Tax Resource Center

Income taxes fund government services. Your employer withholds taxes from your wages and pays the government on your behalf.

At TurboTax we help you avoid the hassle of an audit.

If you don't pay your taxes when they're due, the debt doesn't go away. It may even grow as it accumulates interest and penalties each month it remains unpaid. The IRS will continue to attempt collection of the tax you owe, but it may be willing to waive or reduce the penalty charges if you can show you have a good reason.

The Internal Revenue Code is lengthy and complex, which can sometimes mean that your personal income tax return will be riddled with errors and omissions. The IRS allows you to voluntarily correct the mistakes you later discover by filing an amended tax return. However, you have to adhere to all eligibility criteria before filing the amendment.

A tax schedule is a form the IRS requires you to prepare in addition to your tax return when you have certain types of income or deductions. These commonly include things like significant amounts of interest income, mortgage interest or charitable contributions. Generally, the totals you compute on these schedules are transferred to your Form 1040. When you qualify to complete a simpler tax form, such as the Form 1040EZ, then additional schedules are not required.

Marijuana still remains illegal under U.S. law unless we're talking about legalization of medical dispensaries at the state level, however on November 6 the states of Washington, Colorado, and Oregon will take legalization for non-medicinal purposes to vote. With elections days away, there has been debate over how much state tax revenue these initiatives will generate. Check out our interactive that visualizes 17 of the already legal medical marijuana states. Full story

Today it was announced that the IRS is giving relief to those who file payroll and excise tax returns and make payments normally due on Wednesday. Find out more. Full story

Hurricane Sandy and other natural disasters can be devastating for the individuals impacted. You can never replace the personal items lost, but the IRS offers some relief. Jim Wang tells us how to claim a casualty loss when the unexpected happens. Full story

As Hurricane Sandy ravaged the East Coast, we can only hope for everyone's safety. If a natural disaster like Hurricane Sandy impacts you, do you know how to safeguard your records or how to retrieve them? Here are 4 easy steps to help you in the event of a natural disaster. Full story

The average cost of dog and cat care can reach at least $100 thousand dollars over their lifetime, so next time you wonder "How much is that doggie or kitty in the window?", consider all the costs. We thought it would be eye-opening to visualize the estimated minimum costs of dogs vs. cats. Full story