Your letter from the Internal Revenue Service says a bogus tax return was already filed in your name. Or your electronically filed return bounces back because fake returns are already on file with your Social Security number (SSN). Surprise: You may be the victim of identity theft. What can you do?
While the Internal Revenue Service may not be your favorite federal agency, criminals posing as IRS representatives are unquestionably the much bigger problem. Here’s what to know to protect yourself.
Your health savings account (HSA) can be your one of your best friends when medical expenses hit, allowing you to tap a fund of pre-tax money to meet ever-spiraling health-care costs. Here are the latest numbers concerning these accounts and some potential new uses for the money.
Well, here’s a shocker. A new poll shows that a majority of Americans want a higher minimum wage. According to the Associated Press-GfK Poll, they also want paid sick leave and parental leave, free community college and more gender equality laws.
With 2014 well over and the spring of 2015 looming, you may find yourself gathering all of last year’s tax information and getting ready to file your income taxes. Maybe you expect a refund or maybe you dread writing a check to Uncle Sam. If the latter, here are some tips to reduce your tax burden for 2015.
Costs of education and retirement are likely two of your biggest financial concerns. Just in time for tax season, here are answers to a couple of common questions on each important topic.
Every possible tax deduction can help when your money is tight. Yet many available legal deductions go unclaimed each year simply because most taxpayers still don’t know the breaks exist. From eyeglasses to airline baggage fees, you might qualify for at least one often-forgotten deduction – and maybe more than one.
In today’s economy, the theory of cognitive dissonance gets put into practice regularly. That’s where you must hold two opposing beliefs in your mind. Obviously, the result is bad. When applied to our economy, it’s really bad.
Last year I reached a milestone age: 59½, old enough to withdraw money from my individual retirement accounts with no penalty. While this felt bittersweet, it did remind me of the importance of timing when it comes to taking money out of retirement accounts. Withdrawing at the wrong time can create serious tax consequences.
Do you invest in mutual fund that lost money, yet still get a 1099 tax form that says you made capital gains? And your tax preparer claims you owe taxes on those gains? What gives?