Well, at least somebody is.
The Treasury Department has reported that tax receipts from individuals hit a record one-day high of $48.7 billion on April 24. The previous record was $36.4 billion, set last year.
Much of the record tax receipts is said to reflect increasing wealth among America’s wealthiest individuals, and came not in the form of payroll tax but tax on investments or profits.
I was honored to find that one of my articles for the Legal Intelligencer was posted on law.com. You can read the piece, which focuses on tax issues related to holiday gifts and bonuses for employees, by clicking here. Kelly Phillips Erb Kelly Phillips Erb, known as Taxgirl, is a tax attorney, writer, and speaker…
The IRS amnesty program for taxpayers who had previously failed to disclose income from offshore accounts ended last week on October 15. By all accounts, it was wildly successful. According to IRS Commish Doug Shulman, nearly 7,500 taxpayers came forward to make voluntarily disclosures in hopes of avoiding criminal prosecutions. Dollar amounts ranged from $10,000…
No, no Lee Marvin, Ernest Borgnine or Charles Bronson here. It’s the IRS’ annual Dirty Dozen: tax schemes to avoid. The top schemes to avoid for 2007 (the list for 2006 is here), many of which have already been noted on this site, are: 1. Telephone Excise Tax Refund Abuses. 2. Abusive Roth IRAs (specifically…
As Tax Day creeps closer, I’ve been getting a slew of messages – on Twitter, email, and Facebook – hopeful that the big day will be pushed off a little bit more this year. Nope, not a chance. It’s true that tax season feels as though it’s rushing by faster than ever this year. That’s…
Ready to file your 2020 tax return? The Internal Revenue Service (IRS) hasn’t officially announced the start date to the new season, but the website indicates that Free File is officially open. Free File is available to taxpayers whose adjusted gross income (AGI) was $72,000 or less in 2020. You can find your AGI by looking at…
The Internal Revenue Service (IRS) has announced that victims of December’s violent storms in Mississippi will have extra time to file their 2015 tax returns and pay any tax due.