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With the calendar cycling over to March, taxpayers are left with just a hair over six weeks to do their taxes, or file for an extension, in 2014.
Tax season is a dreaded time of the year for many of us simply given the amount of time and effort that must be put in to complete our taxes – from mind-numbing calculations to the always fun receipt hunting. Yet, for all our squabbling about how much we dislike doing our taxes, more than four out of every five tax filers will receive a refund!
Last year the Internal Revenue Service collected over $2.5 trillion in revenue during tax season -- but have you ever really stopped to think where all of that tax revenue ends up? A report from The National Priorities Project helps answer this age-old question of where your tax dollars get spent. Simply click on the following slideshow for your pictorial and educational view of how your tax dollars get apportioned.
Is Uncle Sam about to claim 40% of your hard-earned assets?
Thanks to a 2013 law called the American Taxpayer Relief Act, or ATRA, he can, and will, if you aren't properly prepared.
Fortunately, The Motley Fool recently uncovered an arsenal of little-known loopholes to protect yourself from ATRA and help keep the taxman at bay when he inevitably comes calling. We reveal them all in a brand-new special report. Simply click the following link below for instant, 100% free access.