Beware of your average tax preparer

I posted about this just recently on Facebook, but I felt the need to expand on the subject just a little more. The following statement was brought to my attention by an associate. This was a help wanted posting for tax preparers. It read: “LOOKING FOR A SELF ,MOTIVATED PERSON WITH PEOPLE SKILLS, LOOKING TO EARN FULL-TIME MONEY IN 4 …

IRS Releases Final Report On 400 Richest Taxpayers

The IRS has released data on the 400 richest taxpayers in the country. This release contains four tables which contain information from the Top 400 Individual Income Tax Returns for each of Tax Years 1992 through 2014. Table 1 contains frequencies, money amounts, and average dollar amounts for the major income, deduction, and tax credits reported as part of the …

Trump Could Make a Decision Regarding IRS Leadership

Trump has a decision to make that could change how and if he discloses his tax returns while in his four-year term in office. IRS regulations call for annual audits of tax returns filed by U.S. presidents and vice presidents. Yet this rule is over forty year old, and was put in place during the Nixon administration. The rules are …

Thinking of moving to Canada?

The votes are cast and Donald Trump will be our new president. That is fact. The government and the IRS will still want their money, regardless of who would have been voted into office. That is also a fact. Since Donald Trump started running, search inquiries for moving to Canada have spiked and even the Canadian immigration site crashed the …

Trump Benefited From Tax Losses in 1995 For 18 Years

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show. The 1995 tax records, reveal the extreme tax benefits that Mr. Trump, the Republican presidential …

Impeach IRS commissioner

House conservatives Restarted another long-shot effort Tuesday, Sept 12th, to oust IRS Commissioner John Koskinen, by formally introducing an impeachment resolution expected to see a vote by the end of the week. Rep. John Fleming, R-La., a sponsor of the drive, offered the measure under special procedures that put the House on track to vote Thursday on the effort. “For …