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TAX LAW NEWS - TAX LITIGATION
From the category archives:
Nontaxable Interest
Interest earned on bonds issued by a state, territory, municipality or any political subdivision is free from federal taxes. These are generically called municipal bonds, and their tax benefit increases in value as your marginal tax rate goes higher. (In other words, the bonds are worth more to you as your overall income rises.)
Assume [...]
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Hard Money is the Informal term referring to contributions to political campaigns, committees and parties that are regulated by federal election law, limited in scope, and subject to public disclosure. Individuals are permitted to contribute a maximum of $2,000 to a federal candidate per election, $5,000 to a political action committee per year, and up [...]
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The Internal Revenue Service is adept at using leverage to intimidate, coerce and bluff taxpayers and their representatives into adverse collection and examination determinations based upon weak legal authority and incomplete or insufficient facts. The IRS will “roll-over” taxpayers and weal representatives who are not familiar with taxpayer rights and lack of knowledge about the [...]
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Canadians who file their income-tax returns electronically are more likely to cheat, a newly released report suggests. An internal analysis by the Canada Revenue Agency found individuals who sent their tax returns through the Internet — the so-called Netfile option heavily promoted by Ottawa — were more likely to understate the amount of taxes owed. [...]
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Certain purchases exempt from state tax; second tax holiday comes in October
The back-to-school tax holiday runs from July 31 through Aug. 3. Certain school supplies including clothing, footwear, computers and computer-related accessories are exempt from state sales tax during this time.
From Oct. 2-5, the purchase of energy- or water-efficient products with a sales price of [...]
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As we all know that taxes play a major role in everyone’s life and they are equally important to be considered. We all know that there certain kind of taxes that are been charged by the federal government as well there are certain tax deductions and tax exemption that are also enjoyed by the people.
It [...]
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The IRS (Internal Revenue Services) provides various back tax resolution programs to tax payers only after analyzing their financial condition. It is important for the tax payers to be well aware of the tax obligations of IRS before they actually consider solving back taxes.
The simplest way to settle the back taxes is the wholesome payment [...]
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