A government watchdog group warns that the IRS needs to do more to hold high-income US residents, many of whom get away with not filing and paying taxes, to account, writes Fox News. In the report of the Inspector General ...

As of May 2020, the national debt—all the money the U.S. has borrowed and has not yet paid back—stands at more than $25,1 trillion. At current growth rates, the amount could rise by almost 70% to more than $42 trillion in 4...

Next year, the tax filing process will change due to the coronavirus financial assistance law and the standard inflation adjustment, writes MoneyTalksNews. If you have yet to file your tax return for last year, you have more time than usual ...

In early 2020, many thought that the chaos and confusion of last year's tax season was long over. According to experts, in the new year it should have been easier to deal with taxes, since people have studied the new tax rules better, reminds USA Today. But then…

The idea of ​​putting off filing your taxes until the April 15 deadline may be tempting, but if you leave it until the last minute and make a mistake, the delay could be costly down the road, USA Today writes. Due to one of the most...

New tax rules take effect this year, and taxpayers are likely wondering what this means for them and their finances. However, people often confuse terms related to taxes such as tax rate and tax burden, writes GOBankingRates. Tax ...

The US authorities are accusing the Russian banker Oleg Tinkov, who was detained in London, of submitting false tax information. Now he faces up to six years in prison, according to the United States Department of Justice, RIA Novosti reports. The indictment against Tinkov consists of two points, according to ...

We won't pretend that taxes are fun. Taxes are a burden. But for most people, getting their tax affairs in order is not that difficult. Instructions on how to file your tax return are offered by The Penny Hoarder. What do you need…

Everyone knows that wages are taxed by the federal government, but Uncle Sam has a far-reaching definition of "taxable income," writes Money Talk. It covers numerous types of earnings. Many people do not even realize that they are subject to federal income tax. Below are ...

The tax bracket, or tax bracket, is one of the most difficult aspects of the tax system to understand. But not knowing your category and how it works can seriously hurt you as a taxpayer. USA Today offers to understand this issue. "Behind…