September 20, 2013
Almost two years ago the IRS Commissioner Douglas Shulman came forward with a plan to revamp the IRS tax filing system in a way that would help prevent tax fraud and reduce costly errors. He called his vision, the real-time tax initiative.
September 17, 2013
On April 9, Senator Bill Nelson (D-FL) sponsored the Identity Theft and Tax Fraud Prevention Act of 2013, which aims to mitigate tax fraud in seven ways.Improve...
September 11, 2013
If you have watched Ocean's Eleven (2001), you already know that stealing money from a casino is easy. The biggest problem is how to make it out of the building with the money and your life, intact. The same is true of identity theft and...
September 6, 2013
As we increasingly rely on E-filing tax returns, we increase the efficiency of IRS operations and our convenience. We also strip away some crucial layers of...
August 14, 2013
Also known as "sin" taxes, excise taxes are instruments the government uses to skew consumer behavior away from damaging goods, and toward beneficial products. Alcohol, gas and tobacco products are some of the most heavily taxed goods out there....
July 19, 2013
You may have noticed a bigger bite out of your paycheck since January 2013.
The monster responsible is payroll taxes. That is because politicians allowed the...
July 15, 2013
Modified adjusted gross income (MAGI) can qualify you for a number of credits, benefits and exclusions, which makes it important to calculate for tax purposes.
In 2013, the calculation will be extremely important for students who are...
July 10, 2013
Financial pressure in Congress has caused substantial changes in federal taxation. Here is a list of those changes, sectioned off by who the changes will most likely affect.Everyone
Medical and dental expenses: You can only...
July 3, 2013
The IRS may be ridiculed, and it may be railed on. But it is still one of the most effective collection agencies in the world.
In 2011, the agency claims to have processed 234 million Federal returns (including supplemental documentation)....
July 1, 2013
Estimated taxes are simple … in theory.
For salaried employees, estimated tax payments would be fairly simple to calculate, but many small businesses and self-employed persons in the United States can have...