Archive for July 18th, 2013

Tax Problems Are Not Easy To Deal With, Be Prepared, Do Your Research

Problems of income tax

Taxes have been used for hundreds of years. Prior to 1776, the American Colonies were liable to taxation by the United Kingdom. In 1787, the United States Constitution authorized the government to collect taxes and required some types of tax revenues to be given to the states, proportionate to population. Soda drinks are now being taxed in some areas. In Chicago, soda drinks are taxed at 3 percent if it comes in a bottle or can, and at 9 percent if it is a fountain soda drink.

To help with IRS tax problems of today, there is the OIC or Offers in Compromise. Offers in Compromise allows the taxpayer to repay as much debt as they can in five to twenty four months, and in return the IRS will write off the individuals outstanding Internal Revenue Service liabilities.

Problems with income taxes are a very

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