federal income taxes

Understanding Federal Income Tax

Federal income tax is a very important issue and you can make the chore of paying this tax much easier if you take some time and learn about the process. Paying taxes does not have to be complicated and there are many resources out there that will help you through all of the steps and provide you with the answers you are looking for.

When you begin looking at your federal income tax, you may want to also begin looking at some resources that can help you understand how everything works. The IRS has a great website that can walk you through many of the processes and you may be able to take care of your taxes from the privacy of your own home. There are many other resources on the internet that should give you many options to help you with your personal or business taxes.

If you are completely overwhelmed with the Federal income tax, you may want to hire an accountant, or tax professional to help you complete any of the forms you are having problems with. You may also have many questions and this is a great person to give you the answers. You want to make sure that you work with someone that you trust, as they will be viewing many of your most personal documents.

Federal income tax is something that cannot be avoided and if you take some time and learn as much as you can, it can make a big difference in your results. The more you understand the less stressful the process will be.

About the Author

Widen your knowledge on federal income tax at http://www.federalincometaxhelp.org – Free information and impartial advice.

Where is the law that says we have to pay federal income taxes?

Where is this supposed law that tells us we must pay taxes? I still haven’t found one myself.

I have know for a long while that many people in this country find that paying taxes are unconstitutional. I have just seen a movie that I have most interesting and would like to share it with whom would like to see it .Its called”Zeitgeist the Movie”

Ron Paul on CNBC 2004 – UnConstitutional Income Tax

True summary of illegal activity from long term illegals

Here is a true summary of illegal activity from long term illegals, and as you can see it’s not just about sneaking across the border, and it’s not just careless breaking of the law, it’s carefully planned to cheat Americans.

1. Illegal entry into the United States – Misdemeanor – deportable offense.
2. Failure to register as a foreign national – misdemeanor – deportable offense.
3. Fraudulently applying for a state driver’s license with counterfeit ID – misdemeanor
4. Applying for work or working in the United States without a work visa – Misdemeanor – Deportable Offense.
5. Fraudulently operating an unregistered business under a false name – misdemeanor – Deportable Offense
6. Fraudulently applying for and accepting welfare using counterfeit ID – Felony – Jail Time- Deportation
7. Fraudulently applying for and accepting food stamps using counterfeit ID – Felony – Jail Time – Deportation
8. Fraudulently applying for and accepting mother’s assistance using counterfeit ID – Felony – Jail Time – Deportation.
9. Fraudulently applying for work using counterfeit or stolen Social Security Number – Felony (Perjury)- Deportation
10. Fraudulently claiming excessive deductions for Federal Income Taxes to avoid paying any taxes – Felony – Jail Time – Deportation
11. Registering to vote in states with Motor Voter programs and voting without being a US Citizen – Felony (Perjury)- Deportation
12. Buying counterfeit auto license tabs instead of paying the sate – Misdemeanor
13. Buying phony auto insurance from Mexican operatives so automobile with counterfeit tabs can be registered – Misdemeanor
14. Claiming poverty in a household with high income (for you less than informed – illegal households can easily make as much 0,000 a year tax free) so children can apply for free lunches at school – misdemeanor
15. Claiming poverty to get free medical care from free clinics – Felony – Fraud (hundreds in LA alone) and using first class hospital emergency rooms as family doctors for non-emergency medical – ALL ILLEGALS HAVE 100% MEDICAL COVERAGE AT NO COST TO THEM – PERIOD – Misdemeanor – Deportation.
16. Traffic citations and accidents – Illegals have no real name or address – if they are get a citation or are involved in an accident – they just disappear and surface again with a new counterfeit license and address- and good luck with your insurance company – misdemeanor – Deportation
Etc, Etc, Etc,
By the way no one said anything about hating anyone because of who they are are where their from it’s HOW they got here!just pointing out the facts!

JACKSONVILLE, Florida (Reuters) – Republican presidential contender Mitt Romney said on Saturday his 3.4 billion U.S. economic stimulus plan would rescue an economy on the "tipping point" of recession. His plan foresees 1.4 billion in stimulus to corporate America in measures that include permanently reducing the corporate tax rate to 20 percent from 35 percent over two years and allowing businesses to depreciate the value of new equipment purchases faster.

McCain has voiced apprehension over proposals for temporary tax cuts and more spending as suggested by many Democrats and Republicans, saying they result in additional strains on resources. McCain has instead proposed cuts in corporate taxes from 35 percent to 25 percent, extension of Bush’s tax cuts, and elimination of the Alternative Minimum Tax, which was enacted to prevent wealthy taxpayers from using many deductions to avoid federal income taxes.
so not only does it seem they favor big business but it is actually their beleive that it is the best way to adress our economic issues.

i now understand how that 0.00 a year that the bush tax cuts have saved me is really due to the added economic growth due to the billions in tax credits given to oil corporations, who have used those credits to help keep the price of food, fuel and transportation down…… due to their brilliant development and research programs and the republican led business revival these oil giants some how managed to see historic profit margins. thanks to those wonderful incentives and republican management of the economy we have seen millions of jobs created
(minimum wage service sector jobs, which don’t come with a pension or 401k or health insurance….)
to make up for the higher pay industrial jobs which have been lost.

i was wrong, i don’t understand how i missed how much the wonderful job done by our leadership in washington had done for us

Beacuse these two things ARE NOT the same.

The top 10 percent of income earners in this country pay 71 percent of federal income taxes, though they earn just 39 percent of the nation’s pretax income.

Thirty years of Republican tax policy have now completely eliminated federal income taxes on the poor and lower middle-income Americans, and almost eliminated them on middle America.

The latest data from the Congressional Budget Office and the Internal Revenue Service show that the lowest 40 percent of income earners as a group actually receive net payments from the federal income tax system. (They get 3.8 percent of total federal income tax revenues instead of paying any income taxes.) The middle 20 percent of income earners pay 4.4 percent of federal income taxes. Thus the bottom 60 percent of income earners together, on net, pay less than 1 percent of all federal income taxes.

Obama would end the Bush tax cuts and allow the top two tax rates to return to 36 and 39.6 percent. He also would allow personal exemptions and deductions to be phased out for those with income over 0,000. He would end the Social Security payroll tax cap for those over 0,000 in earnings. (The cap is currently set at 2,000.) These individuals will then face a tax rate of 15.65 percent from payroll taxes and the top income tax rate of 39.6 percent for a combined top rate of over 56 percent on each additional dollar earned.
And this doesn’t include state and local taxes!

What Obama is calling tax cuts for the middle class is really a slew of refundable federal income tax credits that would primarily go to those who are paying little or no federal income taxes now. Such credits would primarily not reduce tax liability, but instead be checks from the federal government for child care, education, housing, retirement, health care, even outright giveaways. These are not tax cuts. They are new federal spending programs hidden in the tax code. Who is going to pay for it? The Rich??

Not likely! At a 56% tax rate, I’m moving my money offshore!

Many individuals will attempt to transfer their compensation from wages to capital gains, since capital gains would only be taxed at 25 percent, or less than half of the top rate on wages. This would put a great deal of pressure on a company to do anything it could to make its stock quickly increase in value. Other individuals would try to incorporate so they could pay business taxes instead of having to pay taxes on their wages. Again, these resources would be diverted away from more productive uses and slow the economy.

High tax rates also encourage capital and income flight to lower-taxed areas. There is ample evidence in the United States of individuals and businesses moving to states such as Florida or Delaware to take advantage of their tax-friendly laws. A higher federal tax rate would encourage individuals to move assets abroad to take advantage of lower tax rates in countries such as Canada, France, and Great Britain.

I’ve read Obama’s tax plan on his site. There are NO TAX CUTS!! NO TAX RATES ARE LOWERED!! These are TAX CREDITS that someone has to pay for. We Conservatives call this "redistribution of wealth."

I’m just getting into the business world so I don’t know much about taxes or filing out w-4 forms properly. I’m 19, full time student at the university of colorado and i’m home for the summer working as an intern. I receive hourly pay of .45 with a monthly stipend. My parents are still fully supporting me and I work just to get a little extra money. I got my first pay check today and my father pointed out that I must have filled out my w-4 form incorrectly because I was being taxed federal income taxes, SS, federal medicare, CA income taxes, and CA Vol. Disability. (and well thats a pretty big lump of money if you’re not making much) I figured out that I won’t get any of that money back until I file my tax returns for 07 correct? But when I correct the w-4 what should I put down???