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I Owe Back Taxes. Will That Affect My Tax Return This Year?

We can just about guarantee that if you haven’t already been thinking about your taxes, you are now. From national tax commercials to social media, you’ve probably been inundated with plenty of re...

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Olympic Winnings Raided By IRS
Legislation Would Make Olympic Winnings Tax Free The 2012 Olympics have just ended, but not the tax bills for American athletes that brought a medal across the pond. Winning Olympic gold, silver or bronze is no easy task. An enduring fete, the person...
IRS Agents Using More Legal Summons in Document Fights
Uncle Sam Now More Likely to Flex Legal Muscles with Taxpayers As the IRS intensifies its efforts to investigate more of the nation’s wealthy and businesses suspected of paying too little in taxes, its agents are now flexing their legal muscles ear...
Trillions Stashed Offshore by World’s Wealthy
Secret, Hidden Money Provides Fodder for IRS Efforts Everyone wants to keep their money hidden from the taxman, but a recent study shows that the world’s wealthiest are doing that pretty well. Offshore tax havens are claimed to be the home to as mu...
Rock Stars Who Owed Back Taxes
Behind the Music: Back Taxes Ask any guy what his dream job is and rock star is sure to make the list. Life doesn’t get any better when you’re making big bucks playing music in front of thousands of people. But while being an entertainer can be f...
IRS Goes After Unsellable Artwork for $40 Million
Back Taxes Take the Vision Out of the Art Next time you buy a piece of artwork, make sure it’s sellable. That’s the lesson two descendants of a New York art collector are learning after inheriting a masterpiece that’s pegged with a $40 million ...
Internet Taxes Coming to a Mouse Near You
More States Adopting Online Sales Taxes As a struggling economy tightens state budgets across the country, more state capitols are taxing internet sales to lessen the pinch. Online sales taxes are coming to more and more states, giving online custome...
Washington Argues Over Tax Hikes on Wealthy
D.C. Tax Warfare Heats Up as “Fiscal Cliff” Nears Tax cuts are at the center of attention in Washington again as president Barack Obama and Democrats hope to raise income taxes on the wealthy. It’s a debate that surges every so often as...
2009 Tax Bills Lowest Over Past Three Decades
Study: Federal Tax Rates Dipped Due to Stimulus Tax Cuts If you noticed your 2009 federal income tax bill was a bit lighter than normal, then you weren’t alone. The Great Recession brought many families tough economic times, and Uncle Sam sought to...
Does Mitt Romney Owe Back Taxes?
Presidential Candidate Alleged to Have Overseas Accounts Presidential candidate and former Massachusetts governor Mitt Romney has received a lot of media attention over the past couple weeks, and who knows whether it’s helpful for his campaign to b...
Actors Who Owed Back Taxes
Tax Man Plays a Starring Role Behind the Scene Actors can get their hands on some serious pay days when they get that starring role in a major motion picture. But after the roles dry up and the work stops, the little money left over leaves little lef...
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