The Affordable Care Act was passed to encourage Americans to purchase and maintain health insurance policies for themselves and their families. Since its passage, however, many people either refuse or cannot afford to buy coverage.
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Scammers and hackers are always on the lookout for the perfect opportunity to steal people's private information. As people rush to file taxes and cash in on substantial refunds they are often unaware that they leave themselves open to scams that could jeopardize their identities and their tax returns.
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It is perfectly legal to keep money in an overseas bank account. In fact, many Americans do simply because they work and live abroad.
While it is legal to open and maintain international bank accounts, it is illegal to avoid reporting this money to the IRS. You can obey current U.S. tax laws and still keep your overseas accounts by keeping in mind these tips about reporting this money to the IRS.
The IRS collects more than $2 trillion in tax revenue each year. Despite this massive sum of money, the IRS will at some point notice if you do not report your own income to the government.
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As the year draws to a close, your thoughts may soon turn to filing your income tax return. Tax season will be here before you know it. You can start preparing now to file your 2016 taxes by heeding some precautionary steps and by gathering information that could be critical to completing your return.
The Affordable Care Act, also known as Obamacare, now requires all eligible U.S. citizens and residents to have health insurance. Failure to purchase health insurance from your employer, a private insurer, or through the Healthcare.gov exchange could result in the IRS monetarily penalizing you and your family.
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The government has a vested interest in keeping businesses afloat and people employed. When companies and their workers fare well, they in turn contribute to the economy.
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Nobody wants to think about taxes during the holiday season. Still, one of the best New Year's resolutions you can make is to take some critical tax moves now that will pay off come April 2020.
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The chances of being selected for an IRS audit are rare for most taxpayers. However, if you have good reason to believe that your return will be audited this year, you may wonder what you should be doing now to ensure the best possible outcome. These five crucial steps can help you get ready if or when you are chosen for an IRS audit.
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Creditors are ready to take whatever steps are necessary to collect on money that is owed to them. When you are unable to pay off a debt entirely, your creditor may petition the court to have your wages garnished.
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