Taxpayers are required by the law to truthfully declare their incomes. This is very important because once the IRS does some audit and finds out that there are errors then the consequences can be a tough one.
The ordinary tax filer finds difficulty in keeping track of every single tax breaks that the IRS offers. It is important for a tax filer to know these tax breaks and deductions that he might be missing out on, so that he can take advantage of them before the April 18 deadline catches up on him.
Forty millionaires in New York have recently requested the governor to raise their taxes. This is a surprising move for the wealthy who are known for their overprotectiveness when it comes to their riches.
IHS, one of the largest data providers in the United States announced that it went into a merger recently with Markit, a global financial information and services firm based in London, for $13 billion and will move its headquarters to the United Kingdom.
Billionaire Carl Icahn is getting a thumbs up from experts when he said Tuesday that taxes should be raised for hedge fund managers and lowered for corporations while endorsing Donald Trump for the 2016 presidential election.