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John Boehner: The ‘Talk About Raising Revenue Is Over’

John Boehner: The ‘Talk About Raising Revenue Is Over’TOBY JORRIN/AFP/Getty Images(WASHINGTON) -- House Speaker John Boehner, R-Ohio, told ABC News’ Martha Raddatz during an exclusive interview for This Week that talk of including revenue as part of an effort to strike a so-called “grand barga...

Tax Tip: What Are the Penalties of Filing Late?

Tax Tip: What Are the Penalties of Filing Late?iStockphoto/Thinkstock(NEW YORK) -- During tax season, many rush to get their taxes filed in time for Tax Day.  But what happens if you file your taxes late and you owe money?Eric Smith of the Internal Revenue Service says there's a penalty for no...

H&R Block Filing Snafu Delays 600K Tax Returns

H&R Block Filing Snafu Delays 600K Tax ReturnsTim Boyle/Getty Images(NEW YORK) -- A filing error by America’s biggest tax preparation firm, H&R Block, could delay about 600,000 returns for up to six weeks.  Many of them are for students who need the tax receipt to apply for financia...

Tax Tip: What Has Changed Since the Fiscal Cliff?

Tax Tip: What Has Changed Since the Fiscal Cliff?Ingram Publishing/Thinkstock(NEW YORK) -- At the end of last year there was a huge debate over government spending and taxes. But when the smoke cleared, today's complex system was left largely unchanged."It did extend some tax breaks that expired at t...

Tax Tip: How to File Electronically for Free

Tax Tip: How to File Electronically for FreeiStockphoto/Thinkstock(NEW YORK) -- Put down that pencil and paper.  The Internal Revenue Service now makes it possible to do all of your calculations electronically -- and it's free."If your income is around $58,000 or less, you can use a variety...

Stephen Baldwin Avoids Prison Time, Agrees to Pay Back Taxes

Stephen Baldwin Avoids Prison Time, Agrees to Pay Back TaxesJason LaVeris/FilmMagic(NEW YORK) -- Actor Stephen Baldwin has agreed to plead guilty to a felony tax charge and pay New York state approximately $350,000 in unpaid taxes, his lawyer tells the New York Daily News.Attorney Russell Yankwit says Baldwin i...

Tax Tip: When Should You Itemize?

Tax Tip: When Should You Itemize?iStockphoto/Thinkstock(NEW YORK) -- Some pay more money in taxes than they should, as many people don't realize they can itemize their deductions."A common deduction that they don't think of are state and local taxes paid," says tax accountant Janice H...

Top 15 Most Frequently Asked Tax Questions

Top 15 Most Frequently Asked Tax QuestionsiStockphoto/Thinkstock(NEW YORK) -- TurboTax's tax experts have fielded thousands of questions from tax filers, and the questions tend to ebb and flow with changing economic times.This year's most popular question is related to confusion over who can b...

Non-Profit Urges Tax-filers to Save Tax Refund

Non-Profit Urges Tax-filers to Save Tax RefundiStockphoto/Thinkstock(NEW YORK) -- A non-profit group hopes to encourage tax filers to save a portion of their tax refund through a contest.Doorways to Dreams (D2D) Fund is a non-profit group based in Allston, Mass. and founded by a former Harvard Bus...

Report: Lindsay Lohan in Tax Trouble Again

Report: Lindsay Lohan in Tax Trouble AgainABC News(LOS ANGELES) -- After being on record as blowing off federal tax tabs for 2009 and 2010, TMZ reports Lindsay Lohan now has problems getting her financial house in order with the State of California. The gossip website, citing state records, re...

Tax Tip: Getting Started with Your Paperwork

Tax Tip: Getting Started with Your PaperworkDavid Sacks/Thinkstock(NEW YORK) -- The countdown to Tax Day is underway, and while most people don't look forward to filing their taxes, organizing all the necessary documents before getting started can make the process less stressful.Before you file ...

IRS Urges Tax Filers to Stop Constantly Checking Status of Refunds

IRS Urges Tax Filers to Stop Constantly Checking Status of RefundsiStockphoto/Thinkstock(WASHINGTON) -- As soon as they file their taxes, the first question on most taxpayers' minds is: When will I get my refund?To better answer this question, the Internal Revenue Service has a “Where's My Refund?” websit...

Obama Talks Football, Gender Issues, Taxes Before Super Bowl

Obama Talks Football, Gender Issues, Taxes Before Super BowlAlex Wong/Getty Images(WASHINGTON) -- As the nation geared up for the Super Bowl XLVII matchup between the San Francisco 49ers and Baltimore Ravens, President Obama said he stood by his recent comments that as a parent he’d hesitate allowing his ...

Clarinets? Safaris? Tax Season’s Weirdest Deductions

Clarinets? Safaris? Tax Season’s Weirdest DeductionsiStockphoto/Thinkstock(NEW YORK) -- The U.S. tax code runs more than 73,000 pages, and Bob Meighan, vice president of customer advocacy for TurboTax, says 10,000 of them have been added in just the past five years."It's growing," Meighan says.Being so ...

Tax Filing Season Begins

Tax Filing Season BeginsiStockphoto/Thinkstock(NEW YORK) -- After being delayed by eight days because of Congress' debate over the so-called "fiscal cliff," the 2012 tax filing season has officially kicked off.  Taxpayers can begin filing electronically on Wednesday.To m...

Beware of Identity Theft When Filing Your Taxes

Beware of Identity Theft When Filing Your TaxesiStockphoto/Thinkstock(NEW YORK) -- With the start of the tax filing season just around the corner, the IRS is on alert for rising cases of identity theft and tax fraud. Many taxpayers can become victims if they are not very careful about protecting th...

IRS Pushes Back Tax Filing Season Eight Days

IRS Pushes Back Tax Filing Season Eight DaysiStockphoto/Thinkstock(NEW YORK) -- The IRS has delayed the start of this year's tax filing season by eight days.The window for accepting 2012 tax returns will now open on Wednesday, meaning many early filers will get their refunds late."Early filers a...

Golfer Phil Mickelson Teed Off over Taxes

Golfer Phil Mickelson Teed Off over TaxesWILLIAM WEST/AFP/Getty Images(NEW YORK) -- Phil Mickelson, estimated by Forbes to be the highest-paid golfer after Tiger Woods, on Sunday said ominously that he would have to make "drastic changes" in light of the fact that the State of California had ...

United Airlines, American Airlines Accused of Running ‘Sham Offices’ to Dodge Taxes

United Airlines, American Airlines Accused of Running ‘Sham Offices’ to Dodge TaxesAndrew Harrer/Bloomberg via Getty Images(CHICAGO) -- Chicago's Regional Transportation Authority is accusing United Airlines and American Airlines of operating "sham offices" in a suburban Illinois town and "dodging" millions of dollars in state sales ...

Sen. Mitch McConnell: “The Tax Issue Is Finished”

Sen. Mitch McConnell: “The Tax Issue Is Finished”Tom Williams/CQ Roll Call(WASHINGTON) -- Senate Republican Leader Mitch McConnell, R-Ky., said Sunday he will not accept any new revenue in future deals with congressional Democrats and President Obama.“The tax issue is finished.  Over. Comp...
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