Tag Archives: refund

A taxpayer’s nightmare: the IRS audit

It’s a taxpayer’s worst nightmare: the letter in the mail from the Internal Revenue Service. “It creates a lot of anxiety,” said Bob Meighan, a vice president at TurboTax, the tax preparation software. Read More

Layaway programs have benefits, but pitfalls too

Should savvy shoppers cheer the widespread return of layaway programs for the holidays? Retailers are running advertising blitzes touting their layaway programs as the holiday shopping season kicks-off. Read More

Believing tax myths can be a costly mistake

Filing your taxes can be confusing. Even though it’s an annual ritual, there’s so much bad information out there that you can easily be led astray. Add a few myths to your adjusted gross income, and you can find yourself facing an unexpected bill — or worse, shortchange your own refund. Read More

Nearly half of US households escape fed income tax

Tax Day is a dreaded deadline for millions, but for nearly half of U.S. households it’s simply somebody else’s problem.

About 47 percent will pay no federal income taxes at all for 2009. Either their incomes were too low, or they qualified for enough credits, deductions and exemptions to eliminate their liability. That’s according to projections by the Tax Policy Center, a Washington research organization. . . . read more Read More