OK, the so-called Millennial demographic follows the Generation X crowd, which is on the heels of the baby boomers, which was preceded by … There is a reason for such references in a tax blog, and it connects to money. Namely, the older a generation is, the more members that generation has that command considerablecontinue reading…
Columnist: Author of tax controversy is president himself
There it is, prominently and unambiguously stated in Article I, Section 8 of the United States Constitution: The Congress shall have Power To lay and collect Taxes. As anyone who has even basic familiarity with the Constitution knows, the nation’s preeminent legal document is divided along lines that separate power and its prerogatives, dividing thecontinue reading…
The tax man cometh: the expanding global reach of the IRS
To some people, it might soon appear that the U.S. Internal Revenue Service is about to swallow the earth. The plenary powers that the agency brings to bear domestically are, of course, well known to American taxpayers, many of whom have found themselves on the receiving end of agency audits, tax liens and levies, andcontinue reading…
A smaller percentage of audits, yes, but in the aggregate …
It’s flatly unquestionable that a statistic can be adjudged a number of ways. Consider a figure from the world of tax audits, for example. On the one hand, the 0.57 percentage cited by the Internal Revenue Service as the audit rate for American businesses during fiscal year 2014 is highlighted as being the lowest amountcontinue reading…
IRS responds to discovery of error on federal health insurance form
For the vast majority of people here in Minnesota and across the U.S., the thought of sitting down to do prepare a tax return is nothing less than cringeworthy. That’s because it will likely require sorting through significant paperwork and trying to decipher otherwise arcane language courtesy of the Internal Revenue Service. Indeed, it’s preciselycontinue reading…