Taxes Feed

The new Inflation Reduction Act will benefit consumers in many ways

It seems like a miracle. The Democrats finally came together and passed major legislation to benefit American consumers. It’s called the Inflation Reduction Act. U.S. Senator Elizabeth Warren (D-Mass.) said the law will have a lasting impact on the planet and will help lower costs for Americans across our country. Read more →


Intuit to pay $141 million over ‘deceptive’ TurboTax ads

Intuit has agreed to a $141 million settlement to resolve allegations by 51 attorneys general that it deceptively advertised its “free” online TurboTax products. Although 70 percent of taxpayers qualify for the IRS Free File Program, operated by Intuit and others, less than 3 percent of taxpayers used it to file their returns in 2020. Read more →


While everyday Americans are paying taxes, some corporations aren’t paying their fair share, watchdog group says

If you’re like me, you pay income taxes every year. However, some large corporations are evading taxes while raising prices. Five large corporations – including FedEx, Nike, and Duke Energy, which raised prices on consumers last year – paid an average tax rate of negative 11.6 percent. Read more →


Facts and figures for Easter 2022

What are your plans for Easter? Eighty percent of consumers plan to celebrate Easter this year and will spend an average $169.79, according to the National Retail Federation. Total spending for the holiday is estimated to be $20.8 billion, down slightly from last year's forecast of $21.6 billion. Read more →


FTC asks court to stop Intuit’s ads claiming TurboTax filing is free

Intuit Inc., the maker of the TurboTax tax filing software, is being charged with deceiving consumers with bogus advertisements pitching “free” tax filing that millions of consumers can’t use. The FTC also filed a federal district court lawsuit asking a court to order Intuit to halt its deceptive advertising immediately. Read more →


Crypto investors need to pay taxes on virtual investments

Consumers need to accurately declare and pay taxes on their virtual investments. Failure to properly declare and pay taxes on cryptocurrency transactions may be a civil or criminal violation of federal tax law, as well as a violation of state tax law, which could result in steep financial liabilities Read more →


Tips for filing your 2021 taxes

In 2021, Congress expanded tax benefits and made other advanced payments in response to the covid-19 pandemic and the resulting financial impact. This may increase the amount of money you’ll receive through your tax refund. You also may be eligible to access other benefits when you file a tax return. Read more →


The best states to retire in 2022

It’s a question that comes up frequently these days. Where’s a cheaper place to live? Using safety, affordability, quality of life, health-related factors, and more than 40 other categories, WalletHub, a personal finance website, compared the 50 states to help retirees find the best way to retire. Read more →


The why and how of your total wealth

Many Americans lack financial literacy. Moreover, regardless of their financial wealth, many Americans also aren’t as happy as they could be … lacking what one of our reviewers defined as “life literacy.” We wrote “Your Total Wealth: The Heart and Soul of Financial Literacy” because of these two reasons. Read more →


At last: Huge infrastructure bill gets signed into law

It’s a great occasion. President Joe Biden signed the $1.2 trillion Infrastructure Investment and Jobs Act into law today. People in the United States should be dancing in the streets. Nationally from 2003 to 2017, federal infrastructure spending dropped more than 20 percent. Read more →