Every one of us has had that moment when we’ve had to shuffle the cards a bit to make sure all of the bills get paid. That’s exactly the situation our country is finding itself in right now. And what’s in the stack of “to pay later”? It could be your tax refund. How could…
What could you do with six billion hours? Think hard. That’s the equivalent of 8,758 lifetimes. Yes, lifetimes. It’s also how much time taxpayers spend every year trying to comply with tax-filing requirements. That, according to the 2012 annual report as prepared by the National Taxpayer Advocate Nina E. Olson. The report was delivered this…
Good things come to those who wait, right? It turns out that tax season won’t begin on January 22, 2013, after all – not that we expected as much. The Internal Revenue Service has announced that it has revised its opening date for tax season, pushing it out just eight days to January 30, 2013….
So as the dust settles in the Congressional tax bill, you knew it would only be a matter of time before the hyperbole started. And there it was. Just a day after the tax deal was passed, the headlines were all over the place: TAXES ARE GOING UP! Taxes will rise for most Americans! Higher…
Lots going on in D.C. today so let me catch you up to speed. The Democratic Senate reached a compromise on the budget deal in the wee hours of the morning. The deal extended tax cuts for all except those at the very top – but didn’t touch spending. That, the Senate claims, they’ll tackle…
If you’ve been worried about what will happen to those poor folks in Congress once the tax increases hit, worry no more: they’re getting a raise! Yes, despite the fact that the current Congress is one of the most ineffectual in recent memory, President Obama signed an executive order boosting their pay after March 27….
They came, they saw, they concurred. Yes, I meant concurred. And here’s what they agreed on: they should do something about the budget. Sadly, I’m not kidding. At the meeting at the White House today, Senate Majority Leader Harry Reid (D-NV) and Senate Minority Leader Mitch McConnell (R-KY) managed to hammer out an understanding that…
It may make good drama to play with the tax laws all the way up to the year-end but uncertainty as Congress fiddles means that millions of taxpayers don’t know how to plan for next year. Even worse? Their employers don’t know what to do either. Payroll withholding for 2013 is already a mess and…
Christmas came early this year for the Senate. No, there’s no budget deal – nothing so trivial as that. We’re talking super serious stuff. Like holiday parties. Yes, in between speeches about how they can’t get anything done this year, the Senate Secret Santa Exchange went on as planned. Sixty-two Senators managed to agree to…
Let’s say you’re in the mood for a coffee. You pop into the cafe, order your drink, and are informed by the barista that the cost of the coffee is $1.99 in the regular white cardboard cup – or $1.59 if you opt for a blue cardboard cup. In most cases, unless you really have…