Taxes

4:58pm

Tue April 10, 2012
Shots - Health Blog

Panel Proposes A New Tax To Pay For Public Health

It may sound counterintuitive, but a panel of experts from the Institute of Medicine has concluded that the best way to slow the nation's breakneck spending on medical care is to impose a tax on every health care transaction.

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1:36am

Mon April 9, 2012
Your Money

What Do You Owe In Taxes? Depends Who's Counting

Originally published on Wed May 2, 2012 10:58 am

Which tax preparation service is best? That's what writer Joel Stein hoped to find out when he took his 2011 income data to different firms — including an H&R Block office, seen here in a file photo from last year's tax season.
Justin Sullivan Getty Images

In 2012, the federal tax return deadline is Tuesday, April 17 — so if you haven't already filed your income tax return, you have about one week left to shop around for different options to finish your taxes, or request an extension.

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2:02am

Mon April 2, 2012
All Tech Considered

You Should Keep Tax Records — But How, And For How Long?

Originally published on Mon April 2, 2012 8:01 am

A pile of IRS Form 1040 tax documents is seen in this file photo. Personal finance experts recommend keeping most records for three years after they're used in a tax return.
Tim Boyle Getty Images

Tax Day 2012 is looming — and after we file our returns, many of us will try to figure out what to do with the seemingly innocuous but possibly crucial documents we use to prepare our returns. Filing electronically can make those records easier to manage. But what should we really keep, and for how long?

Most experts recommend holding on to financial records for three years after they're used in a tax return — that's the amount of time the IRS has to audit taxpayers.

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1:46am

Thu March 29, 2012
It's All Politics

Romney's Support For Ryan Budget Has Democrats Crying Foul

Republican presidential candidate Mitt Romney speaks in San Diego on Monday. Democrats have criticized his support for GOP Rep. Paul Ryan's budget plan.
Steven Senne AP

The U.S. House of Representatives is scheduled to vote Thursday on what's known as the Ryan budget, the spending plan from Budget Committee Chairman Paul Ryan, R-Wis., that among other things changes the structure of Medicare and rewrites the tax code. Presidential candidate Mitt Romney has endorsed the plan, but some are saying his rhetoric on the campaign trail may not match up with at least one reality of the Ryan budget.

Romney said he supported the Ryan budget the day it was unveiled.

"I applaud it," he said. "It's an excellent piece of work, and very much needed."

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2:56am

Thu March 22, 2012
Planet Money

From Abe Lincoln To Donald Duck: History Of The Income Tax

Originally published on Fri March 23, 2012 7:02 am

U.S. Treasury Department/Walt Disney

The story of how the U.S. wound up with the income tax is the story of two wars, a Supreme Court justice on his death bed, and Donald Duck.

It's also the story of how the government overcame three obstacles.

Obstacle No. 1: Logistics

How do you make sure people pay?

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