Tax Breaks

Tax Deadlines Extended for Texas, Oklahoma and Louisiana Winter Storm Victims
Tax Breaks

Tax Deadlines Extended for Texas, Oklahoma and Louisiana Winter Storm Victims

Following FEMA's disaster declarations for winter storms in Texas, Oklahoma and Louisiana, victims of the storms in those states get more time to file…
May 15, 2021
IRS Extends Tax Deadlines for Alabama, Kentucky and Tennessee Storm Victims
Tax Breaks

IRS Extends Tax Deadlines for Alabama, Kentucky and Tennessee Storm Victims

Following FEMA's recent disaster declarations for severe storms in Alabama, Kentucky and Tennessee, victims of the storms in those states get more tim…
May 15, 2021
Refunds for $10,200 Unemployment Tax Break to Begin This Week
Coronavirus and Your Money

Refunds for $10,200 Unemployment Tax Break to Begin This Week

The IRS will start issuing automatic refunds in mid-May to people eligible for the unemployment benefit tax exemption.
May 14, 2021
Taxes in Retirement: How All 50 States Tax Retirees
Tax Breaks

Taxes in Retirement: How All 50 States Tax Retirees

We rated every state, plus Washington, D.C. on how retirees are taxed. We considered taxes on Social Security and other retirement income, tax exempti…
May 13, 2021
IRS Gives Truckers a Tax Break in Response to the Colonial Pipeline Shutdown
Tax Breaks

IRS Gives Truckers a Tax Break in Response to the Colonial Pipeline Shutdown

The tax penalty for using dyed diesel fuel for highway use is temporarily suspended.
May 13, 2021

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Caregivers Should Consider These Tax Breaks
taxes

Caregivers Should Consider These Tax Breaks

Caring for a spouse or a parent can be stressful emotionally and financially, but there are a number of tax breaks that you could benefit from.
May 12, 2021
There's Still Time to Fund Your IRA and Cut Your Taxes
Tax Breaks

There's Still Time to Fund Your IRA and Cut Your Taxes

Although you need to act quickly, you still have time to make a 2020 IRA contribution and lower your tax bill.
May 11, 2021
9 Reasons to File a Tax Return Even If You Don't Have To (Warning: They're Due May 17!)
tax filing

9 Reasons to File a Tax Return Even If You Don't Have To (Warning: They're Due May 17!)

Although you might not be required to file a tax return, it might be wise to file one anyway. Here are a few reasons why.
May 11, 2021
5 States With No State Sales Tax
Tax Breaks

5 States With No State Sales Tax

Alaska, Delaware, Montana, New Hampshire and Oregon do not impose a state sales tax, but that doesn't necessarily make them the best states for low ta…
May 11, 2021
Families with Dependent Care FSAs Get Good News from the IRS
Tax Breaks

Families with Dependent Care FSAs Get Good News from the IRS

You'll still get a tax break if you carried over unused amounts from your dependent care flexible spending account from 2020 to 2021.
May 10, 2021
8 Money-Smart Ways to Spend Your Tax Refund
Tax Breaks

8 Money-Smart Ways to Spend Your Tax Refund

Since this year's tax deadline was pushed back to May 17, many people are just now filing their tax return. That means there are a lot of tax refunds …
May 10, 2021
10 States With the Highest Sales Taxes
Tax Breaks

10 States With the Highest Sales Taxes

Before you embark on a shopping spree in any of the 10 worst states for sales taxes, make extra room in your budget.
May 6, 2021
Saver's Credit: A Retirement Tax Break for the Middle Class
Tax Breaks

Saver's Credit: A Retirement Tax Break for the Middle Class

Your retirement contributions could be the key to a lower tax bill.
May 3, 2021
More Monthly Child Credit Payments, Higher Child Care Credit, and Other Tax Breaks in Biden's Latest Plan
Tax Breaks

More Monthly Child Credit Payments, Higher Child Care Credit, and Other Tax Breaks in Biden's Latest Plan

President Biden's American Families Plan extends several popular tax credits that benefit low-income and middle-class families.
April 29, 2021
Biden Hopes to Eliminate Stepped-Up Basis for Millionaires
Tax Breaks

Biden Hopes to Eliminate Stepped-Up Basis for Millionaires

As part of his American Families Plan, President Biden wants to change the way capital assets are taxed when you die.
April 28, 2021
Biden Wants to Extend the $3,600 Child Tax Credit Through 2025
Tax Breaks

Biden Wants to Extend the $3,600 Child Tax Credit Through 2025

If President Biden's proposal is enacted, eligible families could receive monthly payments for years.
April 28, 2021
Medical Expenses Retirees (and Others) Can Deduct on Their Taxes
tax deductions

Medical Expenses Retirees (and Others) Can Deduct on Their Taxes

The list of medical deductions is broad and includes items such as expenses for service animals and the cost of long-term care.
April 14, 2021
2021 Child Tax Credit Calculator
Tax Breaks

2021 Child Tax Credit Calculator

See how much money you'll get in advance under the new child tax credit rules for 2021.
April 14, 2021
Monthly Payments of the 2021 Child Tax Credit Will Begin in July
Coronavirus and Your Money

Monthly Payments of the 2021 Child Tax Credit Will Begin in July

After doubts about whether it was up to the task, the IRS says it's on schedule to start sending monthly child tax credit payments this summer.
April 13, 2021
11 Surprising Things That Are Taxable
Tax Breaks

11 Surprising Things That Are Taxable

If you picked up any of the income or property on our list, make sure you declare it on your next tax return.
April 12, 2021
Child Care Tax Credit Expanded for 2021
Tax Breaks

Child Care Tax Credit Expanded for 2021

The American Rescue Plan helps families with young children by temporarily increasing the amount and scope of the child and dependent care tax credit.
March 26, 2021
Talking with the Taxpayer Advocate: The IRS Is Under Stress
Financial Planning

Talking with the Taxpayer Advocate: The IRS Is Under Stress

The pandemic and new stimulus-driven responsibilities are straining IRS resources.
March 24, 2021
States Eye Higher Taxes for Top Earners
Tax Breaks

States Eye Higher Taxes for Top Earners

The tax revenue could close budget gaps, but the measures could drive away mobile workers.
March 24, 2021
10 States With the Highest Beer Taxes
Tax Breaks

10 States With the Highest Beer Taxes

Find out where you'll spend the most money on some suds.
March 24, 2021
Max Out Your Stimulus Check with Rocky Mengle
Tax Breaks

Max Out Your Stimulus Check with Rocky Mengle

You probably know you're getting a stimulus check, but did you know you can have an impact on its amount? Senior tax editor Rocky Mengle talks about t…
March 17, 2021