TaxCure Blog

If you don’t owe taxes, you aren’t required to file a tax return. However, just because you don’t have to file a tax return doesn’t mean that you shouldn’t file one. In fact, you might be missing out on money that the government owes you if you don’t file a tax return.

So far this tax season, refunds are on the rise. According to IRS data, the average refund is more than $3,000. That’s not a bad amount of change, and it’s money that many consumers consider a “windfall.”|With the Great Recession a very recent memory, and with the economy and labor market still struggling, many consumers are saying that they plan to use their tax refund money prudently.

When it comes to paying taxes, where you live matters. While many of us focus on the amount we pay in federal taxes, the reality is that there are a number of taxes that we pay. In fact, your local taxes might be taking a bigger bite out of your income than you expect.

The 2014 tax season is underway, and the IRS has released some statistics that show how things are progressing this season.

Now that the year is quickly drawing to a close, it’s time to double-check your tax strategy and figure out if there are any last-minute tax moves you should be making.

A new year is approaching, and that means the IRS is issuing guidance for the coming year. Even as you gather your 2013 information and prepare to file your taxes, it’s important to begin planning for next year. Looking ahead to 2014 can help you avoid pitfalls, and prepare you to do what you can to reduce your tax liability.

There will always be that intent on earning money by tricking the hard-working out of their cash. Right now, the IRS is warning about two new scams that might impact you:

Now that the year is drawing to a close, it’s time to start organizing your taxes. It’s not too early to start thinking about filing your taxes — especially if you want to avoid a frenzied attempt to get your tax return filed by April 15.

Earlier this month marked the day that the tax code as we know it, complete with income tax, became law. The 16th Amendment was properly approved in February of 1913, and Woodrow Wilson signed the requisite legislation for our tax code on October 3, 1913. So the tax code — and the income tax as codified in the Constitution — has reached its 100th birthday.