WASHINGTON — The IRS strikes back: The tax agency reports that the number of identity theft victims plummeted last year after agents struggled for years to combat what has become a multibillion-dollar industry. The number of victims dropped by 46 percent, to 376,000, the IRS said. These taxpayers had their identities stolen by criminals who [...]
You work hard, so why not take some credit for it? The Earned Income Tax Credit is one of the most overlooked tax credits around, according to many experts. But it is also one of the more generous. The IRS estimates that 26 million people received about $65.6 billion under this tax credit last year. [...]
A former software corporation president who was charged with violating federal tax laws lost his appeal this week in the federal 6th Circuit Court of Appeals. John Rankin was charged by a grand jury with 17 counts of tax violations but he moved to dismiss in the United States District Court for the Southern District [...]
Donald Trump’s taxes still have many people scratching their heads: How did he incur such massive losses? What happened in other tax years? Is what he did legal? And how is this even possible? The tax code is notoriously complex. But in general, federal income tax is progressive — those who earn less face lower [...]