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More taxes for an average taxpayer is fair if taxes are being paid by businesses and the wealthy alike, but many times those who can afford fancy accounting tricks can often dodge their full tax liability. Call it ‘loopholes’ in the tax code that helps big businesses avoid their tax duty without repercussions, the reality... Continue reading →

Tax increases are inevitable, but an increase in taxes is not justified if there is no equivalent increase in income. American taxpayers are being burdened with more taxes because the U.S. needs to overcome its fiscal deficit.Excessive and unintelligent spending by government can result in the waste of existing resources. Some tax revenue brought in... Continue reading →

The tax filing season has arrived and taxpayers are busy calculating their taxes and refund, and preparing their tax returns. Since U.S. tax laws are complex, most taxpayers hire tax preparers to file their taxes, but there are taxpayers who do not have the financial ability to hire a tax preparer. For them, the IRS... Continue reading →

During tax season, many taxpayers are surprised to discover that their tax returns have already been filed. Identity theft is a crime that can easily be carried out electronically. Many tax thieves steal the identity of taxpayers online through I.D. phishing and file false tax returns through IRS e-filing and get big money in refunds... Continue reading →

Identity theft is rising when it should be decreasing. The IRS and various law enforcement agencies claim to bust tax scams every year, but judging from the rising figures of tax theft, there still is more to be done.The ease of the crime, the distance between the victim and the criminal, and the essentially non-violent... Continue reading →

Back taxes scare most people. When taxpayers find that they are unable to pay the entire tax debt, many postpone making any payment, which can lead to an IRS lien or levy. The IRS looks to collect the entire back taxes, but when if it cannot, it will negotiate the other options available.IRS payment plans,... Continue reading →

The non-payment of back taxes can lead to trouble. In many cases the IRS discovers the tax debt, but by then the amount of tax debt has grown because of interest, and becomes difficult to pay in full. That is why early resolution of back taxes is beneficial.The IRS recently discovered that Don Marsh, of... Continue reading →

It is a misconception that taxpayers who do not have the money to pay their tax debt in full cannot get out of the debt. Considering the various financial capabilities of taxpayers, the IRS has different tax debt resolution plans to resolve back taxes, namely an Installment Agreement, Currently Not Collectible, an Offer in Compromise... Continue reading →

Tax debt is a pain, but the good news is that it can be relieved. Paying back tax debt comfortably is possible if taxpayers have the right information and the right help.Although smaller tax debt amounts can be paid in full affordably, large tax debts usually cannot, and taxpayers should look for tax debt relief,... Continue reading →

The tax system of a state directly affects how much tax its individuals and businesses pay. In response to the level of taxes a state levies, individual taxpayers and businesses decide whether to stay and/or invest in that particular state or move to a state with lower taxes. In Illinois in the last decade, then... Continue reading →