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  • Total Returns: 10,995,576Returns With Income Tax Liability: 6,760,829Returns With No Income Tax Liability: 4,234,747Nonpayers: 38.5%According to Kasprak, Texas doesn’t rank very high in terms of the factors that contribute to high populations of nonpayers. It is, however, second in the nation in terms of recipients receiving refundable child tax credits.“This indicates a higher-than-normal percentage of low-income people choosing to have children,” he said. “So that is likely a big part of the n

    Mitt Romney said "There are 47 percent of the people who pay no income tax." Who are these people, and why are they exempt? Click to see which states have the highest number of people who pay no federal income tax.

  • Paul Ryan

    My worst fears about Paul Ryan were borne out in Wednesday night's speech.

  • The mean amount of time spent commuting by U.S. workers is 23.8 minutes, according to a from the Census Bureau. At first glance, that doesn’t seem so bad. It’s enough time to hear the weather report, drink some coffee and listen to “Free Bird” on the radio. But that figure also signifies that the average U.S. worker is in a car for almost four hours a week. That’s 45 minutes longer than it takes to watch “Titanic.”With that kind of time on the road a regular fixture in commuters’ lives, the car

    Kelley Blue Book has provided CNBC.com with its list of 10 cars that are the best for commuting. Check out the list.

  • President Barack Obama speaking on the "Buffett Rule" in Boca Raton, FL.

    President Obama must be paying the least amount of taxes possible, as he has access to such talented people, right? Wrong. Even without a thorough analysis, we see there are some huge ways to reduce what the Obamas are paying in taxes.

  • IRS Form 1040

    Here are some things to check or consider if you still have the good old "1040 Form" on your to-do list, the Christian Science Monitor reports.

  • Mitt Romney speaks during a town hall meeting campaign stop at Eagle Manufacturing Corporation February 21, 2012 in Shelby Township, Michigan.

    GOP Candidate Mitt Romney wants to cut the top income tax for individuals to 28 percent, down from his earlier plan to preserve the 35 percent rate.

  • Cash Register

    One has to cut when one can’t borrow any more. But that still hasn’t stopped the various interested parties and think-tanks on both sides of the Atlantic from arguing on whether this is the optimum approach or not.

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    By knowing exactly what cash you have coming in and going out and when those transfers occur, you ensure you have enough cash to continue operating from day to day. At its most basic level, cash-flow forecasting helps a business survive.

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    Amid the wailing and gnashing of teeth that are governments’ attempts to confirm the long-term viability of the euro project, we are also witnessing an attempt to introduce a financial transactions tax (FTT) or “Tobin Tax” in the European Union.

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    The IRS audited one in eight millionaires who filed taxes last year while only auditing 1 in 100 individuals earning less than $200,000 in an effort to "assure that there's equity in the system."

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    Prosecutors accused three Swiss bankers on Tuesday of conspiring with wealthy U.S. taxpayers to hide more than $1.2 billion in assets from tax authorities, and sources briefed on the matter said the three worked for Wegelin & Co, one of Switzerland's oldest private banks.

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    The stock market’s rebound from the financial crisis three years ago has created a potential windfall for hundreds of executives who were granted unusually large packages of stock options shortly after the market collapsed. The New York Times reports.

  • Payroll Tax Battle

    The battle over extending a payroll tax cut and employment benefits continues. Details on how a bi-partisan compromise can be made, with Jared Bernstein, former chief economist/economic policy adviser to Vice-Pres. Biden, and former Sen. Judd Gregg (R-NH).

  • Tax Credits: Money for Nothing?

    CNBC's Bertha Coombs has details of a shocking new study that shows just how little taxpayers are getting in return for corporate tax credits and economic development subsidies.

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    The IRS audits a higher percentage of businesses with assets below $50 million than businesses above that level, according to data from Syracuse University. With 2012 fast approaching, now’s a good time for small businesses to consider an end-of-year legal review to pinpoint and improve areas of potential risk, according to online legal-help company Rocket Lawyer.

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    With 401(k)s, IRAs, Roth IRAs, and Social Security benefits, seniors have plenty to figure out when it comes to paying Uncle Sam.

  • US Capitol Building

    Congress is battling over whether to extend the payroll tax cuts passed last year. Here's how to use currencies to trade the debate.

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    While Senate Democrats this week offer a new compromise  on U.S. tax cuts including an extension of the payroll tax cut, broader tax reform remains unresolved heading into next year’s presidential election. Small businesses especially have a lot at stake.

  • Taxes, Investments, & You - A CNBC Special Report - Sponsored by Merrill Lynch

    Few, if any, politicians like to raise taxes, and those who do often pay dearly for it.  Raising taxes, however, is sometimes a necessity evil, because there is simly no other way to increase revenue or reduce a deficit. What do you think?

  • Harrisburg, PA

    Worries about municipal bond issue defaults have been overblown, obscuring the investment advantages of a once trusted debt instrument.