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The House Bill Would Mean a Tax Hike for Millions of Seniors. Learn More

 

Your 2009 Taxes

Surprising Tax Breaks to Cut Your 2009 Bill
This year, there are a lot of new write-offs in addition to a host of existing deductions you may have overlooked before. Maybe you can still trim your taxes for 2009. More>>

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Can Software Make Tax Time Less Taxing?
Many of the 140 million Americans who file returns either hire an accountant or use a trained tax preparer at a walk-in service like H&R Block or Jackson Hewitt. But a growing number of taxpayers are turning to computer-based tax preparation products and services. More>>

U.S. Cracks Down on ‘Contractors’ as a Tax Dodge
Federal and state officials, many facing record budget deficits, are starting to aggressively pursue companies that try to pass off regular employees as independent contractors. More>>

Unemployment Benefits, Canceled Debt Trigger Tax Bills
You've lost your job, you're underwater on your mortgage, and you keep receiving annoying postcards from your globe-trotting neighbors, who are currently touring the Galapagos Islands. What else could go wrong. Here's what: You could find yourself facing an unexpected tax bill. More>>

Tax Credits Could Cause Headaches on 2009 Return
This year you absolutely must fill out your federal income tax return before deciding how you're going to spend your refund. Why. Because you could be coming up short or even owing the government money, thanks to some quirkiness in a "Making Work Pay" tax credit. More>>

You Can Get a Tax Break On Old GM Stock, If You Unload It
Now that the big automaker is on the mend after a quick bankruptcy, investors wonder whether maybe her old GM stock could end up being worth something after all. More>>

Home Buyers’ Tax Credit Extended to Existing Owners
When the tax credit for first-time home buyers was extended last November, those who already own homes were no longer left out in the cold. Suddenly, “repeat buyers” became eligible for a tax credit up to 10 percent of the purchase price of a new home, capped at $6,500. More>>

Ask Ms. Medicare: Tax Deductions for Medicare Expenses
Can I deduct the cost of my Medicare premiums as a medical expense on my 1040 federal income tax return? More>>

Turning Your Tax Refund Into an I Bond May Be a Smooth Move
When you file your 2009 tax return, you can arrange to use all or a portion of your refund to buy inflation-adjusted Savings Bonds, or I Bonds. More>>

IRS to Regulate Paid Tax Preparation
The Internal Revenue Service plans to test, register and screen people who get paid to prepare tax returns, stepping into a virtually unregulated business on which millions of Americans depend for crucial financial services. More>>

Ask the Experts: Paying Taxes on Social Security Benefits
Do I have to pay income tax on my Social Security benefits after age 72? More>>

Hold On to Tax Paperwork
How long should I keep old tax paperwork? More>>

Ask Sid: Who Owes the Clunkers Tax?
Do I need to pay taxes on the Cash for Clunkers incentive I received? More>>

 

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