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Income Tax
Americans Say Income Taxes Are Unfair as Support for Tax System Hits Near-Record Low
58% believe lower-income people pay too much; and 70% say corporations don’t pay enough A growing number of Americans no longer believe the federal income tax system is fair. A new Gallup survey shows just ... more
Who Needs to File Taxes in 2025? IRS Filing Requirements Explained Before Tax Day
Do I Need to File a Tax Return in 2025? With Tax Day 2025 approaching on April 15, many Americans are asking: “Do I need to file taxes this year?” The answer depends on your ... more
South Carolina eliminates state income taxes for 60,000 people
Are you a veteran retired in South Carolina? Now, you're no longer required to pay state income taxes. This is happening under a newly passed bill that allows all military retirement income to be exempt ... more
Social Security counting as income explained
As Americans prepare their taxes, many who collect Social Security are unsure of whether benefits count as income or not. Whether benefits count as income depends on how much of an income you have overall ... more
State taxes: Which 9 states have no income tax?
Tax bills can get expensive, and many families often look for ways to pay less in taxes. State income taxes are important to factor in. One way a family could manage this is by residing ... more
Social Security: Higher wages hurt benefits
When you retire, it's usually a time to relax. This isn't the case for many, and higher wages can impact your Social Security payments. While earning a higher wage is ideal, so is cashing in ... more
Social Security: What age do recipients no longer pay taxes on benefits?
Social security benefits are designed to help pay for a retirees life. Sometimes people still need to pay taxes on them because the payments are considered income. The magic age for retiring to not have ... more
Stimulus check: Are you one of the thousands of Americans eligible for a surprise tax refund?
Some states are changing how their taxes work this year, with many residents getting surprise refunds before the holidays. The Department of Revenue for Pennsylvania announced letters will be going out to thousands of residents ... more
Tax brackets are being raised thanks to the impact of inflation across the nation
The massive surge in consumer pricing has caused inflation adjustments for the 2022 tax year. This applies to federal income brackets and the standard deduction. Tax bracket thresholds are now rising and tax bracket cut ... more
These 13 states decrease the size of your social security checks
Social security is a major way for people to survive when retiring, and the checks are already subject to federal taxes. Many states don't take out state taxes on top of that, effectively minimizing the ... more
I forgot to file my taxes on time, what happens now?
The extension for taxpayers was May 17. They had until then to file an extension if they needed more time to complete their taxes. If you forgot to file or simply did not ask for ... more
File your taxes for free with IRS’s Free File before Friday’s final deadline
Free File is software that the IRS offers for people who are below a certain income so they can file their taxes for free. Anyone who has an adjusted gross income of $72,000 or less ... more
There’s only one week left until the federal tax deadline, don’t forget or it’ll cost hundreds in penalties
Deadlines for 2020 taxes this year were in May, but many opted to file for the extension which is up Oct. 15. The deadline, which is normally in April, was extended to May 17. Taxes ... more
People who make an income using sites like Etsy and eBay will now need to pay taxes for making over $600
Beginning in 2022, anyone selling anything online will be required to claim it on their taxes as income. People who sell $600 worth of goods or more on sites like eBay or Etsy will now ... more
