Because taxes can significantly impact the economy by changing the cash flow available to both individuals and businesses, a presidential candidate's view on taxes has become an increasingly hot topic during the past several election seasons. Each presidential candidate's view on tax policy is different. Some candidates weigh ... Read More
Tax Opinion
Ever Hear of the Inflation Tax – Your Taxes Could be Raised Indirectly
There is little doubt that we are a country in trouble, despite the fact that the government may try to convince us otherwise. American consumers are finally waking up and realizing that we must pay closer attention to what is happening in our country. After seeing retirement and savings accounts almost wiped out in recent years ... Read More
2010 is the Year to Die: Understanding Changes to the Estate Tax
If you got a lot of cash, this may be your year to kick the bucket. 2010 is a year in which Congress has permitted the estate tax to slip which means heirs to a fortune will be receiving their inheritance without having to pay the government. This is the first time in nearly 100 years that the estate tax has lapsed. When owner ... Read More
Healthcare Bill Disaster: Send 1099s to Everyone
The IRS 1099-Misc form has always been used to track payments made from one company to either an individual or another company that are not salary-based. If you hire someone to design a website, it's a one time payment. If that payment is more than $600, then you issue that person a 1099-Misc form, and send one to the IRS, so ... Read More
Having Trouble Paying Your Installment Agreement with the IRS?
So, you've entered into an installment agreement with the IRS and now realize that you are unable to pay, what do you do? First off, don't panic or become discouraged- the economy is extremely volatile and tough economic situations are understandable- even to the IRS. Take a moment to consider your situation, and how you arrived ... Read More
Why the State Corporate Income Tax Should be Eliminated
Ronald Reagan once proposed eliminating the federal corporate income tax. That was in 1983 and the same issue has been brought back to the table; however it doesn’t seem like too many people are taking notice. What is the Deal With the Corporate Tax? Under the current tax regulations, corporate earnings are being taxed twice. ... Read More
How the FTC Wants To Tax and Subsidize Journalism
Journalism is not what it used to be and the Federal Trade Commission is exploring ways to reinvent the craft. The FTC proposed that the US government should be the hub of a media overhaul but some are worried it is not the right course of action. Concern now is that the Internet has changed the way things are being done. The ... Read More
Increasing Rate of IRS Threats Spurred by Plane Crash?
Last year threats on the IRS have increased and in the past few weeks the IRS has been receiving threats at an increasing rate. The National Treasury Employees Union seems to believe that the threats are increasing because of the actions taken by Joseph Stack, the man who flew his plane into the IRS building last month which ... Read More
IRS Wants Quotes for Remington Model 870 Shotguns
Have you ever wondered how much power the IRS actually has? The fact that the IRS is requesting quotes to buy sixty 12 gauge pump action shot guns for their Criminal Investigation Division should tell you how much power they have. Do they really need shotguns to enforce taxes? I can understand police using guns to protect ... Read More
Use Tax Experts Instead of a Liability Settlement Firm for Tax Problems
With liability becoming a large problem not only for individuals, and businesses there has been a proliferation of liability management and liability settlement companies promising to reduce your liabilities by saving you thousands in interest and penalties. Moreover, many are even claiming to be tax experts or IRS tax ... Read More