The taxes may be done, but what should you do if the IRS decides to conduct an audit? A recent article from CNNMoney asks just this question, and they offer some tips that could be good to know if you find yourself in that situation.
The number of audits is going up
Over the last ten years, [...]

While recent news has suggested an uptick in the economy, many are still without jobs. And with the deadline to file taxes just around the corner, the New York Times reported on a series of tax tips for individuals who are unemployed.
Returns are coming into the IRS more slowly this year, with 3 percent fewer [...]

Record Refunds
White House representatives are reporting that the average 2009 tax refund will rise by almost ten percent from last year as a result of the Obama administration’s economic recovery bill.
While only around half of returns have been filed thus far, early data from the IRS, as reported by CNNMoney, indicates that the average 2009 [...]

The National Retail Federation is predicting that Americans will trend towards spending their tax refunds more liberally this year, based on the results of a recent survey the group conducted.
The trend would move from using tax refunds to pay down debt and saving, to start spending refunds again in what the federation described as cautious.
Consumers [...]

As tax season rolls around, you may find yourself vowing to develop a better system for storing and organizing income statements, receipts, bills and other important documents that can get lost in the shuffle of everyday life all too easily.
Keeping track of your papers can be crucial, too, if you receive a bill from your [...]

As the NBC show The Office illustrated humorously, declaring bankruptcy involves more than just verbally declaring “bankruptcy.” In fact, it’s a complex process that involves substantial legal paperwork. Here’s a look at how various bits and pieces—including your expected tax return—fit into the bankruptcy process.
Bankruptcy Documents You’ll Need
While the specific documentation required to file for [...]

Tax time can be stressful for those who end up owing the government money, especially those in dire financial straights or recovering from a recent bankruptcy filing.
The Associated Press reports that President Obama has proposed new taxes that would both create incentives for companies to hire new workers and increase the amount of money paid [...]