Like many federal refunds, some state refunds will be delayed this year. Here's a look at what various states are doing.read more
Federal agents have made strides in prosecuting rings of scammers over the last two years. These crooks pose as IRS agents in an effort to scare taxpayers into making an immediate payment over the phone to satisfy a bogus tax debt.
Unfortunately, bad guys are still in business, despite successful arrests and prosecutions. And the IRS is alerting taxpayers that if they get a phone call from these crooks, their best defense is to just hang up.read more
We all look forward to getting a nice fat refund from the IRS come tax time, but sometimes, what we get can be less than what we expected. What was supposed to be a new car down-payment gets whittled down to dinner for one. How can that happen?
Most times this scenario plays out when the taxpayer has some sort of debt that’s owed. The tax refund is fair game for repaying some – but not all – kinds of past-due debt.read more
How many times have you looked at the American income tax process and thought, “Well, heck, I could come up with something better than that!”
Now’s your chance.
The IRS has kicked off what it calls the “Tax Design Challenge,” to come up with “the taxpayer experience of the future.” And to get your little grey cells into overdrive, the Mortgage Bankers Association (MBA) is offering a $10,000 cash prize for the winner. Second place is worth $5,000.read more