If you’re a typical Joe Blow, you’re paying a much bigger percentage of your income in taxes if you live in a state that lacks a graduated income tax and relies heavily on consumption taxes.
There are better ways and worse ways to handle this sticky situation. Failing to file is the latter. The penalty for that is 10 times worse than it is for paying late.
Make sure you get back every penny you deserve. Don’t overlook claiming these common deductions and credits on your taxes this year.
From the tax man’s point of view, some of these perks are considered taxable income, and some are hovering in a practical gray area, for now.
Pause in service provides a chilling reminder of the heightened threat of identity theft at tax filing time.
Scammers are outflanking authorities investigating tax-time cases as complaints soar.
Consider yourself warned: Avoid these tax scams making the rounds, both the kind where other people try to scam you, and the kind where you try to get away with shenanigans.
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