Flat Tax Fever? States Ramp Up 2025 Income Tax Overhauls

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Many U.S. states are considering or implementing flat income tax systems. These policies apply a single tax rate to all taxpayers regardless of income. While supporters say these reforms simplify tax codes and spur economic growth, critics argue…

Tax Bill Clears the House: What It Means for Americans and What’s Next

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On May 22, the U.S. House of Representatives passed a sweeping tax package, advancing a bill that could significantly reshape the federal tax landscape heading into the 2025 filing season. Dubbed by supporters as “The One Big Beautiful Bill,”…

Understanding Filing Requirements and Non-Compliance Penalties for Exempt Organizations 

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Article Highlights: Annual Filing Requirements Understanding Which Form to File Due Dates and Extensions Online Filing Options Consequences of Late Filing or Non-Filing Monetary Penalties for Filing Non-Compliance Other…

How the Social Security Fairness Act and Lump-Sum Election Can Maximize Your Benefits

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Article Highlights: The Impact of the Social Security Fairness Act Social Security Lump-Sum Election Taxation Options for Lump-Sum Payments Taxation in the Year of Receipt Lump-Sum Election Method How Each Method Works …

Fore! When Golfers Miss the Fairway on Taxes

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As Rory McIlroy celebrates his historic 2025 Masters victory, joining an elite group of golfers – including Tiger Woods and Jack Nicklaus – who've completed the career Grand Slam, the spotlight on professional golf has never been brighter.…

IRS Unveils Top Tax Scams and Threats to Watch For

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Article Highlights: Dirty Dozen Email Phishing Scams Bad Social Media Advice IRS Individual Online Account Help from Scammers: Fake Charities  False Fuel Tax Credit Claims  Credits for Sick Leave and Family Leave  …

How to Handle IRS Letters During Filing Season: What You Need to Know for 2025

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The dreaded moment arrives: you check your mail, and there it is—a letter from the IRS. Your heart sinks. What could it be? A mistake? A penalty? A request for missing information? If this sounds familiar, you’re not alone. During filing…

Hidden Tax Benefits: How Equitable Ownership Can Maximize Your Mortgage Interest and Tax Deductions

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 Article Highlights: Equitable Ownership Who Qualifies as an Equitable Owner? Tax Implications of Being an Equitable Owner Mortgage Interest Deduction Property Tax Deduction Examples of Equitable Ownership Examples Where…

Money Doesn't Stink: The 12 Strangest Taxes in History

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Throughout history, taxes have been a fundamental aspect of governance, often reflecting the economic and social priorities of the times. While many taxes are straightforward, aimed at income, property, or sales, some historical taxes have been…

From Sugary Sips to Slimmer Kids – The Real Impact of Seattle’s Soda Tax

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New research indicates that children living in Seattle experienced a significant decrease in body mass index (BMI) following the implementation of the city's soda tax. This tax, aimed at reducing the consumption of sugary beverages, has not…