The slogan "it's refund season" is not lost on millions of Americans this time of year. The anticipation of a refund from the federal government causes scores of people to file their income tax returns. After all, a tax refund check is arguably the largest disbursement they will see all year besides their regular paycheck.
It's clear that financial fraud is one of the biggest threats facing individuals, businesses and government agencies. Although hacking and other online scams are more pervasive than in the past, scammers are still using phones and U.S. Mail to commit their crimes as well.
Earlier this week, we began a discussion about federal taxes that affect businesses and business owners. If you are an entrepreneur who is just starting out, you may not yet be familiar with the various tax requirements associated with your specific business structure.
If you started your business within the last year, you may feel a little lost heading into tax season. The ways in which businesses are taxed at the state and federal level can be confusing, in part, because various kinds of businesses are all taxed differently.
The internet has had a profound effect on the average person's ability to pursue hobbies, to buy hard-to-find products and to sell their own products. Websites like Etsy have even turned arts and crafts hobbies into successful money-making operations for some people.
Owning a small business is no easy endeavor. In addition to the long hours and worries about making ends meet, business owners often find themselves attending to complex matters that are far outside of their comfort zone.
Are you feeling lucky? The Powerball jackpot keeps growing and has reached a massive $1.4 billion. But before you starting making plans to spend and give that much money away, remember that the tax bill would take a chunk of your winnings.
With Christmas, New Year's and other major holidays upon us, taxes are probably the last thing on your mind right now - and rightly so. But if you do find yourself with some down time, it may be a good idea to start mentally preparing for the start of 2016. This is especially true if you own a business and need to file a more complicated tax return.
The tax troubles of celebrities are often fodder for gossip columns. Are these stories relevant to most Americans? Often, the answer is no. But in a few cases, there are lessons to be learned from how certain celebrities settled debts with the Internal Revenue Service.
Many people get nervous when they hear the term “IRS audit," but very few Americans are actually audited. In fact, less than 1 percent of people who file individual tax returns are audited, and the IRS chooses people carefully, focusing on higher earners.