Q. I have an inherited IRA that’s in a trust from my father who died five years ago, and I get required distributions each year. I just switched accountants and learned the trust should have been filing tax returns but it never did. What should I do, and how much in penalties do I have to worry about?
Two New Jersey men stand accused of filing false federal income tax returns on behalf of county jail inmates who used the refund money they received to pay for bail, lawyers, and other expenses.
New Jersey is suspending a computer software program that’s designed to catch tax cheats because it’s slowing down tax refunds to thousands of honest taxpayers.
A tax-preparation glitch affecting about 660,000 tax returns will delay refunds by as long as six weeks, with customers of the nation's largest tax preparer among those affected.
Close to 60 percent of Americans will have filed their tax returns by the end of this month, according to the National Retail Federation's 2013 Tax Returns Survey.
Democrats are charging that Mitt Romney manipulated his deductions to keep his overall 2011 federal income tax rate below a certain level for political purposes.