You are required to file a federal income tax return if your income is above a certain level, which varies depending on your filing status, age and the type of income you receive. However, the Internal Revenue Service reminds taxpayers that some people should file even if they aren’t required to because they may get a refund if they had taxes withheld or they may qualify for refundable credits.
A nonpartisan Congressional Research Service (CRS) study on income inequality reaffirmed the growing sense that the rich get richer and the poor get poorer.
UNION — Career counselor Christopher Cofone will present a workshop at the Union Public Library on Saturday, Jan. 21, at 11 a.m.
UNION — SCORE (Service Corps of Retired Executives) will present a series of three seminars to provide free business counseling to small businesses and people who want to start their own business.
The income tax filing season has begun and important tax documents should be arriving in your mailbox. Even though your return is not due until April, you can make tax time easier on yourself with an early start. Here are the Internal Revenue Service’s top 10 tips to ensure a smooth tax-filing process.
STATE – Over the past four years, AAA has recorded a steady increase in the average age of vehicles needing emergency roadside assistance. In 2008, the typical age of a vehicle needing roadside service was 6 years old. Today, that number has quickly grown to 9 years.
WASHINGTON, D.C. – The U.S. Department of the Treasury no longer offers paper U.S. Savings Bonds; the savings bond program went electronic after Dec. 31 – a move that is expected to save taxpayers $120 million over five years.
STATE – The start of 2012 ushered in higher tolls on the New Jersey Turnpike and the Garden State Parkway, but that’s just part of the bad news for local commuters.
College costs are out of control. Total outstanding student loans hover around $1 trillion, second only to home mortgages. Student loan repayment takes a hefty toll on starting salaries even during good economic times. But with so many recent graduates unable to find a decent job – or any job – repayment can be a nightmare.
Todd Dagres, a prominent venture capitalist and independent movie producer, earned $3.5 million in 2003, and paid not a cent in federal income tax.