Author: Editor

Research consistently shows that many Americans misunderstand how their income is taxed, which experts say could help explain why many people are disgruntled with the U.S. tax system. About 55% of taxpayers said they think their taxes are too high that they are paying more than their fair share, according to a new survey by libertarian think tank Cato Institute and YouGov.At the same time, most taxpayers don’t grasp how taxes work, with widespread confusion over how tax brackets work and who pay the most in taxes in the U.S., according to other research. “While Democrats and Republicans disagree a lot, they tend to…

Tax tips for those who still haven’t filed Tax tips for those running up against the deadline to file their returns 01:37 Most taxpayers are staring down an April 15 deadline for filing their taxes, unless they ask for an extension or reside in one of 13 states where the IRS has extended the filing cutoff date due to natural disasters in those areas. The IRS on Monday said that all residents of both Arkansas and Tennessee qualify for an extension because of storms, flooding and tornadoes that affected those states starting on April 2. Instead of the normal tax deadline…

Tax tips for those running up against the deadline to file their returns – CBS News Watch CBS News Tuesday, April 15, marks the final deadline for most U.S. tax filers to send in their 2024 returns. Lisa Greene-Lewis, tax expert at Turbo Tax, joins CBS News with some tips for those still waiting to file. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

What to know about filing as Tax Day comes up – CBS News Watch CBS News Tax day is coming up on Tuesday, April 15. USA Today money and finance reporter Medora Lee joins “The Daily Report” with some tips if you don’t know where to start. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

How to make filing taxes easier with the deadline just days away – CBS News Watch CBS News With the filing deadline around the corner, CBS News business analyst Jill Schlesinger breaks down the basics and explains how to make the process less overwhelming Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

Tax tips as deadline looms – CBS News Watch CBS News Most Americans have until April 15 to file their tax returns or request an extension to file and pay any taxes owed. With less than a week left before the deadline, CBS News business analyst Jill Schlesinger joins “CBS Mornings” with some tax advice. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link

The acting commissioner of the Internal Revenue Service is expected to resign after the agency disclosed that it has agreed to share immigrants’ tax data with Immigration and Customs Enforcement to help identify and deport undocumented immigrants.According to a source familiar with the situation and a statement from the Treasury Department, Melanie Krause is leaving the agency due to disagreement over the Treasury Department’s decision to share IRS taxpayer data with the Department of Homeland Security. “Melanie Krause has been leading the IRS through a time of extraordinary change. As we focus on IT modernization and re-organize the agency to better…

Trump and Johnson chat with Republican holdouts on budget plan – CBS News Watch CBS News Several Republican holdouts went to the White House on Tuesday to discuss the GOP budget plan. CBS News congressional correspondent Nikole Killion reports. Then, political strategists Michael LaRosa and Lance Trover join “America Decides” with analysis. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. Not Now Turn On Source link