Tax-filing season is underway through April 15. While filing may feel like a chore, many Americans could be pleasantly surprised this year with a larger tax refund. Here’s what we know.
The government has chosen to extend the upcoming tax deadline from April 15 to July 15. If you heard about that move, it sounds like a much-needed break during this coronavirus mayhem. But what exactly does this extension mean for taxpayers, and who does it benefit most?
(New York Times) — More than 48,800 of the nation’s prisoners claimed $130 million in fraudulent tax refunds by March of this year, and the numbers are probably much higher, according to a new watchdog report. The IRS paid $112 million of the claims, a small fraction of the $326 billion in refunds so far […]
(CNNMoney.com) — The first family paid $1.79 million in federal taxes for 2009 on adjusted gross income of $5.5 million, mostly from the sale of President Barack Obama’s books, the White House announced Thursday. Obama and first lady Michelle Obama reported $329,100 in donations to 40 different charities, with the largest reported contributions being $50,000 […]