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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People who own bars, restaurants, and other businesses that employ tipped staff must make sure that they pay enough money into Social Security and Medicare. The amount that they pay is based off the amount of money in tips that their employees earn.
Read More >Owing the IRS money invites an onslaught of legal headaches for which you may be ill prepared. If you have never before found yourself in such a financial dilemma, you may at first feel helpless to advocate for and help yourself.
Having an IRS tax lien on your credit record can be devastating. Because it can stay on your record up to seven years after you pay off or settle the amount, you may have a difficult time getting financed for loans, credit cards, and other financing.
Identity thieves prey on unsuspecting victims throughout the entire year. However, as tax season approaches, these criminals ramp up their efforts to steal your identity and your money.
While you should always remain on guard against this threat, you should heighten your awareness and be ready to act during tax season. You can keep your identity, your money, and your future secure by understanding why and how these thieves operate, as well as what you can do to stop them.
Scammers and identity thieves are always on the lookout for easy targets. However, they are at their busiest during tax season. During this hectic time of year, these criminals launch realistic scams that aim to steal money and identities from unknowing individuals.
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