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Where Is Our Tax Money Going? (Solution)

The federal taxes you pay are used by the government to invest in technology and education, and to provide goods and services for the benefit of the American people. The three biggest categories of expenditures are: Major health programs, such as Medicare and Medicaid. Social security. Where do Australian taxes go? The federal Government raises around 81 per cent of…

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Who Gets Tax Audited? (Perfect answer)

7 Reasons the IRS Will Audit You Making math errors. Failing to report some income. Claiming too many charitable donations. Reporting too many losses on a Schedule C. Deducting too many business expenses. Claiming a home office deduction. Using nice, neat, round numbers. What causes you to get audited by the IRS? An audit can be triggered by something as…

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What Amendment Created Income Tax? (TOP 5 Tips)

Passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress’s right to impose a Federal income tax. Why was the 16th Amendment created? Tax Reform Act of 1986, the most-extensive review and overhaul of the Internal Revenue Code by the U.S. Congress since the inception of the income tax in 1913 (the Sixteenth…

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