Welcome to TaxFirm.com’s Tax Blog!

We will be updating this blog frequently with tax information that we think is helpful to tax practitioners, clients, and taxpayers throughout the United States.

During the past year, the Internal Revenue Service launched “the fresh start initiative,”  which revises some of their policies regarding payment plans, tax liens, etc. and is targeted at helping financial struggling taxpayers.  This blog will discuss these initiatives as well as other important issues relevant to taxpayers.

  • Carolina

    I agree there needs to be tax reform. When 50% of the public pays no taxes, that is a problem. If we could lower the top rate and broaden the base, cut corporate subsidies (especially boondoggles like ethanol), and then reform entitlements, I think we can get there. We need a growing economy to make the numbers work, but we also have to cut government spending, and that is hard to do when so much of the public pays no taxes. When we hammer the over $250,000 per year people with higher taxes, we hit small businesses that are sole proprietorships. Job creation is our problem; job destruction is what the current administration produces with its heavy-handed approach to regulation, endless extended unemployment benefits, and crazy health care schemes. Why is all of the money on the sidelines? Because we hammered the small banks with Dodd-Frank while leaving Fannie Mae and Freddie Mac untouched. We bailed out car companies and Wall Street, and used stimulus to pave roads that didn’t need paving, initiated Cash for Clunkers, Dollars for Dryers and other kooky ideas, and drove ourselves into unsustainable debt. We need a new president, and then a fresh, thoughtful approach to deficit reduction and economic growth. Sorry academia, the last presidential election will go down as one of the most profound blunders the American voters have ever made.

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