If your income for 2014 is higher than you estimated, complex connections between the health law and taxes can reduce or eliminate your tax refund next year.» Read More
Who wants to think about taxes around Labor Day? But if you count on your tax refund and you're one of the millions getting tax credits to help pay health insurance premiums under President Barack Obama's law, it's not too early.
The AICPA said it brought its federal lawsuit in the U.S. District Court for the District of Columbia, seeking to block the IRS from moving ahead with its program. "The IRS should withdraw the new rule, consult with stakeholders, and use the tools and data already at its disposal to monitor unethical tax return preparers," Melancon said.
The U.S. Court of Appeals for the District of Columbia ruled in February that the IRS did not have the authority on its own to impose rules on up to 700,000 preparers who are not already licensed as attorneys, accountants or "enrolled agents." The IRS had to mothball its mandatory program and ask Congress for authority to reinstate it.
Jim Cramer says this is a good time to talk taxes. Yes he knows it's June.
Some of Wednesday's midday movers:
*Micron, Amazon rise after analysts' comments. *World Bank cuts global 2014 outlook. Investors expressed caution after the surprising primary election defeat of Eric Cantor, the No. 2 Republican in the House of Representatives, by an upstart candidate from the Tea Party movement.
*World Bank cuts global 2014 outlook. In a cautious note, the World Bank late Tuesday cut its global economic growth forecast for 2014 to 2.8 percent from 3.2 percent due to the impact of the Ukraine crisis and a harsh U.S. winter.
Stocks could continue their quiet march into record territory with few catalysts to force a change in direction before the Fed meets next week.
Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.
The "Fast Money" traders share their final trades of the day.
Jim Cramer says 3 companies are actively unlocking serious value right now.
*JPMorgan falls, Wells Fargo flat after results. NEW YORK, April 11- U.S. stocks were set for a lower open on Friday after earnings from JP Morgan Chase, putting the S&P 500 on track to continue its selloff after suffering its biggest drop in two months.
*VIX, Wall Street's fear index, jumps 15 percent. NEW YORK, April 10- The Nasdaq suffered its biggest drop in two-and-a-half years on Thursday after another sharp selloff in biotech and momentum names, including Gilead Sciences and TripAdvisor, increasing investor anxiety about a broader pullback.
A change in the executive suite at Zynga is among the headlines after the bell Thursday.
NEW YORK, April 10- There are many tax-time nightmares, but here's one of the most common: You don't have the cash to pay what you owe on April 15.
WASHINGTON, April 8- The U.S. Internal Revenue Service asked Congress on Tuesday for legal authority to regulate thousands of unlicensed tax return preparers, but lawmakers were neutral on the idea.
Some of the names on the move ahead of the open.
H&R Block is blaming a delay in the opening of the Internal Revenue Service's e-file system for a huge shortfall in its third-quarter revenue.
Companies making headlines after the bell Thursday:
While the markets are hoping to see a March thaw, reports of February data in the week ahead may show the economy is still feeling a bit chilled.