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Intuit to Pay $141M to Taxpayers Over Misleading ‘Free' Turbotax Ads
New York’s attorney general is announcing that the company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services. Under the terms of a settlement signed by the attorneys general of all 50 states, Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and...
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Biden Announces $1.5 Trillion Drop in National Deficit
President Joe Biden announced Wednesday that his administration is on track to reduce the national deficit by $1.5 trillion in 2022, allowing the feds to pay down the national debt for the first time in six years.
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Wages Up to $147,000 Are Currently Taxed for Social Security. How That Could Change
Making higher earners pay more into Social Security is a popular idea with many Americans. Here’s how such a change could work.
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Here's What to Do If You Missed the April 18 Tax Filing Deadline
If you missed the April 18 tax deadline, you may cut back on penalties by filing your return promptly. Here’s everything late filers need to know.
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2022 Tax Day: Need to File For a Tax Extension? Here's What to Know
If you need more time to complete your 2021 returns, here’s what you need to know about requesting a tax extension, deadlines to file and how to check your refund status.
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How to Decide Whether to Spend Or Save Your Tax Refund
For most Americans, a tax refund is an opportunity to shore up a safety net. If your savings is on track, put a portion toward something that makes you happy.
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On Tax Day, Filing an Extension May Be Better Than Rushing a Return
Monday is Tax Day, the federal deadline for individual tax filings and payments. Here are some last-minute recommendations if you have yet to file.
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Some Countries Do Your Taxes For You. Here's Why the US Doesn't
Imagine a world where the government filed your taxes for you for free and all you had to do was sign off on it. This is the way it’s done in some European countries, Denmark, Sweden, Spain, the United Kingdom. It’s called Ready Return. Here in the U.S., we aren’t so lucky. Americans on average spend 13 hours and...
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Why You Have a Slim Chance of Getting Audited This Tax Season
Only 1 out of every 225 tax returns are inspected by an IRS agent, so your odds of getting audited are low, NBCLX Political Editor Noah Pransky says. He explains how the agency has been underfunded over the past several years and why audits are more likely for low-income taxpayers.
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In Many Countries, the Government Files Your Taxes. Why Not in the US?
In Denmark, the UK, Spain and elsewhere, the government fills out your tax return for you, and you only have to sign off on the information in it. But in the U.S. we often rely on private companies to help us file our taxes; according to IRS data, the average American spends 13 hours and $240 to file their taxes....
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Will the IRS Audit You in 2022? 3 Major Factors to Know
Tax Day 2022 may be the last thing you want to think about right now, but here’s one fact to put your mind at ease: You probably won’t get audited. The number of tax returns reviewed by the Internal Revenue Service (IRS) is far lower today — particularly for wealthy Americans — than it was a decade ago, according to...
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As Tax Day Approaches, Your Refund May Be Lower Than You're Expecting, Accountants Say
As tax day approaches, accountants say your refund may be lower than you’re expecting.
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Americans Are ‘Wasting Too Much Money on Housing,' Says Top Economist—Here Are 4 Ways to Get ‘House Rich'
As mortgage interest rates spike, it costs more to buy a home. Whether renting or owning, many people waste money on housing, says a Harvard-trained economist.
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Who May Still Be Eligible for $1,400 Stimulus Checks With Their 2021 Tax Returns
Most of the third round of stimulus checks has been sent. But if you never received a payment or your circumstances have changed, you may be eligible for money.
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House Passes ‘Secure Act 2.0.' Here's What That Means for Retirement Savings
The House of Representatives has passed the Securing a Strong Retirement Act, or Secure Act 2.0. It’s good news for many retirement savers.
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Op-Ed: Here Are Some Savvy Tax-Efficient Investment Strategies
High-net-worth investors have several options when it comes to tax-saving moves. Here’s a look at a few of them.
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Last Chance to Avoid a 50% Penalty on Required Withdrawals Is April 1 for Some Retirees
If you turned age 72 during the second half of 2021, the deadline for your first annual required withdrawal from retirement accounts is April 1, 2022.
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FTC Sues TurboTax Owner Intuit for Advertising Tax Software as ‘Free'
The Federal Trade Commission claims Intuit uses “bait and switch” advertising that markets TurboTax as free but charges most users when they file their taxes.
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Sen. Elizabeth Warren Says Billionaires Should Pay More Taxes to Help the ‘Next Elon Musk'
“I’m happy to celebrate success, but let’s remember, Elon Musk didn’t make it on his own,” the Massachusetts Democrat told CNBC on Tuesday.
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House of Representatives Set to Vote on Bill to Improve Retirement System. What to Know
The House of Representatives could vote on the Securing a Strong Retirement Act, or Secure Act 2.0, as early as Tuesday.