However new IFS analysis improves on the ONS’s methodology and finds that the tax system is in fact progressive. Our key results include: The system of di...

Lawsuit proceeds are usually taxed as ordinary income – they’re not subject to a special tax percentage rate just because the money comes as the result of...

24K gold contains 99.9% gold whereas 22K gold contains 91.7% gold. When you are buying a 24K gold coin/bar, always look for a hallmark certification to en...

While California generally treats registered domestic partners and married couples equally in terms of rights and responsibilities, the federal government...

The Law: The requirement to pay taxes is not voluntary. Section 1 of the Internal Revenue Code clearly imposes a tax on the taxable income of individuals,...

A country that imports more goods and services than it exports in terms of value has a trade deficit while a country that exports more goods and services ...

The Commerce Clause refers to Article 1, Section 8, Clause 3 of the U.S. Constitution, which gives Congress the power “to regulate commerce with foreign n...

The Sixteenth Amendment (Amendment XVI) to the United States Constitution allows Congress to levy an income tax without apportioning it among the states o...

Put simply, payroll taxes are taxes paid on the wages and salaries of employees. Half of payroll taxes (7.65 percent) are remitted directly by employers, ...

Taxpayer B has a valid SSN, but Taxpayer A does not qualify for an SSN. Instead, the Taxpayer A has an Individual Taxpayer Identification Number (ITIN) wh...