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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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Taxation News
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Clergy Housing Tax Exemption The Times Square Of Religion And Forbes
Forbes Clergy Housing Tax Exemption The Times Square Of Religion And Forbes Judge Crabb39s decision that special tax break for clergy housing is unconstitutional prompts strong reaction in religious circles. and more raquo

Double Taxation Of Social Security FedSmith.com
Double Taxation of Social Security FedSmith.com Little in the IRS tax code draws more unfavorable response than the rules around the taxation on Social Security benefits. As contentious as that feature of the system can be, it is here to stay. There is no way to replace that income. and more raquo

Donapost Buy Quotdouble Taxationquot Argument On Estate Tax: Opinion The New...
The News Journal Don39t buy quotdouble taxationquot argument on estate tax: Opinion The News Journal Should people who inherit money never pay any taxes This topic is hard to write about, because the answer seems so obvious to me. Paying taxes is something that Americans do, based on their ability to pay. Those who get the least amount of money

Corbyn Has A Washington Ally On Taxing The Rich. But No, Itaposs Not The Gu...
The Guardian Corbyn has a Washington ally on taxing the rich. But no, it39s not The Guardian The IMF has finally departed from 40 years of orthodoxy on taxation and economic growth, but it39s unlikely to persuade anyone in the US government. and more raquo

Taxing The Rich The Economist The Economist Blog
The Canary Taxing the rich The Economist The Economist blog FOR once, the Daily Mail and the Guardian, British newspapers of the right and left, agree. In the former, Alex Brummer says IMF39s new line of thinking of tax Higher taxes would not hurt growth, IMF says ICAEW Economiaeconomia all 6 news articles raquo

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