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Gathering and saving receipts and tax documents is an important part of filing taxes and receiving your refund quickly. Whether you take the standard deduction or itemize deductions, most people ...
Many lawmakers and special interest groups have pushed tax breaks to encourage certain types of behaviors such as saving for retirement (saver's credit and deduction for traditional IRA ...
U.S. federal government tax receipts as a percentage of GDP from 1945 to 2015. 2010 to 2015 data are estimated. The federal income tax enacted in 1913 included corporate and individual income taxes. It defined income using language from prior laws, incorporated in the Sixteenth Amendment, as "all income from whatever source derived". The tax ...
As tax season approaches, many homeowners find themselves sifting through receipts and financial documents, searching for every possible deduction to reduce their taxable income. One question you ...
A gross receipts tax or gross excise tax is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is often compared to a sales tax ; the difference is that a gross receipts tax is levied upon the seller of goods or services, while a sales tax is nominally levied upon the buyer (although both are ...
Changes in tax rates, tax enforcement policies, levels of social benefits, and other government policy decisions can also have major effects on public debt. For some countries, such as Norway, Russia, and members of the Organization of Petroleum Exporting Countries (OPEC), oil and gas receipts play a major role in public finances.