Counting bills next to tax form

Identity Theft, Tax Fraud Increase as IRS Attempts to Curb Crimes

By Katherine Pilnick | February 15, 2013

As if tax season isn’t difficult enough, taxpayers must now be on alert for suspicious activity that could indicate that they are victims of tax-related identity theft. During last year’s…

Find out the different types of taxes and how they affect you

Types of Taxes

By Bill Fay | February 7, 2013

U.S. Supreme Court Justice Oliver Wendell Holmes once said, “Taxes are the price we pay for a civilized society.” One can argue about the extent and quality of the civilization…

Rich and poor cheat on taxes

Something in Common: Wage Earners, Millionaires Cheat on Taxes

By Bill Fay | February 4, 2013

While Tax Day — April 15 — is still some months away, now is the time when people begin thinking about how and when they are going to file and…

Payroll tax hike affects everyone

Payroll Tax Hike Could Throw Economy into Reverse

By Bill Fay | January 14, 2013

The government is taking a bigger bite of American workers’ paychecks this year, which could mean another slowdown of the U.S. economy. American workers are paying 2 percentage points more…

Tax refunds delayed

Delay in Tax Filing Season Means Later Refunds for Many

By Bill Fay | January 9, 2013

Millions of taxpayers banking on refunds from the IRS will have to wait a little longer to get them this year. The last-minute passage of the American Taxpayer Relief Act…

Alternative Minimum Tax

Taxpayers Beware: Alternative Minimum Tax Could Mean Huge Hit

By Bill Fay | December 17, 2012

If you’re a taxpayer worried about Congress not extending the Bush tax cuts by Jan. 1, brace yourself: An even bigger hit – the Alternative Minimum Tax – might be…

marijuana image

Colorado, Washington Go Pro-Marijuana, Set Up Pot Fight with Feds

By Bill Fay | November 7, 2012

The war on drugs suffered a frontline defeat on Tuesday as two states, Colorado and Washington, became the first ones to legalize marijuana use. In as a stunning rejection of…

Calculating tax increase

Americans Brace for Tax Hike if Bush Tax Cuts Expire

By Bill Fay | August 24, 2012

Uncertain economic times may become even more challenging in a matter of months, as millions of Americans could face 2013 riddled with significant tax increases. If changes are not made…

tax form calculator image

IRS Relaxes Rules for Tax Debt Settlement

By Bill Fay | August 17, 2012

In response to overwhelming household debt and tax liabilities, the Internal Revenue Service (IRS) recently announced it intends to aid struggling Americans by possibly reducing their tax debt. In May…

cash image

Payroll Tax Cut Set to Expire at the End of 2012

By Bill Fay | August 8, 2012

Millions of Americans may be taking home a few less dollars next year, as a major tax cut may soon disappear. The payroll tax break, first enacted in 2010 by…