A year ago, the first-time home buyer credit was still rather new, and the IRS began allowing taxpayers to amend their 2008 tax returns to receive the credit early. At that time, if documentation was in order, it took about six weeks to receive a check for the $8,000 credit. That didn’t last long. Within ... Continue reading this article…

If you haven’t noticed, it’s tax time. I have noticed, not only because of the relentless emails I receive reminding me of this grand celebration, but also due to people I interact with. As those I know complete their tax returns, I observe the joyfulness they exude as they realize they’ll be receiving a refund ... Continue reading this article…

In the past 14 months, we’ve covered many of the ways the American Recovery and Reinvestment Act might affect your household finances, including home buyer tax credits and energy efficiency tax credits. If you still haven’t yet found the time to file your taxes, or if you’re the sort of person who makes it a ... Continue reading this article…

This article is presented by Kelly Whalen, Consumerism Commentary staff writer who attended Toy Fair this week in New York City. Should you be one of the millions of Americans (nearly 75 percent) who receives a tax refund this year, you may be making all sorts of plans for your money. Some people will plan to ... Continue reading this article…

Last year, I began working with a tax accountant. We reviewed how I filed my income tax returns for 2007 and 2008 and determined that filing differently would have saved me about $15,000 overall. In November, I filed amended income tax returns (1040X) for 2007 and 2008. I received a refund for my 2007 return ... Continue reading this article…

In November of last year, President Obama and Congress expanded the home buyer tax credit to cover more people who have purchased houses in 2009 and 2010 and to further stimulate the real estate industry. Earlier this month, the IRS released an updated tax form to include the new rules. If you want to claim ... Continue reading this article…

It seems I have paid the government more than what was necessary over the past few years. When I first started earning money outside of my primary employer in 2004 or 2005, I assumed it would make the most sense to simply claim that income as self-employment income on Schedule C of the standard 1040 ... Continue reading this article…

President Nicolas Sarcozy of France revealed his plans for working to reduce his country’s carbon dioxide emissions. For each taxpayer’s metric ton of carbon dioxide emission due to use of oil, gas, or coal, the government will charge that taxpayer a fee of €17 (roughly $25). This rate would rise over time. Other energy use, ... Continue reading this article…

Between March 1917 and January 1984, there have been thirteen major changes in the rules for the estate tax, a tax paid by heirs for wealth inherited. Of these thirteen changes, eight were tax increases and five were tax decreases. In 2001, A study by the University of British Columbia and the University of Michigan ... Continue reading this article…