Relax wealthy New Jersey residents. The state's millionaire's tax expired on Dec. 31, 2009. Now the Garden State's top tax rate is 8.97 percent on annual incomes above $500,000. But all you rich folks still have to deal with 2009 taxes. Last year, the 8.97 percent rate was replaced by three rates:8 percent on earnings between $400,001 and $500,000; 10.25 percent on income between $500,001 and $1 million; and 10.75 percent on folks raking in more than a million dollars a year. Opponents of the...

Aaron Zeff had no idea he was a tax delinquent until two IRS agents showed up last week at his Sacramento car wash. The amount the IRS says Zeff didn't pay back in 2006: 4 cents. So the IRS sent two people to collect four pennies? Actually, the bill was a bit bigger. Over the last four years the unpaid tax debt had grown to $202.35 thanks to interest and penalty fees. Zeff thought he had paid all taxes due from his business, Harv's Car Wash. And he has no idea how that 4 cents the IRS say...

First it was state tax departments that were using social media to track down folks who owed money. Now Uncle Sam is taking advantage of the information on these popular sites. The Electronic Frontier Foundation obtained documents, via a Freedom of Information Act request it filed with the assistance of the University of California, Berkeley's Samuelson Law, Technology and Public Policy Clinic, that show law enforcement offices and several federal agencies, including the Internal Revenue Servi...

The $18 billion job creation package, the Hiring Incentives to Restore Employment (HIRE) Act, officially known as H.R. 2847, will be law any time now. UPDATE: It's official. Obama signed the bill this afternoon (3/18) in a Rose Garden ceremony.The measure was finally approved by the Senate, 68-to-29, on March 17; the House had passed the bill on March 4, 2010, by a 217-to-201 margin.The bill's primary provisions encourage businesses to hire and keep workers. But there are a couple tax provisions...

New Hampshire individual tax returns are due on April 15, but the state isn't collecting on income its residents earned on the job. That's right. The Granite State doesn't have an income tax on W-2 wages. Before you start packing, note that the New Hampshire Department of Revenue Administration stays plenty busy. It collects taxes on individuals' interest and dividends income, inheritances and from businesses, as well as a variety of consumer excise and "other" taxes.The state's Interest a...

On St. Patrick's Day, we all claim a bit of the Emerald Isle. But it takes more than the legendary luck of the Irish to prevent a tax audit. True, the IRS has most recently been focusing its examinations on higher income taxpayers. And more business, both large and small, also are getting once overs, especially when it comes to how they classify workers. So most of us don't have to worry that much about getting that dreaded letter from an auditor. Unless, of course, we do something that attr...

If you're a football fan, you've seen those corn cob hats that University of Nebraska fans wear. If you're a fan of another Big 12 team, you've probably laughed at the stadium haberdashery.  But Cornhuskers isn't just the sports teams' nickname. It's a representation of agriculture's importance to the entire state. That's also evident on the Nebraska personal income tax form, where on line 33 you'll find the Beginning Farmer Credit. This credit is part of the Beginning Farmer Program, whi...

St. Patrick's Day is Wednesday, but we start the week with a collection of tax bloggings that could be very valuable for many of us still working on our returns. Yes, the theme of our 67th Tax Carnival is A Pot of Tax Gold. These aren't your typical money-related superstitions. No, we know it takes much more than the luck o' the Irish or a handful of four-leaf clovers to get to the end of the tax-saving rainbow. So settle in for some Tax Carnival tips that could give "green" just the filing ...

Congress talked about it as a way to pay for national health care reform, but the legislative fizz quickly went out of taxing soft drinks and other sugary beverages. Such proposed levies, however, are freely flowing from state and local taxing offices. Colorado's beverage (and candy) tax became law last month. Lawmakers in New York... skbell1...

Congress talked about it as a way to pay for national health care reform, but the legislative fizz quickly went out of taxing soft drinks and other sugary beverages. Such proposed levies, however, are freely flowing from state and local taxing offices. Colorado's beverage (and candy) tax became law last month. Lawmakers in New York state, California and Philadelphia are trying to enact similar measures in those jurisdictions.New York's effort apparently is falling flat and the expected resist...

Earlier this month, I posted Are you ready for a Roth conversion? It looked at the elimination of the income limit on converting a traditional IRA to a Roth account. Some of the comments that item generated were from my fellow personal finance blogger and Twitter pal JoeTaxpayer. I invited him to elaborate, and he graciously agreed to write this guest post. Today, I'd like to offer a look at what it would take to be in a higher tax bracket at retirement. Since no one can say what the tax rates...

Earlier this month, I posted Are you ready for a Roth conversion? It looked at the elimination of the income limit on converting a traditional IRA to a Roth account. Some of the comments that item generated were from my fellow personal finance blogger and Twitter pal JoeTaxpayer. I invited him to elaborate, and he... skbell1...

The Treasure State has a nice prize for its elderly residents. They might be able to claim Montana's Elderly Homeowner/Renter Tax Credit. As the name indicates, this tax break is available to renters as well as homeowners as long as they were 62 or older by Dec. 31. The claimants also must have lived in Montana for at least nine months during the tax year and occupied a Montana residence for six months or more during that time frame. Homeowners calculate their credit based on property taxes p...

The Treasure State has a nice prize for its elderly residents. They might be able to claim Montana's Elderly Homeowner/Renter Tax Credit. As the name indicates, this tax break is available to renters as well as homeowners as long as they were 62 or older by Dec. 31. The claimants also must have lived in... skbell1...

St. Patrick's Day is Wednesday, but we start the week with a collection of tax bloggings that could be very valuable for many of us still working on our returns. Yes, the theme of our 67th Tax Carnival is A Pot of Tax Gold. These aren't your typical money-related superstitions. No, we know it takes... skbell1...

Individual retirement accounts get extra attention this time of year since contributions for the previous tax year can be made until April 15. In 2010, many owners of traditional IRAs also are considering whether to convert those accounts to Roth IRAs. But moving retirement money from one plan to another is not limited to any... skbell1...

Individual retirement accounts get extra attention this time of year since contributions for the previous tax year can be made until April 15. In 2010, many owners of traditional IRAs also are considering whether to convert those accounts to Roth IRAs. But moving retirement money from one plan to another is not limited to any particular time frame. Done properly, rollovers can help you maximize your retirement dollars. Even better, they can be accomplished without costing you any added taxe...

Missouri shows its taxpayers 54 assorted credits that could reduce their tax bills. The officially named miscellaneous credits, some for businesses, others for individuals, are administered by several government agencies, including the Missouri Department of Revenue. It's an interesting list, but some tax credit titles in particular caught my eye: Charcoal Producers Credit, Demolition Tax Credit, Domestic Violence Tax Credit, Maternity Home Credit, Neighborhood Assistance Credit, Qualified ...

Missouri shows its taxpayers 54 assorted credits that could reduce their tax bills. The officially named miscellaneous credits, some for businesses, others for individuals, are administered by several government agencies, including the Missouri Department of Revenue. It's an interesting list, but some tax credit titles in particular caught my eye: Charcoal Producers Credit, Demolition Tax... skbell1...

Thank you very much Census Bureau for the letter that arrived in our snail mail box last week alerting us that in another week or so, we'll be getting more mail from you. This next delivery will be a 2010 Census form which, encourages the announcement letter, the hubby and I need to fill out... skbell1...