Tax Advice

If you've made a mistake on your tax return, the IRS is now going to give you a little time to stew about it before hitting you with any explanation. A new warning letter will tell you to check your return and file an amended return, but won't offer any details or give an amount due. What should you do with such a letter? Tax expert Tracy Coenen walks you through it.

Tax refunds give the illusion of getting free money, when in reality it's only giving Uncle Sam a tax-free loan year after year. Click here to see how you can skip the one-time refund and instead pad that money into your paychecks.

See Also: How Do I Correct My Withholding?

Think December is just about the holidays? Au contraire. It's also a prime time for reducing your looming tax bill. Here are five year-end tax moves you should be making now.

These are some of the top excuses tax protesters say you can use to legally avoid paying income taxes. The only problem is that they're completely wrong.

With audits on the rise, even honest, everyday taxpayers are finding themselves under the government's microscope. If you want to avoid this unpleasant experience, stay away from these Top 5 red flags that can draw the attention of the IRS.

The Alternative Minimum Tax (AMT) was passed in 1969 to ensure that upper-income taxpayers paid at least some income taxes. Up to that point, taxpayers skilled at finding enough in itemized deductions, income exclusions and tax credits would sometimes manage to avoid paying any income taxes.

Whether someone can do their own taxes is an interesting question. The U.S. tax code gets more and more complicated with each passing year. Another year, another set of rules added to the previous set of rules. If you have a very simple and straightforward tax situation, then DIY taxes may be for you.