Tax Advice

What Will the IRS Do to You?

posted: 264 DAYS 16 HOURS AGO

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What happens when you cheat on your taxes? For one thing, you could lose your nomination for a cabinet position in the Obama administration. You could end up in jail like Wesley Snipes, or you could end up with a big fine. You may think these kinds of penalties only happen to the famous tax cheats, but regular folks get in hot water too.

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The Stimulus And Your Tax Bill

posted: 275 DAYS 19 HOURS AGO

Our partners at SmartMoney continue to break down the stimulus plan and what it means to your tax bill. Today's installment contains all you need to know about homebuyer credits, the AMT, education credits and unemployment payments.

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Tax Tip: Seniors Mark April 1

posted: 276 DAYS 19 HOURS AGO

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SmartMoney offers today's tax tip: for seniors who turned 70-and-a-half in 2008, not to forget to make the necessary IRA withdrawals by April 1. There are tax implications to taking out your money, so if you qualify, you better read on...

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Get Your Free Tax Prep Here!

posted: 283 DAYS 19 HOURS AGO

filed under: Taxes, Tax Advice, Tax Basics, Tax Credit, Tax Deduction

If paying a professional to do your taxes just isn't in your budget this year, don't worry, you don't have to be left to your own devices! The IRS' VITA program and a new program from Wal-Mart and the United Way can help. WalletPop went to visit one VITA office to see what a good offer it is...

Watch more AOL Personal Finance videos on AOL Video

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Give Yourself an Instant Pay Raise

posted: 468 DAYS 23 HOURS AGO

filed under: Tax Basics, Taxes, Tax Advice

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?

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Top 5ive Year-End Tax Tips

posted: 488 DAYS 17 HOURS AGO

filed under: Taxes, Tax Advice, Tax Basics

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.

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Top Tax Excuses

posted: 478 DAYS 20 HOURS AGO

filed under: Taxes, Audit, Tax Advice

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.

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What Can Get IRS to Target You

posted: 471 DAYS 18 HOURS AGO

filed under: Tax Advice, Audit

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.

Cassandra Shie, AOL

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Alternative Minimum Tax

posted: 312 DAYS 19 HOURS AGO

filed under: Tax Basics, Tax Advice, AMT

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.

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