FAQ Q: Why did Governor Tim Walz choose to raise taxes instead of cutting them like many other governors? A: Governor Tim Walz raised taxes primarily to fund necessary public services and initiatives, such as education, health care, and infrastructure. By increasing taxes, his administration aimed to address budget deficits [...]
Embarking on the journey of resolving tax issues with the Internal Revenue Service (IRS) can be a daunting and overwhelming task for many individuals and businesses. However, with the right knowledge and guidance, it is possible to navigate through this complex process and achieve a successful tax resolution. Understanding the [...]
With tax season looming, your last-minute planning can often lead to oversights that negatively impact your finances. You might be so focused on deadlines that you overlook hidden tax pitfalls that can cost you money or result in unnecessary complications. This post will guide you through common traps you should [...]
**Slug:** IRS Tax Debt Collection: What You Need to Know **IRS Begins Tax Debt Collection Process** Ignoring tax debt might seem appealing to avoid financial stress, but the IRS holds significant power in tax collection. The longer one waits, the more severe the consequences can become. Understanding the steps the [...]
**IRS Updates Interest Rates for First Quarter of 2025** The Internal Revenue Service (IRS) has announced its interest rates for the first quarter of 2025. This update is expected to affect both individual and corporate taxpayers across the United States. Taxpayers are urged to understand the implications of these rates [...]
Most individuals and businesses overlook key strategies that could significantly enhance their year-end tax savings. By actively assessing your financial situation and implementing targeted maneuvers, you can minimize your tax burden while maximizing your deductions and credits. This blog post will guide you through effective tactics that empower you to [...]
Savvy taxpayers are aware of a little-known secret in the tax world known as the Collection Statute Expiration Date (CSED). This critical date signifies the maximum timeframe the IRS has to collect any outstanding tax debt from an individual or business. Understanding the ins and outs of CSED can work [...]
FAQ about the STATES 0 Act and Federal Cannabis Policy Q: What is the STATES 0 Act? A: The STATES 0 Act, or the “Strengthening the Tenth Amendment Through Entrusting States” Act, is a proposed piece of legislation aimed at limiting federal interference in state-level cannabis laws. It seeks to [...]
With the end of the year fast approaching, it’s important for you to understand how deductions and credits can significantly impact your tax liability. Appropriately leveraging these financial tools can reduce the amount you owe or potentially increase your refund. By strategically planning your finances and taking full advantage of [...]
They may argue that exempting Social Security benefits from income tax promotes financial security for retirees, but this approach is ultimately unsound and fiscally irresponsible. It undermines the integrity of the tax system and exacerbates budgetary challenges faced by governments. He and she should understand that doing so shifts the [...]