Check Tax Return Online

Check Tax Return Online

Since the 2008 Economic debacle, the U.S. has looked for ways to maximize income while minimizing expenses. As a government’s chief method of income is the taxation of its citizens, the Federal government has looked to allowing the lapse of Bush era tax breaks, raising taxes where appropriate, and stricter guidelines for tax professionals.

This ethos is trickling down to the state level. In some of the harder hit states, new and tighter regulations concerning the taxpayer and his/her tax bill are coming into existence and the taxpayer is facing new and more intense scrutiny. This effectively translates into greater responsibility and headache for the professional tax preparer.

Already living in one of America’s most highly taxed states, the average citizen in the state of New York may not be aware of the ordinances in place that dictate nearly every phase of the tax preparer’s profession and his/her relationship with corporate and individual clients. Tax preparers have to pay a fee and register with the New York Department of Taxation and Finance if they make a least ten tax returns in a calendar year (deeming them professionals). As the Internal Revenue Service already has tax preparer registration in place, this is a double whammy for tax preparers who reside in the state of New York. Twice represented and twice accessed for the privilege of practicing within New York.

Of course, state and federal governments maintain that this regulation is good for the state and good for the country. Regulating tax preparers provides additional assurance that more citizens are in compliance with tax regulations (regulating at every level will ensure more scrupulous compliance). This regulation may persuade people to seek internet services in order to check tax return online and streamline the entire process.

Some States Are Also Dreaming Of A Mega Millions Jackpot

People who are lining up to purchase tickets for the Mega Millions Jackpot are not the only ones who are dreaming of the astronomical $540 million lottery prize that someone might win on Friday. Several state governments are also hoping to get lucky because the win would result in a big tax bonus for them.

A single winner of the Mega Millions Jackpot could generate taxes of tens of millions of dollars to some lucky state if the lump-sum payout is chosen. This could mean funding some important social service programs that are currently scheduled to be chopped. This kind of tax money coming in to a state could pay for low income housing, more state troopers, or it
could keep keep taxes lower for everybody.

The prize for the Mega Millions Jackpot is now the largest in the history of the country. A single winner who chose the lump-sum payout could get nearly $390 million.

If the winner is from Rhode Island and chooses the single payout, the state would collect more than $23 million in taxes on the win.

Each state sets its own individual tax rate on lottery wins. For example, in New York, the state charges 8.82 percent. There are some states such as California that do not tax lottery wins.

Joe Testa, the tax commissioner of Ohio, says he is not  holding his breath, but he is rooting for an Ohioan to win.

State Senator David Lewis in Montana said he would use a tax windfall from the Mega Millions Jackpot to pay for spending on infrastructure.

Wesley Snipes: Failing To File Income Taxes

Wesley Snipes to Stay Incarcerated For Failing to File Taxes

The US Supreme Court announced on Monday that it has denied Wesley Snipes’ appeal regarding his tax evasion charges.

At age 48, Snipes has been serving a prison sentence for neglecting to pay his income taxes. In 2008, he was federally charged for failing to file income taxes and was ordered to spend a 36 month sentence in prison. He has been in prison since December 2010 for not paying $15.6 million in taxes than span over a period of six years.

The Courthouse News Service stated that Snipes … Read the rest

Wesley Snipes to Stay Incarcerated For Failing to File Taxes

The US Supreme Court announced on Monday that it has denied Wesley Snipes’ appeal regarding his tax evasion charges.

At age 48, Snipes has been serving a prison sentence for neglecting to pay his income taxes. In 2008, he was federally charged for failing to file income taxes and was ordered to spend a 36 month sentence in prison. He has been in prison since December 2010 for not paying $15.6 million in taxes than span over a period of six years.

The Courthouse News Service stated that Snipes claims he was wrongly charged because the case was brought against him in Florida. Snipes claims that the charge made by federal prosecutors in Florida was improper. He believes that it should have been based in New York. Prosecutors proved their case valid by demonstrating that Snipes’ birthplace was the state of Florida and he also held a driver’s license from the same state. However, Snipes claims that he has renewed his driver’s license in New York several times.

The judge refused to comment on the topic Monday meaning Snipes will have to serve out his three-year prison term. Snipes remains optimistic about the future despite his expressed disappointment in the US justice system.

Republicans Repeal Tanning Business Tax

Legislation was recently introduced by a committee of House Republicans to repeal the ten percent tax on companies that provide tanning services. The tax, which was introduced under the President’s measures to reform health care, has been widely regarded as being unfair to small businesses.

Michael Grimm, a New York Republican pointed out that middle class Americans and small business owners should not have to pay the bills for Obama’s reform of health care. Grimm went on to say that the tanning tax is just one of several unfair taxes that affect both business owners and customers and ultimately the … Read the rest

Legislation was recently introduced by a committee of House Republicans to repeal the ten percent tax on companies that provide tanning services. The tax, which was introduced under the President’s measures to reform health care, has been widely regarded as being unfair to small businesses.

Michael Grimm, a New York Republican pointed out that middle class Americans and small business owners should not have to pay the bills for Obama’s reform of health care. Grimm went on to say that the tanning tax is just one of several unfair taxes that affect both business owners and customers and ultimately the overall economy.

The tanning tax could adversely affect up to 120,000 people employed by around 18,000 small businesses, points out Phil Roe, a Tennessee Republican. To make his point, Roe stated that just over 3,000 tanning businesses have closed since 2009, because of this tax – a number that represents 15 percent of the overall industry and accounts for 24,000 jobs.

The tax was introduced in July and since then has caused a dispute during debates on health care when discussing both taxes 2010 and 2009. President Obama signed the Act for Affordable Care and Patient Protection (PPACA)in 2010 and supporters of the tanning tax argue that filing business tax such as this helps pay for care under this act.

Repealing the tanning tax is encouraged by the Federation of Independent Business and the organization claims that the PPACA could get rid of 1.6 million jobs by 2014, around 30 percent of which are in small businesses.