On August 12, 2022, the Inflation Reduction Act was introduced. The Act determined the Internal Revenue Service (IRS) should receive an additional $80 billion over the next ten years to help with tax enforcement on high-net-worth individuals.
by Matin VarshochiMissouri currently has approximately 6,527 homeless people, or around 1.13% of its population. As the state government wishes to lower this statistic, Missouri Governor Mike Parson signed a new bill earlier this month that will go into effect on January 1, 2023, criminalizing homelessness.
by Matin VarshochiEvery year, between January 1 and April 15, one must file tax returns with the federal government. To aid them with determining the amount of taxes owed for each applicant, the federal government uses income tax brackets to determine the effective tax rate.
by Matin VarshochiEstate planning is not just for the ultra-rich. Everyone already has an estate plan, whether you've chosen one or not, so why not make your own? Find out how.
by Shaun MorganOften, they go to TurboTax, which offers free tax filing services for its customers. However, Intuit, the owner of TurboTax, has been ordered to pay $141 million to its customers who used their services to file their income tax returns from 2016 to 2018.
by Sheena AllenA trust has many benefits over using a will when passing on generational wealth. If you’re building generational wealth, you need to talk to an estate attorney about how it can benefit you and your heirs.
by Shaun MorganUnlike tax evasion, there are a few legal ways to reduce your taxable income to keep as much of your hard-earned money as possible. Some of these tips may be a little late for the 2021 tax season, but they will be useful for the upcoming 2022 tax season.
by Lyle SolomonFiling your taxes is stressful, but it is more stressful when you're not prepared. Tax planning can take the stress out of filing your taxes and save you thousands.
by Shaun MorganThe Internal Revenue Service (IRS) has begun giving out tax refunds, with 22 million already receiving their money, with the average recipient receiving $3,536. Here are some ways to help expedite the process of receiving a tax refund.
by Viviana VazquezTax season can bee a dizzying experience just trying to keep all the tax forms straight. Luckily, tax forms aren't as confusing as you'd think, once you get the basics down. Here are what your basic tax forms mean.
by Shaun MorganThe Internal Revenue Service (IRS) has decided to begin taxing cryptocurrency profits as many did not report having crypto assets, leading to them understating their income and the amount of taxes paid.
by Viviana Vazquez