $4.5 million in the first IRS whistleblower award.
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Finance
What to do if you can t pay your taxes
If your palms are sweaty, you ve got heart palpitations and you can t concentrate, it means one of two things: You re in love, or you owe money to the IRS.
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House votes to end unpopular new business tax rule
An unpopular tax filing requirement for businesses tucked into the new health care law would be repealed under a bill overwhelmingly passed by the House Thursday.
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Rules change how you figure taxes on stocks
New rules kicked in this year that require brokerages to track how much investors pay for stocks and report this info to the IRS.
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Tax itemizers can file returns now
Taxpayers who claim itemized deductions no longer have to wait to file their tax returns.
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Tax breaks could inspire you to do your taxes
Here are some money-saving tax breaks that could give you the nudge you need to get started on your 2010 taxes.
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Business-India
Inflation needs to be tackled with great urgency: PM
Admitting that inflation posed a serious threat to the growth momentum affecting the poor and vulnerable sections, Prime Minister Manmohan Singh today favoured waiving mandi, octroi and local taxes, which impede the smooth movement of essential commodities.
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Finance
Can you claim home buyer tax credit
If you bought a home last year, you may be eligible for a tax credit of up to $8,000 when you file your 2010 tax return.
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4 questions to ask before hiring a tax preparer
Even well-meaning tax preparers sometimes make mistakes, but asking key questions can help you find a good one.
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IRS tax liens jump by 60%, but how effective are they
IRS liens filed against taxpayers jumped 60% since the start of the national recession, according to a new federal report.
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Finance
H&R Block customers lose short-term tax refund loan option
Millions of H&R Block customers who relied on short-term loans backed by their anticipated tax refunds will not have that option this year since Block s banking partner was forced by federal regulators to stop offering the loans.
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Taxpayers who itemize have to wait until February to file
Taxpayers who itemize on their tax returns will have to wait until at least mid-February to file their tax returns, the IRS said Thursday.
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Avoid taxes: Put your riskiest investments in your Roth IRA
Roth IRAs have a second big advantage: You re not required to take distributions when you reach 70 1/2, as is the case with other retirement accounts.
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IRS chief urges Congress to act on tax breaks, AMT patch
Congress has yet to act on legislation that would extend certain tax breaks through 2010 and patch the alternative minimum tax system.
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Politics-World
US Prepares for New Wikileaks Release
The whistleblower site Wikileaks.org once again is preparing to release a large number of classified U.S. documents, believed to be State Department diplomatic files that could contain unflattering comments about America s international partners.
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Senate Braces For Looming Tax Cuts Battle
A showdown on the Bush tax cuts is looming after lawmakers return from a week long Thanksgiving break. Senate Majority Leader Harry Reid today said as soon as Congress reconvenes from the holiday, Democrats will start setting politically charged votes on extending the tax cuts.
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The Debt Commission's Free Ride for Boomers - BusinessWeek
The U.S. debt reduction commission's initial proposal gives those free-spending Baby Boomers a virtual pass on financial sacrifice, writes columnist Chris Farrell.
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