tax returns

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10 Risky Tax Moves You Should Skip

Save your receipts, be honest, and don't try to protest

(Newser) - Perhaps, in a moment of desperation, it seemed like a good idea to claim your mother-in-law as a dependent on your tax return ... but it's actually not. And neither are these nine other risky moves, as rounded up by Time :
  • Skipping receipts: Even if you think the IRS will never
...

Feds Crack Down on Prison Tax Scam

Law enforcement moves to end millions in refund ripoffs

(Newser) - Fraudulent tax returns filed by federal and state prisoners have soared over the past five years, but under pressure from the Senate, the FBI and Bureau of Prisons finally got their act together and signed a memo of understanding to crack down on the operations, reports AP . "This agreement...

Tax Deadline April 18 Thanks to ... Abraham Lincoln?

DC Emancipation Day pushes filing deadline 3 days

(Newser) - America's taxpayers have an extra three days to procrastinate this year, thanks to a holiday only celebrated in the nation's capital, AP reports. Abraham Lincoln freed the District of Columbia's slaves on April 16, 1862—eight months before the Emancipation Proclamation—and since this year's DC Emancipation Day falls on...

IRS Has Info on Abducted Kids—But Can't Divulge

Privacy laws prevent agency from giving up data from returns

(Newser) - IRS tax returns could probably help reunite hundreds of kids a year with their rightful parent, bur privacy laws forbid the agency from helping investigators. As the New York Times explains, even people who abduct kids in custody disputes sometimes take the odd step of declaring them on their returns....

Obamas Made $5.5M
 Obamas Made $5.5M 
TAX DAY AT THE WHITE HOUSE
Apr 15, 2010 1:21 PM CDT

Obamas Made $5.5M

Jill and Joe Biden earned $333,000 in 2009

(Newser) - Tax Day means we get to peek into the personal finances of the Obamas. The president and first lady reported income of $5.5 million in 2009, most of it from his books. They paid $1.8 million in federal taxes and $163,303 in state taxes to Illinois. The...

IRS Cracking Down on Tax Preparers

Preparers to be required to register, pass exam

(Newser) - The IRS has unveiled plans to regulate America's tax-preparation industry for the first time. Independent tax preparers and employees of tax-preparation firms will be required to register, pass a competency exam, and take 15 hours of classes a year. The move follows an IRS study that found many of the...

Obamas File $2.7M Tax Return
 Obamas File $2.7M Tax Return 
Apr 15, 2009 4:55 PM CDT

Obamas File $2.7M Tax Return

It's a big pay cut from the year prior

(Newser) - With the country finishing up its taxes, the Obamas divulged their household income today, revealing a combined income of $2.7 million last year—significantly less than 2007’s $4.2 million. Most of it came from the president’s books, which raked in a combined $2.5 million. The...

Daschle Faces Grilling on Charity Gifts, Apologizes on Taxes

Releases letter of apology to lawmakers for tax mistakes

(Newser) - Already beset with questions about his failure to pay taxes, Tom Daschle will likely also face questions today over whether he received improper gifts from charities, the Wall Street Journal reports. President Obama's nominee for health secretary is reported to have flown with an education charity to a Bahamas retreat...

Daschle Waited to Tell Obama About Tax Glitch

HHS nominee knew his taxes needed fixing; didn't know how much

(Newser) - Health secretary-designate Tom Daschle didn’t tell the Obama administration that he owed years of back taxes until a month after he’d been nominated, the Washington Post reports. He paid $140,000 in taxes January 2 and told government leaders about it two days later. He had known his...

Palin's Tax Returns Raise Questions

Experts query travel payments, other reimbursements

(Newser) - Sarah Palin's tax returns, released yesterday, show her to be the least wealthy of the presidential candidates, the Wall Street Journal reports, and the governor herself to be the family's main breadwinner. The Palins reported a combined income of $166,000 in 2007, up from $128,000 in 2006. Todd...

McCain Made $259K in &rsquo;07
McCain Made $259K in ’07
Apr 18, 2008 2:55 PM CDT

McCain Made $259K in ’07

Senator donated $105K to charity; heiress wife's tax returns not released

(Newser) - John McCain reported $259,000 in 2007 taxable income and $215,304 in 2006, the AP reports. The figures—modest in comparison to the Obama and Clinton tax returns—don’t include the income of his wife, Cindy, whose wealth has been estimated at $100 million. The presumptive Republican nominee...

Obama Earns $3.9M in Royalties
 Obama Earns $3.9M in Royalties 
Apr 16, 2008 10:08 PM CDT

Obama Earns $3.9M in Royalties

His book sales continue to soar

(Newser) - Barack and Michelle Obama earned $4.2 million last year, mostly from royalties from Obama's two books, Dreams From My Father and the Audacity of Hope. The Obamas' newly released returns for 2007 show they paid $1.4 million in federal taxes and gave $240,370 to charity, USA Today...

Top 10 Beers for a Tax(ing) Day
 Top 10 Beers for a Tax(ing) Day 
Apr 15, 2008 1:10 PM CDT

Top 10 Beers for a Tax(ing) Day

Best brews to drown post-tax woes

(Newser) - What better time to drown your woes in beer than tax day? Whether you're mourning the death of your bank account or dropping some of that refund, SF Weekly put its spin on Draft magazine's top booze for the occasion:
  1. Abita Turbodog tastes far better than TurboTax
  2. Nothing's more patriotic
...

TurboTax Tries to Avoid '07 Filing Nightmare
TurboTax Tries to Avoid '07 Filing Nightmare
Tax Day
Apr 15, 2008 9:19 AM CDT

TurboTax Tries to Avoid '07 Filing Nightmare

No error messages this time around, Intuit promises

(Newser) - It’s April 15 again, and perhaps nobody has their fingers crossed quite like Intuit software. A year ago 170,000 people rushed to file last-minute tax returns online through TurboTax… only to get an error message, delaying their filings for up to 13 hours. This year, Intuit’s done...

Cheney Makes Way More Than His Boss
Cheney Makes Way More
Than His Boss
Apr 12, 2008 12:37 PM CDT

Cheney Makes Way More Than His Boss

VP's family rakes in $3M, while Bushes earn less than $1M

(Newser) - Dick Cheney may report to George Bush, but he out-earned the president threefold last year, according to tax returns released yesterday. The first couple paid $221,635 in taxes on the $923,807 they made in 2007, ABC reports, while the Cheneys paid  $602,651 on their $3,042,767—...

Clintons Made $109M Since 2000
 Clintons Made $109M Since 2000 
Apr 4, 2008 5:55 PM CDT

Clintons Made $109M Since 2000

7 years of returns show Bill was bigger earner; couple paid $33M in taxes

(Newser) - Of the $109 million the Clintons pulled in the past seven years, Bill pulled in the lion’s share: That’s the news in tax files released today, Ben Smith reports on Politico. The long-awaited documents reveal that, with Bill bringing in $80 million from books and speeches, the couple...

Clinton, McCain Tax Returns Remain a Mystery

Experts wonder what's lurking in records

(Newser) - As Hillary Clinton and John McCain continue to sit on their tax returns—both candidates have promised to make them public next month—watchers wonder what’s hiding in their file cabinets. Clinton draws particular interest because she and Bill Clinton have seen their wealth balloon from $1.2 million...

Clinton: No Nomination, No Tax Returns

Obama campaign blasts Hillary as not 'fully vetted'

(Newser) - Hillary Clinton’s campaign said yesterday that it will not release the Democratic candidate’s tax returns unless she wins the party’s nod, the Swamp reports. Obama’s campaign attacked Clinton for the move. "Why should Democratic voters have to wait until after the primary campaign is over...

Wesley Snipes Escapes Fraud Charges, But...

Actor faces up to 3 years for failing to file tax returns

(Newser) - Wesley Snipes is off the hook for tax fraud—but a federal jury in Florida today convicted him on 3 counts of failing to file returns, the Los Angeles Times reports. For the misdemeanors, the actor faces up to 3 years in prison, but he escaped a possible 13 more....

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