Tax Laws

Most taxpayers believe that if they cannot pay their IRS debt, they cannot resolve it. It is a myth that leads to many taxpayers facing tax liens and tax levies. Therefore, it is essential for taxpayers to know that the IRS provides them with various options to satisfy their tax debt. The IRS has payment…

Taxpayers who have tax debt want to reduce their tax liability and avoid IRS collection actions. Most taxpayers who are under tax debt want to resolve their tax debt, but they do not have the money to pay their entire tax debt. However, they do not necessarily need to pay back the entire IRS back…

To collect more revenue and improve compliance, the government is focusing on introducing new tax laws and altering old ones.  The beginning of 2013 brought many of these tax changes, and the trend seems to be continuing with a proposed Internet sales tax bill. Apart from the new tax on investment income and Medicare taxes,…

Online retailers were eagerly waiting for May 6th because the U.S. Senate was likely to pass a proposed bill that would require online retailers to charge sales tax outside their physical borders. On Monday, the Senate passed the bill, making the bill that much closer to becoming law. Currently, online retailers only collect sales tax…

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…

With the Foreign Account Tax Compliance Act (FATCA) and Offshore Voluntary Disclosure Program (OVDP) under its belt, the IRS is seriously battling tax evasion and using soft and aggressive tactics to increase tax compliance. Tax evasion by hiding money in overseas accounts is widespread. It has been listed fourth in IRS’ 2013 Dirty Dozen Tax…

The U.S. Treasury loses billion of dollars to tax evasion annually. Many individuals, businesses, and organizations hide their income overseas to avoid paying taxes on it. Tax evasion by keeping assets hidden overseas is the most common method used by taxpayers. Tax frauds also use fake organizations to dupe taxpayers into hiding income in tax…

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…