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Budget cuts lead to fewer tax audits...!!!

The IRS audited 1.4 million people last year. That’s the lowest number in 5 years. But don’t go patting yourself on the back just yet. Audits aren’t down because Americans are getting better at crunching the numbers. Instead, audits are down because the agency is in a cash crunch. The IRS budget has been shrinking since 2010, and that will continue this year. Less money has meant layoffs and furloughs, so fewer people to do the audits.

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IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply

IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply | OmgTax | Scoop.it
OMG Tax's insight:

The Internal Revenue Service today issued a notice providing answers to frequently asked questions (FAQs) on virtual currency, such as bitcoin. These FAQs provide basic information on the U.S. federal tax implications of transactions in, or transactions that use, virtual currency.

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State Personal Income Tax Rates and Brackets 2014 Update

State Personal Income Tax Rates and Brackets 2014 Update | OmgTax | Scoop.it
Key Findings State income tax systems have significant variation in structure, rates, deductions, and exemptions, including 9 states with no income tax on wages and 8 with flat income taxes. North Carolina became a flat tax state, moving from three brackets to just one. Massachusetts, another flat tax state, reduced its rate slightly. Kansas, North Dakota, Ohio, and Wisconsin all made across-the-board income tax rate reductions relative to 2013 rates.
OMG Tax's insight:

State income taxes are structured in many different ways throughout the U.S. Here is a 2014 update:

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IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply

IRS Virtual Currency Guidance : Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply | OmgTax | Scoop.it
OMG Tax's insight:

Virtual Currency Is Treated as Property for U.S. Federal Tax Purposes; General Rules for Property Transactions Apply-

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Owe Back Taxes? | Get Back on Track Today | We Can Help

Owe Back Taxes? | Get Back on Track Today | We Can Help | OmgTax | Scoop.it

The OMG Tax company is the firm that deals with the federal and state taxes with its dynamic team. It has maintained its legacy in the minds of the people for the last 50 years by providing the various solutions to the tax problems faced by the clients. It helps clients to come out of the depths of taxes.

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OMG Tax Services stand for taxpayers.

The OMG Tax focuses on the rights of the taxpayers and promote understanding and acceptance of tax responsibilities. It is a different type of tax company that has maintained its image in the market for the past 50 years. The OMG Tax Services has helped thousands of taxpayers in getting back the taxes on track. https://omgtax.com

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OMG Tax Services- OMGTax

OMG Tax Services- OMGTax | OmgTax | Scoop.it
Find the best possible resolution to IRS and State back taxes. Friendly team of tax professionals will negotiate on your behalf with your interests in mind.
OMG Tax's insight:

OMG Tax is a company that has dealt  with taxes for the last 50 years. It is a different kind of tax company that focuses on promoting the understanding and compliance. It stands for the rights of the taxpayers that can be used by them in standing against any illegal issue raised against them.

 

https://omgtax.com/

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IRS Releases FY 2013 Data Book...!!!

This link http://www.irs.gov/uac/Newsroom/IRS-Releases-FY-2013-Data-Book describes activities conducted by the IRS from Oct. 1, 2012, to Sept. 30, 2013, and includes information about returns filed, taxes collected, enforcement, taxpayer assistance and the IRS budget and workforce, among others.

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And The State With The Lowest Taxes Is?

And The State With The Lowest Taxes Is? | OmgTax | Scoop.it
Compare state and local sales tax to total state tax burdens across the U.S. using this data.
OMG Tax's insight:

The best and worst states for consumption taxes, total tax burden

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IRS Audits of Individuals Reached Lowest Rate Since 2005

The U.S. Internal Revenue Service audited 0.96 percent of individual tax returns in fiscal 2013, declining for the second straight year and reaching the lowest rate since 2005.

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Roni Deutch Tax Center - Winterhaven-bard, CA 95660 - (916) 331-2011 - Reviews - (19762300) | CitySquares

Roni Deutch Tax Center - Winterhaven-bard, CA 95660 - (916) 331-2011 - Reviews - (19762300) | CitySquares | OmgTax | Scoop.it
Roni Deutch Tax Center 4700 Roseville Rd North Highlands, CA 95660-5143 916-331-2011 finance & insurance accounting & bookkeeping services - 19762300
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Pay Tax with OMG Tax Company

The OMG Tax Services is a different type of the tax company that aims at helping the clients nationwide by providing the effective Tax Services so that the clients can come out of various federal and state tax payment issues. It has already provided help to the thousands of taxpayers in taking their taxes back to track. http://omgtax.com/

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OMG Tax Services

OMG Tax is a company that has dealt  with taxes for the last 50 years. It is a different kind of tax company that focuses on promoting the understanding and compliance. It stands for the rights of the taxpayers that can be used by them in standing against any illegal issue raised against them.

 

For more information click here - https://omgtax.com/

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OMG Tax

CHECKINS HERE 0
OMG Tax
  • 4700 Roseville Rd Ste 206
  • North Highlands, CA
Bank in North Highlands, CA
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