IRS MILEAGE RATE INCREASE FOLLOWS PAST

IRS mileage rate increase follows past. The IRS usually sets the standard mileage deduction at the end of each calendar year, as that is when most taxpayers file their tax returns. The rate allows business owners the ability to deduct an expense and lower their taxable income. For only the third time since 2008, the […]

IRS BLAME GAME FOR DESTRUCTION OF RETURNS

IRS blame game for destruction of returns. In a somewhat surprising statement, the IRS stated it had destroyed nearly 30 million unprocessed information returns because its “antiquated technology” forced it to dispose of the paper documents and vowed to process all such information returns that it received in 2021 and 2022. The IRS statement was […]

TAX RETURN MYTHS PART TWO

Tax return myths part two. Several myths apparently exist regarding tax returns and what you can do to speed up the process of getting your tax refund. These are false and in fact some involve people calling the IRS, which only wastes the IRS time and clogs up the process for those with legitimate problems. […]

PANAMA PAPERS AND UNITED STATES

Panama Papers and United States. The Panama Papers leak was a particularly revelatory story about Russians use of the offshore system. Once story reported that a Russian cellist, who had been friends with Putin since childhood, was secretly linked to offshore accounts holding up to $2 billion. Putin called the leak a “provocation”, insinuating that […]

TRUMP LABEL’S BIDEN’S TAX PLAN RADICAL

Trump label’s Biden’s tax plan radical. President Donald Trump describes Democratic challenger Joe Biden as a tool of “radical socialists” who are bent on taxing every American business and household into bankruptcy. Some progressives say Biden is a corporate crony who will never address systemic inequalities in U.S. society. In reality, Biden has taken a […]

TEN WORST TAX POLICY IDEAS OF 2019

Ten worst tax policy ideas of 2019. It is that time again. TaxVox has whittled down its list of the year’s bad tax ideas to 10, here they are. The government shutdown. The federal government started 2019 largely closed for business, as Congress and President Trump haggled over funding for his Mexican border wall. The […]