With healthcare bill dead, U.S. Republicans turn to taxes

WASHINGTON, March 24 (Reuters) – After failing to repeal Obamacare, Republicans in the U.S. Congress quickly pivoted on Friday to President Donald Trump’s next priority: overhauling the federal tax code, but their plan has already split the business community. Division among Republicans was the chief cause of the embarrassing setback on Obamacare, and similar fault…

IRS reveals the top tax scams of 2017

The Dirty Dozen — a 1967 war movie starring Lee Marvin, Charles Bronson, and Jim Brown, or a list of the top twelve tax scams as identified by the Internal Revenue Service? Would you believe that it’s both? Each year, the IRS releases a list of the “Dirty Dozen” tax scams to watch out for…

Avoid these 5 common tax-filing errors

Last year the Internal Revenue Service issued most tax refunds in about three weeks, but many refunds get held up by simple errors. Even though more people are using tax software to file their state and federal income taxes, mistakes still happen, prolonging the pain of a not-very-fun duty. Financial advisors and tax experts say…

Trump reacts to speculation he leaked his own tax return: ‘Certainly not from the White House’

William Steakin, AOL.com Mar 15th 2017 10:17PM President Donald Trump called the recent leak of two pages of his 2005 tax returns a “disgrace” during an interview on FOX News Wednesday night. The president also rejected recent speculation Trump himself or someone in the administration leaked the documents on purpose. “Well, certainly not from the…

What does President Trump mean for health care?

Mark Wilson/Getty Images If you’re confused about the steps the Trump administration has taken to change the nation’s health care system, you’re not alone. A prominent Republican senator shares your bafflement. President Trump, in one of his first actions after he took office, signed an executive order that directed agencies to waive and delay Affordable…

The most common tax bracket in America

For many Americans, there may not be a more unpleasant five-letter word than “taxes,” and given that it’s January, it’s time for roughly 150 million adults to start thinking about preparing their taxes for the 2016 calendar year. Tax time is generally no fun. According to a recent estimate from the tax authority itself, the…

5 ridiculously simple ways to lower your taxes

5 ridiculously simple ways to lower your taxes   If there’s one thing most Americans can agree on, it’s that taxes are a major drag. In fact, 13% of Americans say they’d rather spent a night in jail than pay taxes, while 8% would rather break an arm. Thankfully, you don’t have to go to…

Protecting taxpayer confidentiality

Lawyers are held to higher standards than CPAs. Above, actor Bob Odenkirk, who stars as Saul Goodman in Better Call Saul, promised confidentiality to his client Walter White in Breaking Bad. Amanda Edwards/Getty Images Fans of television’s favorite ethically challenged criminal lawyer Saul Goodman know that despite his many questionable actions, he definitely respects attorney-client…

Wyoming has best tax climate; N.J. the worst

Taxes are not an obstacle in Wyoming, though bison can be for those at Yellowstone National Park. ©Rob Crandall/Shutterstock.com Horace Greeley’s advice to “Go West, young man” is still worth taking if you’re looking to start a business. A recent survey of state business tax climates found that 7 of the top 10 locations for…

IRS selects 4 private tax collectors

Former IRS Commissioner Douglas Shulman, above, pulled the plug on previous efforts by private collection agencies to collect unpaid taxes, saying the task was best left to the IRS. Win McNamee/Getty Images If you have an unpaid federal tax bill, Uncle Sam is coming for his money. But instead of Internal Revenue Service agents, he’s…