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Do You Know When To File A Tax Return?

TweetShareSharePin0 SharesDo You Know When To File A Tax Return? Every year, millions of Americans dread the inevitable; they have to gather all of their receipts and records and get ready to file their Federal Income Tax Returns. When was tax season first initiated? Here, we will take a look at that magic day of

Taxes, Income And Other Ones

TweetShareSharePin0 SharesTaxes, Income And Other Ones The story of American income taxes begins 1812. The 1st attempt to inflict an income tax on Americana occurred as a result of the War of 1812. At the end of two years of war, the federal government owed an unbelievable $100 million of debt (in inflationary terms, it

Should You Pay Taxes Or Not?

TweetShareSharePin0 SharesShould You Pay Taxes Or Not? The first attempt to impose an income tax on America occurred during the War of 1812. After more than two years of war, the federal government owed an unbelievable $100 million of debt. To pay for this, the government doubled the rates of its major source of revenue,

Avoids Tax Increases, Misses Opportunities

TweetShareSharePin0 Shares The Senate has begun deliberations over a bipartisan plan to provide $550 billion in new spending for a wide range of infrastructure projects, including roads, bridges, public transit, broadband, and the electrical grid. The good news is that lawmakers avoided raising taxes to cover the cost of the new spending and instead used

IRS Seeks Panama Offshore Service Documents for Tax Evasion

TweetShareSharePin0 Shares Court Authorizes IRS for Records Relating to Panamanian Offshore Service Court Authorizes IRS for Records Relating to Panamanian Offshore Service Court Authorizes IRS for Records Relating to Panamanian Offshore Service: Just because the debacle that was the Panama Papers was yesterday’s news — does not mean the participants in the alleged scheme are

Public inquiry says Maltese State is ‘responsible for Daphne Caruana Galizia’s death’

TweetShareSharePin0 Shares After a long fight by the family of murdered journalist and anti-corruption champion Daphne Caruana Galizia, their lawyers and supporters, the public inquiry the Maltese government never wanted has now reported on its findings and has made recommendations. As the Daphne Caruana Galizia Foundation explains: The Maltese Government only agreed to establish the

What’s Next For Infrastructure? | Tax Policy Center

TweetShareSharePin0 Shares More work, more questions… and certainty? The Senate will work through amendments to the $1 trillion infrastructure bill that includes $550 billion in new spending. But how might it be paid for? Will economic growth help cover the cost, or revenues collected with increased reporting on cryptocurrencies?  And what will happen in the

Dealing With High Gasoline Prices

TweetShareSharePin0 SharesDealing With High Gasoline Prices The rising gasoline prices has everyone concerned about the future. Of course, with gasoline being the fuel of the most common form of transportation today, who would not be? And since gasoline is still a major fuel used by most cars in the world, there is nothing that can

Research & Development Amortization Changes

TweetShareSharePin0 Shares Starting next year, firms will need to amortize their research and development (R&D) expenses over five years rather than immediately deduct them from taxable income, a policy change designed to raise federal tax revenue in the short term. As policymakers decide on the future of this scheduled tax change, one option would be
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