Tri Check Inc.

As reported by the Tax Foundation, Americans collectively paid $5.2 trillion in federal, state, and local taxes in 2019. That is more than the combined cost of food, clothing, and housing.

Do you know that filing a fraudulent tax return is a felony and a form of fraud in the eyes of the IRS? It carries up to $100k in fines and up to 3 years in prison.

Many taxpayers live in fear of an audit. But do you know that only less than 1% of tax returns actually get audited? High earners and those who report no income are more likely to get audited.

Deductions help workers lower their taxable income, yet only 30% of households take advantage of this. You can take deductions for charitable contributions, property taxes, and medical expenses that exceed 10% of your adjusted gross income.

Did you know the first income tax in the U.S. was imposed in July 1861 to help pay for the Civil War? The current income tax system was enacted into law in 1913 before the beginning of World War I.

"Taxes are how we pool our money for public health and safety, infrastructure, research, and services--from the development of vaccines and the Internet to public schools and universities, transportation, courts, police, parks, and safe drinking water." - Holly Sklar

Do you often find it difficult to pay for your taxes quarterly? If yes, make it a monthly installment instead. This way, you’ll be able to save for your tax payments just like any other monthly expense.

Do you need to pay taxes on Bitcoin profits? Yes! If you sell Bitcoins and earn a profit, this will be considered a part of your gross income and will be subject to income tax.

Federal tax returns were not always due April 15. In 1913, March 1 was the final date; in 1918 it was March 15; and finally, in 1954 the current Tax Day was enacted.

"Taxation according to income is the most effective instrument yet devised to obtain just contribution from those best able to bear it and to avoid placing onerous burdens upon the mass of our people." - Franklin Roosevelt

For business owners, every single second counts. You can always trust a tax preparation and planning professional to help you with taxes so you save as much as 20 hours-- time that can be spent on more important concerns.

Not everyone has the education, experience, and certification to be classified as an expert tax preparer and planner. Only a professional will have the necessary credentials to assess your tax situations and give you sound advice when needed.

Planning for your future is easier with the help of a tax planner and preparer. You can trust an expert to help you strategize in light of the financial changes you’re anticipating in the years to come.