Method Man Runs into the Tax Man

posted: 65 DAYS 19 HOURS AGO

filed under: Taxes, Audit

Hip-hop star turned actor Method Man is looking at four years in prison on charges that he failed to file a return or pay New York state income taxes between 2004 and 2007.

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Tax Quiz: Is It Deductible?

posted: 257 DAYS 17 HOURS AGO

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

AOL | AP

Ever have sticker shock over the bottom line of your tax return and start to think about some "creative accounting," looking for deductions wherever you can find them? Before you get into trouble, test how well you know what is and isn't deductible.

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10 Things the IRS Won't Tell You

posted: 260 DAYS 17 HOURS AGO

Tax preparation is more complicated this year than even, especially for people who have had drastic shifts in their financial situation, and that's all the more true because the IRS is keeping some secrets from you.

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Plan Ahead for Your 2010 Taxes

posted: 272 DAYS 14 HOURS AGO

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

Tetra Images

Tax Day for your 2008 return is just around the corner, but it's not to early to start thinking about all the new credits you'll be getting on your upcoming filings thanks to the stimulus bill. Here's your guide to planning ahead for 2010!

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What Will the IRS Do to You?

posted: 275 DAYS 12 HOURS AGO

Corbis

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: 286 DAYS 15 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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This Year's 10 Weirdest Write-Offs

posted: 498 DAYS 13 HOURS AGO

filed under: Audit

CPAs file millions of tax returns for clients every year, and have garnered quite a few tales of oddball deductions clients attempt to take. From a marijuana crop to breast implants, see which write-offs were the weirdest, some of which are actually legal.
Also See: AOL Tax Center | Online Tax Filing

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Beware These 'Dirty Dozen' Tax Scams

posted: 482 DAYS 14 HOURS AGO

filed under: Taxes, Audit

Every year, people try to come up with new ways to cheat on their taxes, and every year the IRS comes up with its list of the most-popular current schemes. See the dirty dozen dodges your fellow citizens have been trying to employ this year to once again scam Uncle Sam.

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Should I Report Gambling Income?

posted: 489 DAYS 16 HOURS AGO

filed under: Taxes, Audit

Most people lose far more than they win while gambling, but what if you "get lucky" and win a chunk of money? Do you have to report it? What if you've lost far more than you've won? Then do you have to report it?

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