For taxpayers, the Internal Revenue Service is the bad guy in most situations. It is the agency that issues audits that can result in notices of back taxes, penalties and other tax-related issues. A tax attorney will always protect the interests of a taxpayer, but the truth is that there are instances in which the IRS does too.
IRS holding $917 million in refunds from 2009
Most often than not, it is the Internal Revenue Service that is seeking money from taxpayers. A notice may be sent that says a tax payer owes x-dollars in unpaid taxes, interest and penalties after an audit. In a rare situation, a recent report was released that the IRS is currently holding $917 million dollars due to taxpayers across the country -- and the window for claiming it is quickly closing.
Dayton proposes shift to sales tax, II
If you read our blog last week, we had a post that shared Minnesota Gov. Mark Dayton's proposal to rely more on sales tax than on income tax. The plan in Minnesota involves a combination of income tax and a broadened sales tax base. This has created some controversy.
Tax picture changing in Minnesota? Dayton proposes shift to sales
Taxes are certainly not something that is set in stone although it might feel like it to the taxpayers. The kinds of taxes, the structure, set thresholds for certain deductions or taxes are constantly changing. In fact, Gov. Mark Dayton has discussed the idea of shifting Minnesota's tax structure to one that depends in part on increasing the sales tax.
Sequester enters picture as stalemate continues
There has been a buildup of debate, concern and even fear over the resolution to the federal budget issue. First, there was the pending fiscal cliff, then there was the talk of sequester. Federal lawmakers were able to avoid the fiscal cliff, but it appears as though the $85 billion of federal spending cuts will go into effect.
