Some super interesting reading from the New York Times… Of the wealthiest taxpayers — those with annual incomes of $10 million or more — seventeen included income from unemployment benefits, averaging $5,765 each. Read more:
Off the Charts – In 2008’s Downturn, Some Managed to Eke Out Millions
Do you file an accurate tax return and pay what you owe each year? If so, you’re in the majority: a report released by the Internal Revenue Service (IRS) indicates that the nation’s tax compliance rate is holding at 84%, the same as in prior years. The report also provides an estimate of the tax…
Earlier this month, I posted a story about millionaires collecting unemployment benefits. In the story, I noted that the issue of unemployment benefits remains controversial. Shortly after the post, a reader contacted me to tell me that part of the problem is that nobody wants to hear the real story of what it’s like to…
Recently, Americans have experienced rising prices. But when it comes to economic inflation, how does this affect the taxes you are expected to pay? How could the impact of inflation affect your tax bill? On today’s episode of the Taxgirl podcast, Kelly is joined by Tim Speiss to talk about the impact of inflation and…
Remember this article (and this one) about the numbers of non-paying tax filers? Today, the Tax Foundation released a series of groupings of IRS data showing the breakdown of non-paying tax filers. You can see the results by the numbers here. Mississippi tops the list at 45%, while Alaska sits at the bottom with a…
According to the Government Accountability Office, in any given year, at least 60% of US corporations surveyed paid no federal income tax liability for 1998 to 2005 (the years studied). That statistic includes corporations of varied sizes. If the trends in the survey are accurate, nearly one quarter of large US corporations don’t pay any…
The good news: nearly 50% of American households (47%, to be precise) won’t pay any federal income tax in 2009. The bad news: the remaining 50% (or so) will have to foot the bill for everyone. You can thank (or blame) the new economic recovery package for bumping the percentage of taxpayers who won’t be…