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If you are expecting a tax refund in 2013, the IRS has good news for you. First, your tax refund will probably reach you in less than 21 days. Second, you will be able to check the status of your tax refund online through Where’s My Refund? The IRS announced that it issued more than…

 Today is January 2, 2013.  Until now, the Obama administration and Congress have failed to come up with a fix for raised taxes that economists warned can lead to the fiscal fall. With the start of the New Year, there are now key tax increases and spending cuts expiring that will affect almost all American…

The country is facing a fiscal cliff because many of the tax cuts initiated in the Bush administration are now coming to an end. There will be key tax increases, and expiring of spending cuts and other tax cuts after 31st Dec, 2012. From 1st Jan, 2013, American taxpayers will be paying more in taxes…

There has been much talk about the expiring of many tax breaks in 2012 because the country is facing a fiscal cliff. But this phenomenon of expiring of tax breaks is not unique to this year. Last year too, many individual and corporate tax breaks expired. Relief from the alternative minimum tax that cost $132…

December is the month of looking back at the year, but with the country looking straight ahead at the fiscal cliff, everybody is talking about the coming year. The new year will see the end of many tax breaks, but that is nothing new. The beginning of 2012 also saw the end of many tax…

The end of the year will be marked by talk of increase in taxes. The economy is slowly recovering, and to help it get back to its feet, the government is looking to get money from wherever it can. Although increase in income tax for the rich has not seen the green signal yet, there…

The many tax breaks that American taxpayers had been enjoying for some years now are soon to expire. One of the major tax breaks that will end with 2012 is sales tax deduction, i.e. if it is not renewed. With the economy in trouble, there is little likelihood of the expiring tax breaks to be…

As the new year is approaching, American taxpayers’ worries about the expiry of many tax deductions that they had been enjoying till now is increasing. Shoppers are unhappy that the federal deduction for state and local sales taxes will no longer be there come January. That will mean that after 31st December, 2012, you will…

Habitual shoppers can feel the pinch of losing federal deduction for state and local state taxes. This Christmas, shoppers can enjoy the benefits of the tax break, but starting Jan 1st, 2013, sales tax deduction expires. Worse news is that apart from this deduction, more are in line. Beginning next year, the country will see…

Sandy has done much damage to millions of households. To provide relief to the victims of Sandy, many organizations and the government are donating blankets, cash, food supplies etc. The IRS has also come up with tax help for Sandy victims. Victims of Sandy who come under Presidential Disaster Areas (PDA) can now file their…