Tag Archives: tax

Avoiding Common Tax-Filing Mistakes

Every year, millions of people wait until the last few days ahead of the tax-filing deadline (which is April 18 this year) to file their tax return. Although they can file for an extension to get more time, many often rush to complete their returns.

People who rush to complete their tax returns are prone to make more errors. From simple failures to complete all required information to oversights that result in an overpayment of taxes, following are common tax-filing mistakes you should make sure to avoid.

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California Considering Tax for Drivers Based on Mileage Driven

California made headlines earlier this month with the announcement by Toyota that it would move its national headquarters from Torrance, California, to the city of Plano, Texas.  The move by Toyota has increased cries against the state’s anti-business practices, as it takes approximately 3,000 jobs and an estimated $475 million in annual property tax revenue from a state sorely in need of additional income.

The state is again in the news related to automobiles.  However, in this case, the headlines are not related to California’s unfriendly business policies that sent Toyota packing.  Rather, the news concerns state legislators who are considering a measure to tax drivers for every mile they drive.

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IRS Preparing to Keep over $750 Million in Unclaimed Tax Refunds

Today is tax day, the day when millions of individuals are finally getting their federal income tax returns filed so that they can claim their tax refunds.  Although many late tax filers delay completing their returns until the last minute because they want to put off paying money they owe to the IRS, there are many others due to receive a refund who wait simply because they are too busy to get their tax return filed.

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