Taxes
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Special 2022 State Payments Not Subject to Federal Tax, IRS Says
In good news for U.S. tax filers, the IRS has ruled that special state payments made in 2022 won’t be subject to federal income tax in most states and situations. Taxpayers in more than 20 states received some form of…
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IRS Tells Taxpayers to Postpone Filing 2022 Returns
As the U.S. heads into the thick of tax-filing season, the IRS is telling millions of taxpayers who live in states that issued state refund and rebate payments to hold off on filing their returns. Taxpayers should wait to file…
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These 13 States Still Tax Groceries
Food is expensive enough as it is, thanks to rampant inflation. However, for residents of several states, rising prices aren’t the only worry, because they’re still stuck paying some sort of state sales taxes on their groceries. These often-controversial taxes…
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Everyday Essentials You Can Buy With an FSA
If your employer offers a flexible spending account, you can save money by setting aside pretax dollars for health-related expenses such as copays, deductibles, and dental care. You elect how much to contribute ($100 to $2,850 for the 2022 tax…
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The IRS Is Giving You a Break Next Year
Dread the thought of coughing up more money when next year’s tax bill comes due? Good news: The Internal Revenue Service is making its largest adjustment to the standard deduction since 1985, when the IRS began annual inflationary adjustments. The…
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The 10 Best and Worst States for Military Retirees
Whether they’ve been out of the service for decades or are newly retired from the military, America’s veterans need places to live where they have abundant access to quality health care, opportunities to find work, and low risk of becoming…
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Cities With the Highest Tax Rates (and the Lowest)
From property and auto taxes to sales and local income tax, sometimes it feels like the money we earn isn’t as much as we expected. (And of course, all this…
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19 Big Companies That Paid Close to Nothing in Taxes — or Got Refunds
Did you feel the pinch when you had to cough up money for the tax man this year? Plenty of hugely successful companies didn’t — or even got refunds —…
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Identity Theft Horror Stories
Identity theft has become common in the United States. The Federal Trade Commission got 1.4 million reports of it last year as the pandemic worsened the trend. Incidents in 2019…
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Surprising Facts About the Marijuana Industry
Marijuana, or cannabis, is now legal for recreational use in 18 states and the District of Columbia, and for medical use only in another 18 — and President Biden has pardoned…
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TurboTax Gets Sued for ‘Free’ Tax Filing Promises
It turns out those TurboTax ads promising “free free free free free” tax filing aren’t just annoying — they may also be intentionally misleading, according to the Federal Trade Commission.…
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22 Smart Tax Moves to Make Before the End of the Year
As 2021 draws to a close, it’s time to start thinking about tax moves that will help decrease your overall tax burden come April, especially since most tax deductions and credits…
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34 Reputable Charities to Help This Holiday Season
As the year draws to a close and the holiday season approaches, many people take the time to support charities that are meaningful to them. There are plenty of notable…
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27 Big Celebrities Who’ve Had Tax Trouble
Even fame can’t shield stars from tax trouble. These 27 celebrities were hit with massive IRS tax bills and serious financial fallout.
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Most and Least Tax-Friendly States for Retirees
Tax season takes a bigger bite out of retirement in some states than in others. Several states don’t have their own income tax, but retirees also need to consider sales…
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Tax Law Changes You Need to Know Before Filing a Return in 2021
With 2020 finally over, that means the tax season to account for it is underway. Just like 2020 itself, this tax season promises to be full of unique considerations –…
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The Best and Worst States for Middle-Class Taxpayers
Few people like paying taxes, but some have more reason to gripe about their tax burden than others. A study from the nonprofit, nonpartisan Institute on Taxation and Economic Policy…
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Where Your Federal Income Tax Money Really Goes
The federal budget for the 2020 fiscal year (that us, Oct. 1, 2019, to Sept. 30, 2020) is about $4.6 trillion, according to the Congressional Budget Office — which requires…
