Tag Archives: Taxes

Why Procrastinating With Your Tax Return Could Cost You

by Jonnelle Marte, Washington Post

George Thomas / Flickr

“It’s even more important this year to file early,” says Melissa Labant director of tax advocacy for the American Institute of CPAs. “The later [people] wait, the more they increase the chances of having a criminal file on their behalf.” Take a look at what happened last year. On Feb. 5, Intuit, the maker of TurboTax, temporarily stopped processing state tax returns after noticing a surge in suspicious filings. Some states later reported that fraudulent activity had multiplied by nearly 40 times — and it was only a little more than two weeks into the filing season. Read More ›

California’s Four Largest Health Plans Could Owe State $10 Billion In Back Taxes

by Tracy Seipel, San Jose Mercury News

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Blue Shield and Blue Cross already lost a key round in a state appellate court. The case against Kaiser and Health Net heads to a Los Angeles court Friday. At the heart of the debate is a century-old section in the state constitution that requires almost all insurers to pay a 2.35 percent tax on the premiums they collect each year. The tax is paid in lieu of almost all other state taxes. Yet for decades, industry critics say, Kaiser, Blue Cross, Blue Shield and Health Net have managed to avoid paying the premium tax on the majority of their business. Read More ›