Tax Laws

Up to this point, online users usually did not pay sales tax on purchases made online. That was because current U.S. tax laws do not require online retailers to charge sales tax from customers who were not located where they had a physical store. This will change if a bill regarding online tax sales passes…

Back tax relief is not complicated; it becomes complicated when taxpayers apply for the wrong debt payment plan, sometimes because of bad tax advice from professionals. Many taxpayers fall victim to the rosy dreams fraudulent tax services sell them to pocket high fees.Believing a tax service will get the IRS to reduce their tax debt…

Taxpayers, along with the IRS and politicians, are calling for the tax code to be simplified. According to a study published by the Joint Committee on Taxation, the tax code had 1,395,000 words in the tax code in 2001. A tax research organization in 2005 found the number of words in the tax code to…

Every taxpayer knows that the U.S. tax code is complex. Hours spent in understanding the tax laws and codes every year when filing taxes are difficult to forget. Therefore, most taxpayers use the services of tax preparers to prepare their taxes. The U.S. has up to 1.2 million tax preparers, much more than the number…

The complexity of the tax code is felt during the tax filing season. Democrats and Republicans both agree that the U.S. tax code needs to be simplified. The resolve is present, but the pressing question is how?Both the parties share the common goal, but have different paths to reach it. House Republicans and Senate Democrats…

Most taxpayers on popular social networking sites, such as Facebook and Twitter, share their activities, thoughts, and information with their friends. Sometimes, taxpayers share sensitive tax information, including their refund amount, or the particulars of their debt on social networking sites. If their privacy settings are set to public and a taxpayer owes the IRS,…

Billions of dollars in taxes are lost every year because of tax evasion. Even though tax evasion is present among individual taxpayers, it is the wealthy that abuse the system and hide their income in overseas accounts or tax havens.To curb tax evasion, the U.S. government introduced FATCA, the Foreign Account Tax and Compliance Act….

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…

You pay more or less in taxes depending on which U.S. state you live in. This is because every state has its own tax code and tax system. The four main taxes that determine how much individuals and businesses pay in state taxes are the corporate tax, individual income tax, sales tax, and unemployment insurance…

Every taxpayer is required to pay federal taxes, but not everyone with the same income is paying the same taxes. A major factor in paying higher or lower taxes depends on which state you live in. New York has the highest taxes in United States and Wyoming has the lowest. Alaska and Florida have no…