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‘Buffett Rule’ Could Be ‘Reagan Rule,’ Obama Says

‘Buffett Rule’ Could Be ‘Reagan Rule,’ Obama Says

Andrew Harrer/Bloomberg via Getty Images(WASHINGTON) — President Obama invoked Ronald Reagan on Wednesday as he pitched his proposed “Buffett Rule” for the second day in a row, arguing that the Republican icon would have supported his plan…

10 Tips for Late Tax Filers

10 Tips for Late Tax Filers

iStockphoto/Thinkstock(NEW YORK) — With less than one week to go, the Internal Revenue Service’s April 17 tax deadline is quickly approaching.  But don’t fear — here are 10 last-minute tips to help you file accurately and get the maximum refund:…

Fatal Car Crashes Rise on Tax Day, Study Finds

Fatal Car Crashes Rise on Tax Day, Study Finds

Hemera/Thinkstock(TORONTO) — If you’re waiting until the last possible day to file your taxes, you might want to walk to the post office instead of driving there.  But even that won’t guarantee you’ll be safe.Research from a University of Toronto…

The Silliest and Most Outrageous Taxes in America

The Silliest and Most Outrageous Taxes in America

Comstock/Thinkstock(NEW YORK) — If you take the tax codes of the 50 states and apply a magnifying glass, you’ll find that here and there, hidden amongst the small print, are specimens that many would consider outrageous.Take for example, a tax on fur,…

IRS Taxes: Late Filers Can Avoid Costly Mistakes

IRS Taxes: Late Filers Can Avoid Costly Mistakes

iStockphoto/Thinkstock(WASHINGTON) — The April 17 tax deadline is rapidly approaching, and millions of people wait until the very last minute to file.But what happens if you can’t file your 2011 returns on time or pay your taxes?The IRS says don…

Obama’s Weekly Address: Making The Country ‘A Little Fairer’

Obama’s Weekly Address: Making The Country ‘A Little Fairer’

Jim Watson/AFP/Getty Images(NEW YORK) — President Obama is urging Congress to pass the “Buffett Rule,” saying lawmakers who oppose it will have to “go on record” and explain to the American people where they are getting the mon…

TaxMasters, CEO Patrick Cox Hit with Nearly $200M Judgment

TaxMasters, CEO Patrick Cox Hit with Nearly $200M Judgment

ABC(HOUSTON) — A Texas jury has found that the well-known and controversial tax advisory firm TaxMasters Inc., along with its bearded founder Patrick Cox, used deceptive practices in its bid to lure customers and has hit the company with a staggering …

Many Low-Income Americans Don’t Take Advantage of EITC

Many Low-Income Americans Don’t Take Advantage of EITC

iStockphoto/Thinkstock(NEW YORK) — While the Earned Income Tax Credit assists families with children who have lower incomes, helping reduce the poverty rate while also providing a work incentive, about one in five eligible filers may not be taking adv…

Online Tax Prep: Is It Cheap and Safe?

Online Tax Prep: Is It Cheap and Safe?

iStockphoto/Thinkstock(NEW YORK) — Online tax tools — many offering free advice — can make filing your return this year a breeze.  But beware: People who file online should heed two cautions.First, the price you’ll pay to file for online tax pr…

Obama Camp on Romney Tax Plan: Where’s the Beef?

Obama Camp on Romney Tax Plan: Where’s the Beef?

Emmanuel Dunand/AFP/Alex Wong/Getty Images(CHICAGO) — Mitt Romney on Monday outlined a plan that he said would restore “freedom” to the American economy, dramatically cutting taxes and spending to “deliver more jobs, less debt, and s…

TaxMasters Inc. Files for Bankruptcy

TaxMasters Inc. Files for Bankruptcy

ABC News(WASHINGTON) — The well-known and controversial tax advisory firm, TaxMasters Inc., filed for bankruptcy Monday morning, just as it was preparing to head to court to defend itself from charges of deceptive practices leveled by the Texas attorn…

Apple Announces Dividend, Buyback

Apple Announces Dividend, Buyback

Kevork Djansezian/Getty Images(CUPERTINO, Calif.) — In a major turn away from the years when Steve Jobs was in charge, Apple Inc. is finally loosening up its purse strings, announcing both a $10 billion stock buyback plan and a dividend for shareholde…

Fewer People Plan to Spend Their Tax Refunds on Vacations

Fewer People Plan to Spend Their Tax Refunds on Vacations

iStockphoto/Thinkstock(NEW YORK) — Using federal or state tax refunds to pay for a vacation seems like a good idea, but just 10 percent of Americans are planning to do so this year, a 20 percent drop from 2011.The finding comes from a survey of 1,005 …

Man Claims Politician as a Tax Deduction and Other Bizarre Tax Claims

Man Claims Politician as a Tax Deduction and Other Bizarre Tax Claims

“Just don’t deduct how many treats you give us!” Some pet owners claim Fido and Fluffy as dependants. iStockphoto/Thinkstock(BLOOMINGTON, Minn.) — Elected officials are on the public payroll, but claiming a politician as a tax deduction on your 1040…

Rick Santorum Paid Higher Tax Rate Than Mitt Romney In 2010

Rick Santorum Paid Higher Tax Rate Than Mitt Romney In 2010

Win McNamee/Getty Images(WASHINGTON) — Presidential candidate Rick Santorum, who frequently touts his humble roots as the grandson of a coal miner, earned an average of more than $900,000 each year between 2007 and 2010, according to the candidate&rsq…

Report: Lindsay Lohan Owes Uncle Sam $$$

Report: Lindsay Lohan Owes Uncle Sam $$$

Stephen Dunn/Getty Images(LOS ANGELES) — Just when you thought Lindsay Lohan was getting her act together comes a report that Uncle Sam is mad at her for not paying some taxes.  TMZ.com cites documents filed at the Los Angeles County Recorder&rsq…

GOP Opposing Surtax on Millionaires, Say Dem Alternative Targets Small Businesses

GOP Opposing Surtax on Millionaires, Say Dem Alternative Targets Small Businesses

TOBY JORRIN/AFP/Getty Images(WASHINGTON) — House Speaker John Boehner on Thursday urged Democrats to come to terms with Republicans on a year-long extension to the payroll tax cut, as negotiations between conferees struggle to yield any concrete progr…

House Republicans Aim to Cut Small Business Taxes by 20%

House Republicans Aim to Cut Small Business Taxes by 20%

Alex Wong/Getty Images(WASHINGTON) — House Majority Leader Eric Cantor sent a memo to House Republicans on Wednesday, discussing the priorities of the GOP’s legislative agenda for the next three months, headlined by an attempt to pass a 20 perce…

House Republicans Aim to Cut Small Business Taxes by 20%

House Republicans Aim to Cut Small Business Taxes by 20%

Alex Wong/Getty Images(WASHINGTON) — House Majority Leader Eric Cantor sent a memo to House Republicans on Wednesday, discussing the priorities of the GOP’s legislative agenda for the next three months, headlined by an attempt to pass a 20 perce…

Herman Cain Sends ’9-9-9′ Newt’s Way

Herman Cain Sends ’9-9-9′ Newt’s Way

Bill Pugliano/Getty Images(WASHINGTON) — The “9-9-9″ plan isn’t dead. In fact, it may just get a second life with Newt Gingrich.Herman Cain, the former pizza magnate and presidential candidate behind the catchphrase/tax plan, told ABC News…

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