The United Arab Emirates (UAE) is a small yet incredibly prosperous country in the Middle East. It has experienced tremendous growth over the past decade, and much of its success can be attributed to wise economic policies such as corporate taxes. Recently, the government released a new public consultation...
Paying taxes can be cumbersome to most people, more so if they have been unable to do so for the past couple of years, resulting in them owing considerable sums to the IRS. To make matters worse, many find the Internal Revenue Service website full of tax jargon, leaving...
As a small business owner, you probably assum the IRS isn’t concerned with how little or how much you pay in taxes. However, since 2016, the IRS has increasingly targeted startups for tax audits, so it’s important for you to prepare your tax returns correctly, regardless of income. How To...
Two things are certain in life, death and taxes. But are there groups that don't pay taxes? The government gets money to spend by taxing the people, and there are many types of taxes. Taxes are important to the economy. Different people pay taxes at different rates. Ideally, high-income earners...
Taxes are deductions that the government makes on earnings for businesses and people. The taxes are vital to the economy and enable governments to function. Businesses need to pay for certain services to run smoothly. These are known as business expenses. All businesses have expenses that appear in their income...
It is every taxpayer's responsibility to file their taxes annually. These are important documents that the IRS uses to gauge your income level.  Failing to file proper returns is tax fraud under the law. It is a criminal offense that has consequences. When filing returns, you might need to attach supporting...
Taxes are crucial for the running of any country. A big and powerful country like the US needs taxes to pay its employees and run its projects.  You need to know how to pay taxes like a good citizen. Tax returns are an essential part of the tax collection process,...
Paying your taxes can be such a hustle. You have to get it right or risk being liable for tax fraud. Before the internet was mainstream, there were many complex payment methods. They include money orders, Same-day Wire, and cash. The internet has made payments easier, more convenient, and more...
As an internal body, IRS always makes decisions, either positive or negative. IRS depends on every piece of information to offer in compromise. Suppose you have an offer in compromise that doesn't belong to you. The IRS will automatically deny you an offer in compromise, but there are several other...
If you're like most people, you probably have no idea if you owe back taxes or not. The good news is that there are a few ways to find out. The bad news is that if you do owe back taxes, the penalties and interest can be pretty steep. When...