Blogs

There are many individual tax breaks that cost the government billions of dollars each year in lost potential revenue. Tax breaks for individuals add more than a trillion dollars annually to government expenditures. To reduce government deficit, some believe that many of the tax breaks should be removed. Experts, on the other hand, state that... Continue reading →

It is a misconception that corporations get most out of tax breaks. It is individual taxpayers that enjoy the benefits of tax breaks the most. The government keeps an account of tax preferences, which tracks the value of individual tax breaks.Individual taxpayers receive many tax credits, deductions, exemptions, premiums and tax loopholes, including tax exempted... Continue reading →

There are many myths surrounding tax debt, including the belief that anyone can get a tax debt reduction. Many fraudulent tax companies misuse tax debt reduction payment plans, such as the Offer in Compromise program to attract taxpayers into hiring their services. Before applying for a tax debt resolution plan, taxpayers should consult with a... Continue reading →

A tax debt resolution is simple to achieve using the right tools. Tax resolution companies are a medium where taxpayers can confront the IRS, negotiate with them, and reach a satisfactory resolution.Tax debt resolution requires the knowledge and understanding of tax laws, tax codes and IRS policies, which few taxpayers have, making it essential that... Continue reading →

The Supreme Court’s decision to strike down Defense of Marriage Act (DOMA) allows same-sex married couple to enjoy the tax benefits of marriage regardless if the state they reside in recognizes their marriage. Same-sex spouses can now file their tax returns jointly as a married couple.However, same-sex couples may face an increase or decrease in... Continue reading →

After the Supreme Court’s landmark decision to strike down the Defense of Marriage Act, speculations flew about how the IRS will determine the tax rights of married gay couples. The IRS finally declared that from now on same-sex couples will receive the same tax benefits as their straight counterparts regardless of the state they live... Continue reading →

Tax debt must be resolved early to avoid the accumulation of IRS penalties and interest, as well as to avoid aggressive collection actions by the IRS. It is important for taxpayers to know that they can resolve their tax debt even if they cannot pay the entire amount of the debt. The IRS has various... Continue reading →

The most common IRS payment plan is an Installment Agreement. This tax debt payment plan is widely popular due to most taxpayers being eligible for one of its various types.  Under this payment plan, taxpayers can pay their debt amount in fixed monthly payments in order to fulfill their tax debt amount. The IRS charges... Continue reading →

President Obama is slowly gaining more support for strikes in Syria, but it will only be after the support of Congress that he will be able to lead the U.S. in an intervention in Syria. Amidst the talk of saving Syria on humanitarian grounds, American taxpayers have been forgotten.The “limited” strike might cost the country... Continue reading →

If the U.S. decides to use its military force in Syria, it will cost American taxpayers billions. Indications have been made that the U.S. might launch cruise missiles in Syria, with the cost of each missile around $1.1 million.President Obama proposed that the U.S. must intervene in Syria on humanitarian grounds, but do the American... Continue reading →