April 5, 2006 |
Tax return preparers at commercial chains made mistakes on virtually every tax return prepared at the request of undercover congressional investigators, the auditors said Tuesday. In 19 visits, the Government Accountability Office asked for assistance from preparers to file returns for two hypothetical families. Only two of 19 tax returns showed the correct refund amount, but both of those returns included errors.
CALIFORNIA | LOCAL
March 10, 2006 |
State Treasurer Phil Angelides, campaigning for governor, released seven years of tax returns Thursday showing that his income totaled $11.6 million and he paid $3.4 million in state and federal taxes. Although he is a millionaire, Angelides, who built his wealth in real estate in the Sacramento area, is the least wealthy of the three main gubernatorial candidates. His annual income averaged $1.66 million between 1998 and 2004. The high was 2003, when his adjusted gross income was $3.4 million.
March 5, 2006 |
Not everyone needs to file a federal income tax return. Many students, seniors and low-wage workers simply don't earn enough to have to file. As the federal filing deadline nears, the thought of being able to skip that chore might come as a relief. But you might want to file anyway -- even if you don't have to. Why? Each year, U.S. workers automatically pay billions of dollars in federal income tax through paycheck withholding.
January 5, 2006 |
H&R Block Inc. mistakenly mailed out free copies of its tax-return software that included the recipients' Social Security numbers on the mailing label, a spokeswoman said. The company estimates that fewer than 3% of the mailings included the numbers, although the spokeswoman declined to say how many copies of the TaxCut software went out. H&R Block began mailing letters to the recipients Dec. 22 warning them about the mistake.
December 22, 2005 |
Tax preparer H&R Block Inc. agreed Wednesday to pay $62.5 million to settle a number of class-action lawsuits dealing with its use of refund anticipation loans. A Circuit Court judge in West Virginia is scheduled to consider the settlement Friday. If approved, it will resolve four class-action suits filed in West Virginia, Ohio, Alabama and Maryland, as well as claims pending in 22 other states and the District of Columbia.
October 29, 2005 |
Former District of Columbia Mayor Marion Barry pleaded guilty to two misdemeanor counts stemming from his failure to file tax returns in 2000. Sentencing for Barry, a city councilman, was set for Jan. 18 in U.S. District Court. He pleaded guilty to misdemeanor counts of willfully failing to file and failure to provide information. A plea agreement recommended probation. Magistrate Judge Deborah A.
April 16, 2005 |
President Bush and his wife reported $673,000 in taxable income in 2004, a slight drop from the previous year, and Vice President Dick Cheney and his wife reported a 63% increase in their taxable income, to $1.3 million, according to their tax returns, which were released Friday. The Bushes paid $207,000 in federal income tax, approximately $20,000 less than last year. Their adjusted gross income last year was $784,219. The Cheneys paid $393,518 in federal income tax, up 55% from the prior year.
April 15, 2005 |
Haven't filed a 2004 federal income tax return yet? You've got a few hours left -- and plenty of company. As of last week, the Internal Revenue Service was still waiting for about 43 million returns, or just under 30% of the expected total. Many of those are returns from taxpayers who owe money and want to avoid writing Uncle Sam a check as long as possible. But many people simply procrastinate.
March 30, 2005 |
The difference between what taxpayers owe the government and what they actually pay on time totals more than $300 billion a year, the Internal Revenue Service said Tuesday. A research project at the tax agency found that the tax gap ranged from $312 billion to $353 billion in tax year 2001, compared with an earlier estimate of $311 billion. The project assessed individual, not corporate, taxes.
February 21, 2005 |
Vince Dorn, a 46-year-old technical writer for Silicon Valley biotech companies, has filed his own tax returns for as long as he can remember. This year, he handed his Form 1040 to a professional. "We wanted to make sure we were getting all the tax breaks we could get," said Dorn, who recently launched a technical writing business. "We had all these things going on: kids headed to college, a new business, a new home, issues with retirement plans.