Taxes

Would Trump Take Away Your Mortgage Interest Deduction?

By Rob Garver

In the complicated world of federal tax expenditures, there is perhaps no provision more loved by its beneficiaries and more hated by academic economists than the mortgage interest deduction. For...
Tax Scammers Never Sleep: IRS Names 4 Summer Scams to Avoid

By Beth Braverman

Tax season may be over, but that doesn’t mean that crooks are done impersonating the IRS to try to steal your identity — and your cash.
If Trump's Tax Plan Passes, Here Are the Deductions and Breaks You Could Lose

By John W. Schoen, CNBC

The question of whether you'll be paying more in taxes under President Donald Trump may hinge on how much you use tax deductions now. Trump has said he will unveil on Wednesday the outlines of his...
Trump’s Tax Plan Could Affect Your Social Security

By Rob Garver

The Trump administration, at work on a new plan for tax reform, is reportedly considering a plan to cross into one of the most dangerous territories in American politics: fiddling with the Social...
Need a Tax Extension? 5 Things You Should Know

By Beth Braverman

If you’re among those who are going to miss the tax deadline, you’ll need to file for an extension with the IRS. Here’s what you need to know.

Two Smart Ways to Use Your Tax Refund: Which One Is Right for You?

By Lynn Wolfbrandt, Brad's Deals

Ah, the tax refund. That thing I used to spend before I even got it. Maybe you’re familiar with this fun and healthy spending pattern: Related: Haven’t Filed Yet? Lower Your Taxes With This Last...
Haven’t Filed Yet? Lower Your Taxes With This Last Minute Move

By Beth Braverman

Taxes may be due in just a few weeks, but many taxpayers can still trim their 2016 tax bill and increase their long-term financial security at the same time. That’s because tax-deductible...
The Best Ways to Use Your Tax Refund – and the Worst

By Janna Herron

Here’s what you should do with your tax refund to get closer to financial security – and what you should avoid.
Spend or Save Your Tax Refund? Here’s What Most People Are Doing This Year

By Beth Braverman

The retail boom that often follows tax season may be smaller this year, as fewer Americans are planning to spend their returns. Of the two-thirds of Americans expecting a refund this season, only one...
Here’s Why You Owe the IRS So Much in Taxes This Year

By Janna Herron

The vast majority of filers — more than 70 percent — do get money back from the government, with the average refund close to $3,000, according to the IRS. But every year, some taxpayers get a nasty...

Will House Approve Senate Tax Hike on Super Rich?

By Josh Boak and Eric Pianin, The Fiscal Times

If the budget gods had their way, the 112th Congress would mercifully conclude its deliberations today on a major budget deal to blunt the worst of the fiscal cliff and then fade into history. We’re...
Senate May Have Cliff Deal on Taxes Only

By Eric Pianin and Josh Boak

A seemingly upbeat President Obama tried to keep the pressure on negotiators to finalize a fiscal cliff deal by midnight tonight as the rough contours of a bipartisan agreement began to emerge from...
Cliff Deal? Or the Triumph of Hope Over Experience

By Thomas Ferraro and Jeff Mason, Reuters

A deal to avert the fiscal crisis was said to be in the works in the Senate that would raise tax rates on household income above $450,000, said a source familiar with the talks. The agreement would...
Obama’s Desperate Measure—A Fiscal Cliff ‘Plan B’

By Josh Boak, The Fiscal Times

With the nation on the verge of stumbling off the fiscal cliff, President Obama sounded desperate Friday as he reeled off his expectation that lawmakers would at least hold a vote to avert the...
Middle Class Gets ‘Cliffed’ by Huge Tax If No Deal

By Josh Boak, The Fiscal Times

There’s a common misperception about the fiscal cliff—that the tax increases only apply to 2013. Not true. In a cruel epilogue to 2012, roughly 28 million families would owe the IRS $84 billion more...

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