File by the deadline to avoid penalties, interest While April 15 is the federal deadline for most taxpayers, filers in Maine and Massachusetts have until April 17. There are also automatic extensions for some taxpayers impacted by natural disasters. But if you skip the tax filing deadline and owe a balance, you can expect IRS … Read more
Photo Of Robot Examining Invoice With Magnifying Glass. Andreypopov | Istock | Getty Images Even as the IRS makes headlines for cracking down on the wealthy, state tax collectors have become even more aggressive with audits of high earners, according to tax attorneys and accountants. In New York, the tax department reported 771,000 audits in … Read more
File your return by April 15 even if you can’t pay If you can’t cover your taxes in full, you should still file your return by April 15 and pay what you can, according to the IRS. Here’s why: “Your interest and penalties are compounding quicker” if you owe taxes and don’t file, said Eric … Read more
Maskot | Maskot | Getty Images The bulk of Americans buying qualifying new electric vehicles are opting to receive an associated tax credit upfront from the car dealer instead of waiting until tax season, according to new Treasury Department data. About 90% of consumers who qualify for a “new clean vehicle” tax credit — … Read more
D3sign | Moment | Getty Images With one week until the April 15 federal tax deadline, the IRS has released an “important update” for Direct File, the agency’s free tax filing program. Since March 12, the pilot program has been fully open for certain filers in 12 states, and Direct File now allows users to … Read more
Songsak Rohprasit | Moment | Getty Images The tax deadline is approaching and some filers are turning to chatbots powered by artificial intelligence for help with returns. But taxpayers should be wary of generative AI — which uses artificial intelligence to create content — for tax advice, experts say. Nearly 1 in 5 Americans would … Read more
As the April 15 federal tax deadline draws near, most taxpayers have less than two weeks to submit their 2023 individual tax return or file an extension — but for scammers, that’s still ample time to try to steal filers’ personal and financial information. Last year, the IRS received 294,138 complaints of reported identity theft, … Read more
Former U.S. President Donald Trump speaks from the hallway outside a courtroom where he attended a hearing in his criminal case on charges stemming from hush money paid to a porn star in New York City, U.S., March 25, 2024. Brendan Mcdermid | Reuters A court ruling that slashed Donald Trump’s civil fraud appeal bond … Read more
10’000 Hours | Digitalvision | Getty Images There’s still time to lower your 2023 tax bill or boost your refund with a lesser-known retirement savings strategy for married couples. One requirement for individual retirement account contributions is “earned income,” such as wages or salary from a job or self-employment earnings. But there’s an exception for … Read more
The Mega Millions jackpot grew to more than $1.6 billion on Aug. 9, 2023. Justin Sullivan | Getty Images State taxes can be hefty “None of these winners think about taxes until they have a third of it going right to Uncle Sam and the state government,” said Andrew Stoltmann, a Chicago-based lawyer who has … Read more
