Fifty-two percent of Americans think their taxes are too high, but a similar majority think their taxes are fair. On this tax day, Making Sen$e revisits some of our favorite tax conversations to examine how much Americans of different income brackets should be paying. Continue reading
Use our interactive to get an idea of how income and social safety-type taxes are factored into your paycheck, and how you’d fare if the U.S. had a wage tax structure similar to other developed nations.
As millions of Americans race to meet Tuesday’s tax deadline, their chances of getting audited are lower than they have been in years. Continue reading
More than 40 million taxpayers use tax preparers who do not have to meet any standard of competency in order to prepare taxes.
The Volunteer Income Tax Assistance Program is a nationwide organization of tax preparers available to help low-income taxpayers. Last year alone, VITA helped prepare almost one and a half million individual tax returns completely free of charge. Continue reading
Each year about 42 million tax returns are prepared by tax professionals who are unaccredited and unregulated by the IRS. After a plan to regulate them was struck down by a federal court last year, there’s more regulation on hairdressers in most of the country. Critics say this leaves low-income taxpayers particularly vulnerable. But does licensing tax preparers mean tax preparation will improve? Continue reading
The open enrollment period ends March 31, and people continue to have many questions about how the health law and the exchanges work. Continue reading
If you’re uninsured, now’s the time to buy a plan. March 31 is the end of the annual open enrollment period when people who don’t have coverage through their employers can sign up on or off their state’s marketplace. With limited exceptions, people who miss this enrollment window will be unable to sign up for health insurance until next fall for coverage that starts in January 2015. In addition to being uninsured, you will face a penalty for not having coverage. The fine may be bigger than you expect. Here are the details: Continue reading
President Obama’s 2015 budget proposal includes new spending for preschool, job training and public works and would expand the Earned Income Tax Credit for low-wage workers. Judy Woodruff talks to Robert Greenstein from the Center on Budget and Policy Priorities and James Capretta from the Ethics and Public Policy Center about whether measures meant to narrow the economic gap would be effective. Continue reading
Ending the corporate income tax may be the best way to make corporations, and not American workers, bear the tax burden that comes with corporate profits, argues Larry Kotlikoff. Continue reading