October 27, 2009
- Tax Credit Fraud Eyed by the IRS
Tax Credit Fraud Eyed by the IRS
The U.S. Internal Revenue Service is probing more than 100,000 doubtful claims of a tax credit meant for first-time home buyers.
The $8,000 tax credit for first-time home buyers under the American Recovery and Reinvestment Act was passed in February to help nudge the U.S. economy back to life.
Lawmakers have [...]
October 7, 2009
- Homestead Exemption Explained
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Homestead Exemption Explained
We had a reader write to us and ask, "My spouse recently passed away, will I have to sell my home to meet creditor obligations?"
There are laws that can protect, to a certain extent, the value of a home from property taxes and creditors following a homeowner's death. [...]
July 31, 2009
- First Time Home Buyer Tax Credit
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First Time Home Buyer Tax Credit
The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.
Here is the $8,000 Home Buyer Tax Credit at a [...]
July 21, 2009
- Estate Taxes: Who Must Pay?
Estate Taxes: Who Must Pay?
As attention turns from Michael Jackson's death to the complex estate he left behind, experts are sorting through his holdings and putting price tags on their value _ with an eye on the tax bill they will generate. (Video runs 1:05)
April 24, 2009
- Tax Audit Odds
Tax Audit Odds
Now that tax season is over (for most people), does that mean you can rest easy until next year? What are your chances of being audited? Stacy Johnson explains… (Video runs 1:36)…Questions or comments? We'd love to hear from you. Remember, your email address will never be published on our site.
March 21, 2009
- 7 Most Common Tax Mistakes
7 Most Common Tax Mistakes
Mistakes while doing your taxes can end up costing you big time. Avoid the most common tax mistakes as covered in this video. (Running time 1:24)If you have questions or comments, please post them below the Social Bookmark links below (under Tell Others About This Article).
March 7, 2009
- Second Chance for a Stimulus Credit
Second Chance for a Stimulus Credit
It's not often the government gives you a second chance at some extra cash if you miss out the first time.
But that's the case with the Recovery Rebate Credit, part of the economic stimulus package that was passed by Congress in 2008.
Taxpayers got a maximum $600 each — $1,200 if [...]
March 5, 2009
- Who Has to File Taxes?
Who Has to File Taxes?
This time of year, taxes are on just about everyone's mind. However, not everyone has to file a tax return. Money Editor Stacy Johnson covers some of those reasons why you might not be required to file an income tax return. (Video runs 1:24)…
February 13, 2009
- Stimulus Checks Tripping Up Taxpayers
Stimulus Checks Tripping Up Taxpayers
The Internal Revenue Service warns that many taxpayers are mistakenly trying to double-dip on last year’s federal tax rebate when they file their tax returns this year — and the IRS is catching the errors.
A sampling of returns shows 15% of early filers made mistakes in the section dealing with the [...]
February 8, 2009
- Tax Withholding: Should You Change Yours?
Tax Withholding: Should You Change Yours?
Many tax and financial experts are encouraging taxpayers to review their 2009 withholdings now, as it may be that, due to economic conditions, taxpayer's income may be reduced due to layoffs or cutbacks on the job.
Essentially, this means, you could be having more tax taken out of your pay [...]
November 7, 2008
- Lower Your Property Taxes
Lower Your Property Taxes
As many as 60 percent of us pay TOO MUCH on our property taxes. So how do you get your taxes lowered? Money Editor Stacy Johnson has some suggestions in this short (1:38) video….
September 13, 2008
- Taxes: One Myth Dispelled
Taxes: One Myth Dispelled
There used to be a policy stating that anyone aged 55 and over could exclude up to $125,000 of his/her gains from the sale of a house. This was availed of under the premise that this is done only once.
The newer rules now are actually more specific. In one amendment, the [...]
August 10, 2008
- Housing Bill Offers Breaks for Taxpayers
Housing Bill Offers Breaks for Taxpayers
The federal housing and foreclosure relief legislation just signed into law by President Bush contains a little-noticed—but potentially far-reaching—change in real-estate tax policy.
It permits millions of homeowners who don't itemize on their federal tax filings to claim a deduction for at least part of their local and state property taxes. [...]
May 25, 2008
- Taxes: Your Odds for an Audit
Taxes: Your Odds for an Audit
If you've already filed your taxes this year, and are now relaxing for another year, don't get too comfortable just yet. Seems the IRS is now auditing more taxes than ever, and the number is only expected to get larger in the future.
Being rich has some fairly obvious advantages. But [...]
April 12, 2008
- Tax Changes in 2008
Tax Changes in 2008
New changes to the tax law will lower your taxes in 2007, but raise them in 2008. Learn about those changes in this short video (runs 1:21)
If you have questions or comments, contact us using the "comment" link below. Your privacy is protected. We NEVER publish anyone's email address on this site. [...]
April 8, 2008
- Taxes: Adjusting Your Withholding
Taxes: Adjusting Your Withholding
Tax refunds don't always mean good news… Sometimes, no news is good news. Stacy Johnson explains…
(video runs 1:20)
March 27, 2008
- New Tax Breaks Will Aid Some Homeowners
New Tax Breaks Will Aid Some Homeowners
Before filing your federal income-tax return, check to see if you're eligible for a few new breaks.
Among them is a deduction for private mortgage insurance premiums. Claim it on Schedule A, line 13. The insurance must be "in connection with home-acquisition debt," the IRS says. Premiums paid on a [...]
March 24, 2008
- Taxes: Changing Mistakes
Taxes: Changing Mistakes
Taxes can be complicated, which means it's easy to make mistakes…mistakes that could have gotten you a bigger refund…or could get you in hot water with the IRS.
But just because a mistake is made doesn't mean it can't get corrected. Here's money reporter Stacy Johnson with some quick advice on fixing problems now [...]
March 22, 2008
- Taxes: Paying With Plastic
Taxes: Paying With Plastic
Are you filing your taxes electronically this year? If so, and you happen to owe the IRS money… chances are you'll be among the those who'll pay with their credit cards.
Money reporter Stacy Johnson has some advice on a less taxing option. (Runs 1:37)
Are you going to owe taxes this year? Getting [...]
March 18, 2008
- Taxes: Do You Have to File?
Taxes: Do You Have to File?
Don't you hate filing taxes? Well, millions of people don't even have to file a return. But if you think that sounds lucky, you might want to think again.
Our Money Talks editor Stacy Johnson explains in this video (runs 1:25)
If you have a comment or question..leave it for us by clicking [...]
