Tax

What happens after you miss a tax deadline?

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The consequences of missing a tax deadline differ depending on whether you missed the filing or payment deadline. Sakchai Vongsasiripat/Getty Images Every year, millions of Americans miss tax deadlines, whether they’re filing late, paying late or both. For some, it’s a matter of limited cash flow. For others, it’s confusion around changing tax rules or … Read more

As fuel prices rise, US lawmakers push to suspend the federal gas tax

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WASHINGTON — As the war in Iran pushes U.S. gas prices toward $4 a gallon nationally, some lawmakers are pushing to suspend the federal gasoline tax in the latest attempt to try to control surging energy costs. Lawmakers say the action would provide much-needed relief for families and businesses that rely on their cars and … Read more

When a medical crisis leads to tax debt: Relief programs that can help

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A medical crisis is less likely to cause a permanent tax problem if you know what help is available to you. Boonchai Wedmakawand/Getty Images Medical emergencies don’t just disrupt your health. They can also upend your finances in ways that can linger long after treatment ends. Between the lost income and unexpected out-of-pocket costs, it’s … Read more

When you should call a tax relief professional — and when you shouldn’t

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Hiring a tax relief professional can be a smart move, but only when your situation calls for it. William_Potter/Getty Images With the tax filing deadline just weeks away, many taxpayers are now submitting last year’s federal tax information to the Internal Revenue Service (IRS). In turn, millions of Americans will soon have a clearer picture … Read more

Mamdani’s estate tax plan could drive wealth out of state, critics warn

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NEWYou can now listen to Fox News articles! New York City Mayor Zohran Mamdani is under fire for backing a plan that would slash New York’s estate tax exemption by nearly 90%, a move opponents say could drag middle-class families into a tax burden long aimed at the rich. New York is one of the … Read more

Newsom’s claim Texas and Florida are the ‘real high tax states’ picked apart by expert: ‘Fatally flawed’

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NEWYou can now listen to Fox News articles! California Gov. Gavin Newsom’s repeated claims in recent weeks promoting his state as more tax-friendly than Florida and Texas don’t add up, according to an expert who ran the numbers. “Texas and Florida are the REAL high-tax states,” Newsom recently posted on X, explaining onstage at SXSW in … Read more

Trump touted bigger tax refunds this year, but Americans will likely spend them on gas

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WASHINGTON — The U.S. economy was supposed to start the year with a bang, fueled by an unusually large jump in tax refunds from President Donald Trump’s tax cut legislation. Yet spiking gas prices are on track to eat up those refunds, leaving most Americans with little extra to spend. “Next spring is projected to … Read more