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Facts - Books - News    U.S. Facts Of Law:


Free Tax Law Facts

Learn About Tax Law And
How It Applies To You

Our free tax law facts section covers basic taxation facts with regards to the different levels of government that may levy taxes.  Taxing authority is available to municipalities, counties, regional service entities such as school districts, State governments and the federal government.

The federal government levies many taxes including income tax, estate tax, import duty, excise taxes and a myriad of other special taxes and fees.  Income tax on individuals, corporations and other entities is the primary source of revenue for the U.S. Government.

States and local governments, on the other hand, collect most of their taxes from a combination of real property tax, personal property tax, sales tax and income tax.  In some places, residents may pay income taxes to federal, state and city governments.

Concurrent with income taxes, the federal government also collects FICA or social security taxes and Medicare taxes.  These taxes fund two of the ever growing entitlement programs created by the U.S. Congress.  The social security system technically is not an entitlement program since the original intent was a for a forced retirement savings plan a worker would fund over his or her lifetime.  Unfortunately, unscrupulous Congresses over the years spent the money workers saved and today social security payments for retired workers are funded by the payments of those still working in a never ending Congressional ponzi scheme.

 

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The Complex Taxation Of Americaaposs Retirement Accounts Tax Tax Foundation
The Complex Taxation of America39s Retirement Accounts Tax Tax Foundation Personal saving and investment are necessary for long term economic growth. The income tax treats ordinary saving more harshly than income used for and more raquo

Administrative : Taxation Mistaken Payment Authority To Correct Missouri L...
Administrative : Taxation Mistaken Payment Authority To Correct Missouri Lawyers Media Cass County v. Director of Revenue MLW No. 71691/Case No. SC96731 11 pages Supreme Court of Missouri, Powell, J. Draper, Breckenridge and Stith, JJ., concur Russell, J., dissents in separate opinion filed Fischer, C.J., and Wilson, J., concur

Irish Revenue Commissioners Guidance On The Taxation Of Cryptocurrency Transa...
Irish Tech News Irish Revenue Commissioners Guidance on the Taxation of Cryptocurrency Transactions Irish Tech News The Irish Revenue Commissioners have produced a guidance manual on the taxation of cryptocurrencies and anyone holding, trading or accepting cryptocurrencies should take note, as should their tax advisors. The purpose of the manual is to give guidance

Chained CPI Hits Social Security Through Taxation Of Benefits FedSmith.com
FedSmith.com Chained CPI Hits Social Security Through Taxation of Benefits FedSmith.com Every dollar in income that a senior earns above the threshold exposes another 0.50 to 0.85 to taxation. For someone in the 25 percent tax bracket, that means earning a dollar of increment income can generate a tax of 0.46, or a 46.25 percent tax rate. and more raquo

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