Segments From this episode
Last year, the government audited more than 1.5 million individual tax returns, an increase of 11 percent over the previous year. So just how bad is the audit experience?
Tess Vigeland talks to Kimberly Palmer, senior editor and columnist for US News and World Report. She says that refunds are not only good, but something you should have fun with.
What's the best tax return you've ever received? In the hundreds, maybe the low thousands? What if your tax return was more like $50,000! Tess talks to a couple who got the most unexpected call from their tax accountant.
Every so often, with some regularity, politicians get in trouble for failing to pay their taxes. So, why does it seem politicians make mistakes most of the rest of us don't?
Marketplace Money host Tess Vigeland and tax expert Frank Degen answer a tax question about how to categorize gifts that your employer gives you, and explain what minimis fringe benefits are.
Marketplace Money for Friday, April 8, 2011