There has been a lot of talk about tax penalties under the Affordable Care Act (ACA) in recent years. You may have heard of this tax penalty known as "individual mandate."Simply...
According to the IRS, tax rates will depend on the taxpayer's source of income. Your income from the sale of stocks, for example, will generally be taxed at a lower rate than your...
According to the Christian faith, Jesus responded to a question when asked if it was right to pay taxes by saying, "Give to Caesar what belongs to Caesar, and God what belongs...
This is an employer-sponsored pension plan that offers qualified employees a guaranteed payment during retirement. This is an alternative to the defined contribution plan, which allows...
The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
Formerly known as the retirement savings contribution credit, the saver's credit offers a special tax reduction for low and modest-income taxpayers who save for their retirement....
Supplemental Security Income (SSI) is a benefit program administered by the Social Security Administration that provides monthly payments to people facing significant physical and...
Taxation of trust fund incomeDeath and taxes are two things that you cannot avoid in life. While there are ways to minimize your tax participation, you certainly can't get rid...