Besides, the clearance of taxes is not that simple. There is a tedious and lengthy process involved in a bid to prove your claims regarding inability to meet the tax obligations. For a chapter 7 bankruptcy, the law prohibits you to owe the tax authorities until the end of the bankruptcy period. On the other hand, full repayments of taxes are mandatory in the case of chapter 13 bankruptcy.
For those that require a discharge of tax debts, they should consider pursuing chapter 7 bankruptcy as it is best suited for such. The terms are that your eligibility to the chapter 7 bankruptcy should... Read More
Taxation system has been running from centuries, it’s how Governments gains revenue to its budget. One thing that is common about taxation all over the world is the fact that few people really see the usefulness of it and feel as if they their taxes haven’t been put to better use. Many people love to put the title of taxpayer on themselves, when in fact they are very resentful when it comes to paying the taxes to the taxman.
In determining the strength of the international taxation system, you need to evaluate the various principles of taxation and then weigh the current tax regime against... Read More
The ACLU has filed a amicus brief in a case being handled by the Law Office of C. Justin Brown. The case, United States v. Harrison, presents a cutting-edge legal issue: whether Baltimore City Police violated the defendant's Fourth Amendment rights when it used a Stingray device to track his phone. (Click HERE to read more.)
Stingrays, also known as cell site simulators, are an emerging technology that allow law enforcement officers to locate cellular phones and even retrieve information from the phones. The technology is intrusive, meaning it disrupts the normal functioning of... Read More
July 15, 2014 - The FATCA is at last here after a period of 4 years, initially developed in 2010 as an approach to make America’s corporations and private individuals stop evading America’s taxes by depositing their money into their accounts in foreign countries.
The act requires foreign banks and foreign financial institutions to inform about every American who owns an account and even to hold back money from those particular clients who are suspected of tax evasion to the Internal Revenue Service (IRS) in the United States.
The IRS and Treasury have important FATCA projects... Read More
As smokers seek to quit smoking, e-cigarettes are becoming more popular as a means to stop smoking. Data shows that one in five smokers have either switched to e-cigarettes or at least tried them. This fact has state legislators and governors looking for ways to tax e-cigarettes.
Michigan leads the way
Michigan governor Rick Snyder is heading the parade to tax e-cigarettes. Snyder stated he wants e-cigarettes treated as tobacco. A bill is already in the Michigan state legislature to define e-cigarettes as being in the same class as real tobacco products.
The Department... Read More
As in most years, tax day 2014 falls on April 15. It's important to keep in mind that if you don't file your return in time, you face stiff penalties. Even if you have no way of paying your taxes, you should at least file.
When it comes to paying, you can make use of a number of alternatives. You may even seek an extension or find credit to pay with. The taxpayer education blog at LibertyTax.com has a great deal of accessible information in this area. Here are a few things that you need to keep in mind if you find yourself needing to tap your credit to pay your taxes with.
What... Read More
Although the government benefits from these collections, there are other Americans who benefit from this tax time of year as well. Tax accountants are happy to welcome in the New Year—it heralds the beginning of the new tax season. Tax accountants’ appointment books fill to capacity, and tax offices become active, busy places. In the United States, citizens have from January to April of every year to even the score with Uncle Sam’s IRS. So as individuals moan and groan at the thought of tax season, accountants are smiling broadly—counting their money.
Taxman Training and Tithes Perhaps... Read More
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