Few can argue that our Social Security system doesn’t need fixing. Even fewer can agree on how to fix it. A number of alternatives have been suggested from shelving the entire system and starting from scratch to simply changing the investment schemes available. So, this is your chance to voice your opinion. Today’s Fix the Tax Code Friday question is:
How would you fix the Social Security system?
Taxes From A To Z: M Is For Medicare Payments
It’s deja vu all over again as the Internal Revenue Service (IRS) is seeking to access customer data from Bitstamp. As with the Coinbase case, a taxpayer balked at the data sharing and filed suit to stop it. And just like the Coinbase case, the IRS won in part and lost in part. Bitstamp describes itself as…
For tax year 2003 (the most recent tax year for which data is available), individuals reported noncash donations valued at $36.9 billion. These donations were reported on federal form 8283, Noncash Charitable Contributions, which is required when a taxpayer makes noncash donations which exceed a total $500. Not surprisingly, corporate stock was the largest percentage,…
It’s tax season. If you have anxiety about your tax return, here are 10 ways to lower the odds of getting audited this tax season.
Shortly after I posted this piece about IRS cutting ties with ACORN, I received an email asking me, among other things, if I thought this was a good thing and if we should “get rid” of the VITA program altogether because of the potential for giving bad advice. I didn’t immediately respond to the email…
Looking for some extra cash? The Internal Revenue Service has $1 billion of it waiting to be collected. An estimated one million taxpayers who did not file a federal income tax return for 2011 have failed to pick up refunds totaling $1 billion. The IRS estimates that about half of those refunds total $698 or…