March 15, 2013 |
What would a tax season be without confusion and last-minute changes? First up, a lot of H&R Block customers are irate about a glitch that will delay their federal tax refunds by weeks. For days, H&R customers complained on Facebook that they weren't getting a clear explanation as to why their refunds were delayed. As it turns out, there was a problem with returns that included Form 8863, which is used to claim two higher education credits — the American Opportunity Tax Credit and the Lifetime Learning Credit.
March 9, 2013 |
Many taxpayers think that getting a federal refund is a big deal. They look forward to it all year. It's the largest lump sum lots of people receive, according to the American Tax and Financial Center at TurboTax, the tax software company. Last year, the average federal tax refund was about $2,800, about $100 less than in 2011, according to the Internal Revenue Service. In 2010, the average refund was about $3,000. Typically, you pay your federal taxes by having a portion withheld from your pay. If too much is...
January 11, 2013 |
District insurance regulators are seeking a $2.8 million payment from city businessman Jeffrey E. Thompson, alleging that his health insurance company did not receive an income tax refund to which it was entitled. That company, D.C. Chartered Health Plan, has been under the District's control since October, following reports of financial weakness and accounting irregularities . Regulators are seeking the payment after an independent audit completed this week...
October 19, 2012 |
D.C. employees were able to change dates and override internal controls on computerized tax records, approving a tax refund in one case after a three-year filing deadline had passed, according to a previously undisclosed internal report that describes a fresh round of problems in the city's embattled Office of Tax and Revenue. That report and two others were obtained by The Washington Post this week through a public-records request just days after the D.C. Council unanimously...
April 16, 2012 |
It's a classic story: You got your W-2 forms way back in February, got your papers in order to file your taxes and then called it a day. Suddenly it's mid-April and you realize you never took the last step — to file. There's some good news. For one, tax day wasn't April 15 this year, it's been moved to April 17. That's thanks to some fortuitous calendar coincidences, as the traditional tax day fell on Sunday this year, followed by the D.C. holiday, Emancipation Day. If you haven't prepared your...
April 10, 2012 |
I finally did it. I cleaned out my closet. It felt good to get rid of clothes I haven't worn in years or that no longer fit. It took much longer than I expected, mostly because I just couldn't let go of many things. And isn't this much the way many of us handle our personal finances? We cling to old financial behaviors or we put off cleaning up our financial lives because it's easier than doing the work it takes to get rid of stuff. Here are my five tips to get you started on spring cleaning your finances: ...