New Voluntary Classification Settlement ProgramMisclassification of WorkersMany businesses pay workers as subcontractors instead of employees to avoid payroll taxes. This misclassification may save the business some money in the short term, but back taxes in addition to hefty penalties and interest can be a crippling...
The media has begun calling Congress’s inability to address the expiring Bush-era tax cuts and automatic budget cuts planned during the last debt ceiling debate “Taxmaggedon” or the "Fiscal Cliff." The following is an explanation of the Bush Tax Cuts, why they’re in the spotlight,...
What to Make of the President's "Buffet Rule."The Buffet RuleEarlier this month, the President proposed two complementary plans for economic growth and deficit reduction. On September 12, he released The American Jobs Act. One week later he released Living Within Our Means and Investing in...
We've heard constantly throughout this election year that half of the households in the U.S. don't pay income taxes, while others shout that billionaires pay less tax than their secretaries. We addressed the progressive nature of our tax system last year (What to Make of...
Here are six last-minute things to keep in mind as the due date for most individuals' 2012 federal income tax returns approaches. 1) File on time, pay any taxes dueThe due date for 2012 federal income tax returns is April 15, 2013. If you're not going...
