CFO Financial Services

https://taxfoundation.org/state-federal-aid-reliance-2020/ I like TAXFOUNDATION.ORG, they put out some interesting analysis of our tax system.

I started preparing other people's tax returns while I was in high school (that's some time ago). I guess that it was a knack I had or maybe nobody else wanted the job so I kind of volunteered. Back then I would use a pencil on the paper forms because there was invariably erasing to be done whilst finding one's way through the labyrinth of forms. To be continued...I am still preparing tax returns for individuals, businesses, corporations, etc. I have upgraded to a computer. ;-)

IRS: Rushing to file taxes can result in errors, use e-file, file extension if needed WASHINGTON As the April tax-filing deadline nears, many taxpayers may rush to finish their tax returns or find they need extra time to get them done. The IRS recommends that taxpayers file for an extension if they need one. Filing an extension will help taxpayers avoid paying penalties for filing a late return. Extensions provide more time to file, but not more time to pay any tax owed.... https://www.irs.gov//extension-of-time-to-file-your-tax-re The deadline to file 2018 individual tax returns and pay taxes owed is Monday, April 15, 2019, for most taxpayers. Because of the Patriots’ Day holidays on April 15 in Maine and Massachusetts and the Emancipation Day holiday on April 16 in the District of Columbia, taxpayers who live in Maine or Massachusetts have until April 17, 2019, to file their tax returns. Mistakes can happen when hurrying to file a tax return by the due date. This can mean longer processing times and possible tax refund delays. Electronic filing is the best way to avoid common mistakes and file the most accurate tax return; it is also the most accurate way to file a tax return. The IRS estimates that about 70 percent of taxpayers can file their tax return at no charge by using IRS Free File software. https://www.irs.gov//free-file-do-your-federal-taxes-for-f

How High Are Income Taxes In Your State? https://files.taxfoundation.org/201/PIT-2019-FINAL.F-01.png

https://taxfoundation.org/corporate-income-taxes-per-capi/

https://taxfoundation.org/income-tax-per-capita-2019/

WHAT ARE THE CHANCES OF BEING AUDITED BY THE IRS? Out of the 150 million taxpayers who filed in 2017, here are the IRS statistics on who experienced an audit: Form 1040 taxpayer types, in descending likelihood of audit Returns audited... International taxpayers 1 in 19 Taxpayers with gross income before deductions of over $1 million 1 in 23 Sole proprietors with gross income before deductions between $100,000 and $200,000 1 in 48 Sole proprietors with gross income before deductions between $200,000 and $1 million 1 in 64 Taxpayers with self-employment income under $25,000 who claim the EITC 1 in 72 OVERALL INDIVIDUAL AUDIT RATE 1 in 161 Farmers 1 in 228 Wage earners who make under $200,000 and don’t claim the EITC (65% of taxpayers fit this category) 1 in 364 The IRS is focusing its audit resources on areas where it knows taxpayers are traditionally noncompliant: small businesses, international taxpayers, high-wealth taxpayers, and possible Earned Income Tax Credit fraud schemes. Traditional wage earners who have traceable income reported on Forms W-2 face much less scrutiny. See more

https://taxfoundation.org/state-local-tax-collections-per/

https://taxfoundation.org/federal-aid-reliance-rankings/

https://statetaxindex.org/

https://statetaxindex.org/ Check out how your State compares to other States in regards personal income taxes.