An excise tax is a type of tax that is imposed on certain goods or services at the point of sale or consumption. Unlike general sales taxes, which are levied on all goods and services, excise taxes are targeted to items like tobacco products, alcohol, gasoline, firearms, and other luxury goods. As such, these taxes …
Does the IRS Refile a Tax Lien After 10 Years? Taxpayers collectively owe the US government over $114 billion in back taxes – including hundreds of thousands of federal employees. However, just because the tax gap is substantial doesn’t mean that the IRS isn’t doing anything about it. In addition to ramping up audits in …
Tax liens are one-way state and federal tax authorities can pressure taxpayers into paying off their debts. But what if a taxpayer is at the end of their rope financially, and decides that the best thing to do is file for bankruptcy? Can tax liens be wiped out in bankruptcies? Well, bankruptcy can resolve most …
The California Middle Class Tax Refund is a tax refund issued by the California Franchise Tax Board for taxpayers who sent in a 2020 tax return to provide financial relief during unprecedented inflation. An estimated 32 million Californian taxpayers have already benefited from the MCTR. Here’s what our team at Rush Tax Resolution recommends you …
Taxes can hit families pretty hard. It can be tough enough as it is to save up for the ongoing expenses of running a household, raising children, and managing the growing costs of childcare, education, medical treatment, and insurance for a multi-head household without the toll of high state and federal taxes. Thankfully, families with …
Let’s face it – most taxpayers don’t want to have to file their taxes. It’s cumbersome and difficult, and depending on your financial situation, number of sources of income, and number of dependents, it can be enormously complicated. But failing to file a tax return might not only lead to hefty penalties but will also …