A Growing Tax Gap, A Tax Code At Risk
Taxpayers owed but didn’t pay $688 billion in taxes in 2021.
Source: taxpolicycenter.org
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What is a flexible spending account? What to know about the most confusing tax break in the US health care system.
How did we end up with flexible spending accounts? Here’s what you should know about FSA benefits.
Source: vox.com
The IRA's Green Energy Subsidies May Cost More Than Expected. Is That Good Or Bad?
It appears that the green energy tax breaks included in last year’s Inflation Reduction Act (IRA) are more popular among businesses than Congress imagined when it pass...
Source: forbes.com
The Fair Tax Act isn't the first time it's been proposed to change tax system
In 2017, President Trump’s administration issued the biggest overhaul of taxes in decades, which slashed the corporate income tax from 35% to 21% and the top marginal rate from 39.5% to 37%.
Source: ksby.com
Claims of 'IRS army' targeting US taxpayers are misleading
Social media posts and conservative politicians claim sweeping economic legislation provides for a new "army" of 87,000 Internal Revenue Service (IRS) auditors to target all US taxpayers -- creating an agency larger than the Pentagon, State Department, Border Patrol and FBI combined. This is misleading; the comparisons are overstated, only a small number of IRS agents carry
Source: afp.com