Twelve million taxpayers is a lot of taxpayers. After all, it's more than the population of all but six states.
The California Gold Rush got underway long before the U.S. Constitution was amended to allow for a federal income tax.
In the first part of this post, we began discussing the subject of companies that provide payroll services for small businesses.
How much authority does the IRS have to regulate professional tax preparers?
Warnings are a tricky thing.
The general rule in American courts is usually that each side pays its own legal fees. But there are some important exceptions to this general rule.
For decades, the structure of the federal income tax system has exerted considerable sway over state income tax systems. To be sure, there are several states that don't impose personal income taxes. States that do impose such taxes, however, have generally followed the federal lead regarding how tax deductions, exemptions and credits are handled.
“You can’t get blood from a stone,” goes the old phrase. Lawyers who are seeking to collect on judgments in favor of their clients know this phrase, and the reality it points to, very well. So, of course, do debt collectors – though those collectors sometimes try to squeeze even when there is nothing there.
The U.S. Supreme Court does not accept tax cases very often. But earlier this month, the Court heard oral arguments in United States v. Woods, a case involving a challenge by two businessmen to the severe tax penalty imposed on them by the IRS.
On one level, the question of an art object’s worth is a philosophical one. But the Internal Revenue Service is not generally known for its aesthetic interests. When the IRS takes an interest in the transfer of a painting, it is probably because the agency has a stake in determining its monetary value.