Find a Treasure or Hidden Cash? The IRS Wants Its Cut
Earlier this year, a marine exploration company recovered a great deal of gold — worth more than $1 million — from a ship that went down in 1857. When you find that kind of treasure, you better believe that the IRS wants its cut. Indeed, any treasure […]
Why You Should File Your Tax Return — Even If You Don’t Owe
If you don’t owe taxes, you aren’t required to file a tax return. However, just because you don’t have to file a tax return doesn’t mean that you shouldn’t file one. In fact, you might be missing out on money that the government owes you if you […]
0.9% Obamacare Tax Could Surprise Many Married Couples
Starting in tax year 2013, a new tax is being levied on those considered high earners. This is a 0.9% Medicare surtax. While it seems fairly straightforward at first, many married couples might find an unpleasant surprise when they go to file […]
Obamacare Tax-Penalty Deadline Extended
Now that 2014 is approaching, many consumers are starting to become concerned about the requirements put on them by the Patient Protection and Affordability Act (PPACA — also called Obamacare). For those who already have health insurance, things are likely to remain mostly the same.
The biggest changes as […]
Cyprus and Taxing Bank Deposits. Could It Happen in America?
The recent dramas surrounding Cyprus and its bailout situation are subsiding a little bit. However, the debates over what to do did bring up something new to many: The idea of taxing bank deposits.
To meet requirements to qualify for a bailout from the European Union, Cyprus politicians were encouraged […]