How long do you need to keep tax documents: IRS recommendations

You don't need to keep your tax returns forever, but it's wise to keep them handy for several years. Business Insider writes about it. In general, the IRS recommends keeping copies of returns for at least three years, they ...

6 ways to get free tax filing assistance

This year's Tax Day is April 15, reminds MoneyTalksNews. Many Americans pay money to help them prepare and file tax returns. But millions of people deal with their taxes on their own, without resorting to the help of specialists. The publication offers a middle ground ...

Gambling losses, repairs, insurance: what can be deducted from taxes for 2019

You already know that you do not need to pay federal income tax on all of your income. What exactly should you deduct from your taxes to reduce total taxable income? Go Banking Rates explains. You have a chance to get to know the most ...

US cities with the highest and lowest taxes for retirees

When choosing the ideal place to spend your golden years, you consider many factors: cost of living, weather, proximity to people you care about. With this choice, taxes also play an important role in the priority list. GOBankingRates decided to help you ...

Key IRS issues taxpayers will face in 2020

Customer service problems are the biggest hurdle Americans will face in this tax season, writes USA Today. “The IRS is one of the worst performing federal agencies,” said Bridget Roberts, acting taxpayer advocate ...

San Francisco lacks money for basic expenses despite high taxes

San Francisco residents pay some of the highest taxes in the state. But more than a dozen neighborhoods still charge property owners with mandatory funding fees for services the city cannot provide. For what exactly local business owners pay extra, tells Fox News. “Since January this ...

Taxes and Tax Filling: Finance Specialist Answers ForumDaily Readers Questions

The US tax system is quite convoluted, and it is sometimes difficult for both Americans and immigrants to understand its intricacies. At the same time, errors in filing a declaration can result in additional costs and problems with one of the most formidable American departments - the Internal Revenue Service ...

IRS reports good news for US taxpayers

The Internal Revenue Service (IRS) will allow more people to file tax returns for free in 2020, writes USA Today. On Monday, the IRS made an addition to its Free File program, which is an agreement with a dozen tax preparation firms, including H & ...

Key changes: what you need to know about taxes in 2020

It's never too early to start saving money for retirement and cutting your tax bill. The IRS has adjusted inflation for a range of rates, from the amount you can contribute to a 401 (k) pension plan to individual income tax rates, CNBC writes. Pay ...

Father and daughter from Florida lied about lottery winnings and received millions of dollars from the IRS

Lying about your income is a tax fraud, Forbes reminds. It would seem that in order to avoid paying taxes, people should underestimate their income. But, surprisingly, many taxpayers, on the contrary, overcharge in order to receive large fraudulent tax refunds. What Happens When Taxpayers Lie To ...

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