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Why was the irs created


Why was the Commission created? The IRS has the difficult job of administering a complex set of laws and processing 200 million tax returns and more than one billion return-related documents annually. Many functions are performed well, but there are also a number of widely acknowledged problems. The Commission will carefully examine these problems and make specific recommendations to address them. Among the problems are as follows: Public Confidence in the IRS is Low and Can Be Much Improved ASQC and the University of Michigan Business School's Customer Satisfaction Index show that taxpayers gave the IRS customer satisfaction ratings lower than any of the other 200 companies and government agencies measured in the index.

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Why was no taxation without representation a meaningful slogan


Why was the idea of "no taxation without representation" so important? The Sugar Act raised the issue of "taxation without representation. " The colonists said that they were not represented in Parliament - the British lawmaking body. The British government said they were "virtually" represented: they said the elected officials in Britain cared about the Americans. The Americans said that virtual representation was no representation. Your officials are supposed to fight for you. The officials in Britain could not possibly know or care about what was best for Americans.

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10 Tax Tips For Low Income Earners


By Mark Di Vincenzo Ι Published March 1, 2012 A A A Print 2011 was another tough year for those who earned considerably less than in years past because they were either unemployed or under-employed. If you earned less than usual in 2011– and you’re preparing your tax return right now – there are some things that you need to know in order to improve your chances of receiving a larger tax refund or lowering your tax bill. The Internal Revenue Service, accountants and other tax experts have tips to share that may save you hundreds or even thousands of dollars when tax time rolls around.

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Why was my efile return rejected?


heres what the email said. The IRS has rejected your federal return. This means that your return has not been filed. Here's the reason for the rejection: Error Code 1156: Tax Form - If the Primary Taxpayer Signature or the Spouse Signature of the Tax Return is significant, then it must be. show more heres what the email said. The IRS has rejected your federal return. This means that your return has not been filed. Here's the reason for the rejection: Error Code 1156: Tax Form - If the Primary Taxpayer Signature or the Spouse Signature of the Tax Return is significant, then it must be numeric and not all zeros, and the Authentication Record must be present.

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Will they definitely offset my tax refund?


I filed my tax refund on jan 22 and found out that my ssn was flagged for an offset due to a defaulted student loan. I called the collection agency and was told that they only take out what you owe as of the date that i received the letter warning me of possible offset. Therefore i will still owe the remainder. show more I filed my tax refund on jan 22 and found out that my ssn was flagged for an offset due to a defaulted student loan. I called the collection agency and was told that they only take out what you owe as of the date that i received the letter warning me of possible offset.

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The IRS Explains Why My Refund Was Less Than Expected


I am brutally honest with my taxes, so I was surprised when the IRS gave me a refund that was $210 less than I expected. I assumed that either I forgot to file a form or I wasn’t given credit for a deduction I deserved. Secretly, I was hoping that there was simply a math error, but I was fairly certain that the IRS wasn’t taking money out of my refund for no reason. I don’t believe in cheating on your taxes. it costs over $300 billion a year. But I was really curious about this missing $210, so after more than 2 months without any communication from the IRS, I finally called them to find out what was going on with my refund.

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Why your tax refund may be delayed


Counting on your tax refund to help pay off those holiday bills, or maybe pay for your spring break vacation? Millions of taxpayers may have to wait longer for those refunds this year, which is not good news if you are depending on it. Taxpayer John Schmidt said "I don't know why it would be. We all pay our taxes on time, I don't know why it should be delayed at all. " The reason? IRS Commissioner John Koskinen blames recent budget cuts of more than $300 million this year. The IRS says that means: Longer waits for IRS customer service phone help.

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Why valuation


Take a picture of your iPad. Then, drop your iPad off a 20-story building. Now, take another picture. That “before” picture doesn’t say much about the current value of your iPad. Essentially, this is the problem with business valuations. A business valuation is a detailed financial analysis that gives you an estimated range of what your company is worth. There are plenty of business appraisers out there. The reputable ones will be certified by the ASA (American Society of Appraisers), the NACVA (National Association of Certified Valuators and Analysts), or a similar organization.

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Why use turbo tax


Welcome to Richer by the Day, a blog about personal finance, investing, and all things money. Take some time to read my latest blog posts, browse the categories and archive, and subscribe to my feed via RSS or Email. You can also stay up to date by following me on Twitter. If you find the information here useful, you can help support this site by visiting our advertisers and sponsors. Thanks for visiting! At tax time, the question always comes up about whether to use software or hire someone to do your taxes for you. While this post is titled, TurboTax versus CPA, those are really just specific examples of each side of the argument.

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Why It's Worth Paying for a Tax Pro


ENLARGE Elwood Smith Mr. Fasano started the business in 2009 as a side project while working for an engineering firm. But when his wife got laid off from a government job last year, he turned it into a full-time endeavor, sensing it would prove more lucrative for his family. This tax season, entrepreneurs operating on a tight budget may be tempted to forgo professional help in preparing their companies' returns. But experts say the investment is typically worthwhile -- at least for those just starting out -- to maximize deductions and avoid penalties.

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