Tax News

The Latest

  • February 8, 2013

    Withholding tax (also known as “payroll withholding”) is essentially income tax that is withheld from your wages and sent directly to the IRS by your employer. The employer then sends the withheld amount to the appropriate taxing authority....

  • February 8, 2013

    If your household income last year was $57,500 or less, you could be leaving money on the table this tax season.

    Uncle Sam offers a tax credit that can be worth up to half of what you contribute to a traditional individual retirement...

  • February 7, 2013

    NEW YORK (MainStreet) — Filing and paying taxes can be the financial equivalent of root canal.

    ...

  • February 7, 2013

    So glad you asked! Published tax rates are confusing, and cause many people to think they are paying more in taxes than they really are.

    Your “marginal tax rate” is generally the same as your...

  • February 6, 2013

    A big tax break that benefits U.S. private equity and venture capital executives is under threat again, and this time the chances of preserving it may have dimmed.

    President Barack Obama said at a news conference on Tuesday that he will...

  • February 5, 2013

    The Obama administration may soon ask Congress for the power to require more disclosure by U.S. banks of information about foreign clients' accounts to those clients' home governments, as part of a crackdown on tax evasion, sources said on Monday...

  • February 5, 2013

    Millionaire golfer Phil Mickelson's recent musings on leaving California to avoid its high taxes seemed to support the idea, popular in some state capitals nowadays, that Americans will flee high-tax states for low-tax ones.

    The threat of...

  • February 4, 2013

    It's always good to get things for free - and filing your taxes is no exception. Getting professional help to file your taxes doesn't mean you have to pay for it. MoneyTalksNews.com's Stacy Johnson discusses the many ways you can file...

  • February 4, 2013

    When it comes to your income taxes, U.S. tax law makes a distinction between different types of...