Federal Income Tax

By complaining that state and federal tax hikes are forcing him to make "drastic changes," Phil Mickelson quickly became the poster boy for conservatives and liberals alike. The former said Mickelson epitomizes what happens when lawmakers try to fix their...

I am 68, my wife is 66, and we've never been audited. I'm still working at my salaried job, my wife is drawing a small pension, and our combined income is about $90,000. I've often wondered, just what are the chances of our being audited? P.T., South...

For the first time since a recession gripped the country in 2008, Maryland is approaching a General Assembly session with good fiscal news: Neither tax increases nor drastic budget cuts are likely to be needed to balance the budget. The improved forecast...

For better or worse, Marylanders may be more affected by the fiscal cliff tax deal than residents in other parts of the country. Maryland is one of the wealthiest states, and its residents have the nation's highest median income. That means they likely...

Regardless of whether the president and Congress strike a deal or take the nation headfirst over the "fiscal cliff," federal taxes for some Marylanders will increase next year — and under some scenarios the pain could be worse than in other states....

WASHINGTON — The House gave final approval Tuesday night to a bill to rescind tax increases for the vast majority of Americans, but only after a day of closed-door debate among Republicans, who were forced to allow a vote on a compromise many in...

The Kentucky General Assembly will begin the first part of the 2013 30-day session Jan. 8, and Sen. R.J. Palmer, D-28, said tax reform, the possible legalization of hemp and school safety could all be targeted by legislators. “I have discussed...

JEFFERSON CITY, Mo. (AP) — A plunge over the federal "fiscal cliff" may sound like a terrifying risk for many state officials anxiously watching as Washington struggles to avert automatic tax hikes and spending cuts set to start with the new year....

Close your eyes in Washington these days and you can almost hear the echoes of 1932. Eighty years ago, just like today, a fiscal crisis almost totally dominated the nation's capital. Then, as now, fiscal conservatives demanded immediate action to fix...

In a classic "Seinfeld" episode, the ever-hapless George Costanza decides it's time to change his strategy. "Every decision that I've ever made in my entire life has been wrong. My life is the complete opposite of everything I've wanted to be." His...

The Washington County Department of Social Services is assisting in a promotional campaign called “Your Money. You Earned It. Now Claim It!” to encourage eligible Washington County residents to claim their earned income credit and child tax...

Agricultural producers should do tax planning before the end of the year based on the information known at this time. Traditionally, producers try to do tax planning to limit their tax liability. With uncertainty in Congress, tax rates may be higher in...