Tax-day trivia to make your April 15 a little more fun

Several states, primarily in the southeastern part of the country, have annual sales tax holidays. Depending on the state and date, clothing, footwear, guns, school supplies, energy-efficient appliances, and other select items are exempt from sales tax for two to three days a year.

The next time “His Airness” played in Los Angeles, the money he made on those games was officially subjected to the California State Income Tax. Since that time, https://turbo-tax.org/a half of the states in the union have adopted a Jock Tax, taking a cut from high-paid heroes, and putting the added resources to work for local communities.

largest cities without a major sports team

But more to the point, if you earn $250,000 per year and the government taxes you at 49.6% , it will take you 129 million years to pay off the current debt. If you earn a million dollars per year and your entire salary went to the government in taxes, you would have to work for 16,000 years to pay off the current debt. Went to the government in taxes, you would have to work 160 million years to pay off the current debt. If you need a seeing-eye dog or an animal that helps you cope with other medical conditions, you can deduct the expenses. The catch is that your total medical expenses need to be more than 7.5% of your adjusted gross income.

I thought that would be an easy one because it’s been around a long time, like Bob said, and I actually quoted that in my application when I applied for the LLM program at Georgetown. I guess it worked because they took me, or they were desperate, either way. I tried to pick some good ones from the book.

We Had One of the Highest Corporate Tax Rates

Read about him and other famous tax cheaters and tax evaders. Many people have reported receiving phone calls from the IRS Fraud Division. The caller typically asks for personal information, or tells the victim tax day trivia that they have to send money to the IRS and provides an address.The IRS will only contact you by mail! See information on fake IRS phishing scams. The Child Tax Credit or CTC has been a part of the U.S.

• Casinos and other sponsors of poker tournaments are generally required to report gambling winnings to the Internal Revenue Service.
• Find out about these and other unusual but legitimate tax deductions.
• I was referred to Tax Facts in 2001 by a co-worker who insisted that Penny could maximize my returns because she knows the tax laws better than H&R Block who I used for many years prior.
• An “innocent spouse,” in tax terms, is one who is not responsible for their spouse’s or ex-spouse’s tax debts from a previously filed joint return.
• I’m not sure they actually called it the IRS, but there was a type of income tax around during the Civil War.

Professional athletes have to file in their home state as well as in every state where they played. It becomes even more complicated for players who have homes in multiple states, or who are traded to a different team partway through the year. Be sure to read on before you file—something you learn here could easily save you some money this April. Or, when done editing or signing, create a free DocuClix account – click the green Sign Up button – and store your PDF files securely. Or, click the blue Download/Share button to either download or share the PDF via DocuX. The IRS will never threaten to call local police or law enforcement groups to arrest you for not paying. The IRS never demands immediate payment and all tax bills are mailed.

Popular Tax Topics

Taxes, after all, are how people pay for many of the public services they benefit from every day, including firefighters, public schools, federal employees, libraries, and public television. Taxes have also been so reviled as to start massive uprisings, revolutions, and war. The IRS is no longer giving the option to obtain online and enter IRS eFile PINs to e-file tax returns. You will need to enter your prior-year Adjusted Gross Income, or AGI, to verify your identity with the IRS. If you do not know your AGI from last year and you do not have a copy of your last year’s return, you can get the information online or get a transcript of your prior year return from the IRS. Additionally, taxpayers can acquire an IRS IP-PIN in order to enhance the security of e-filing.

2 of the states shown do have taxes on certain common investment income – New Hampshire and Tennessee. Alaska not only doesn’t have an income tax – they pay you to live there. Find out how to claim your undelivered tax refund check. While this tax directly led to the bricking up of many windows, it also eventually led to a fair and less arbitrary income tax that honed-in on wealthier citizens. In 2016, 74.2% of returns received refunds to the tune of $297B and the average tax refund was $2,750.

Tag: tax trivia

Filing paperwork is nearly a thing of the past. The IRS began offering e-filing in the mid-1980s to cut down on costs. Today, 90% of all taxpayers use e-filing through services like Turbotax or TaxSlayer.

• The following are just a few of the most interesting taxes in the United States, and abroad.
• France is eager to use this revenue to support artists and online cultural information centers for citizens of France.
• However, residents of the International Space Station are technically out of the country, so they trigger an automatic two-month extension.
• “Literally, in the aftermath of World War III we would continue to collect taxes,” Frost says.
• Mob boss Al Capone ran a criminal enterprise and regularly ordered hits on his enemies—but he wasn’t sent to prison for murder.
• Today, 90% of all taxpayers use e-filing through services like Turbotax or TaxSlayer.

The IRS is the world’s largest accounting and tax-collection organization. Texas has a “pole tax” which is a tax on strip clubs, peep shows, and nude dancing.

Since then, over a billion dollars has been collected for various candidates running for President of the United States. The Social Security Act was signed into law by President Franklin D Roosevelt in 1935, and the first Social Security numbers went into effect in 1936. However, a number of case studies have demonstrated that these types of information can narrow the search and help discover a person’s identification. Every molecule in our bodies is made up not just of different elements, but of different ratios of stable isotopes of those elements. They leave an isotopic signature that can speak for the dead, revealing diet, birthplace and travel history. By the way, if you decide to follow their lead and leave the U.S. for tax-protest reasons, be aware that you’ll face a steep charge.