Free Tax Law Facts

Our free tax law facts section covers basic taxation facts with regards to the different levels of government that may levy taxes.  Taxing authority is available to municipalities, counties, regional service entities such as school districts, State governments and the federal government.

The federal government levies many taxes including income tax, estate tax, import duty, excise taxes and a myriad of other special taxes and fees.  Income tax on individuals, corporations and other entities is the primary source of revenue for the U.S. Government.

States and local governments, on the other hand, collect most of their taxes from a combination of real property tax, personal property tax, sales tax and income tax.  In some places, residents may pay income taxes to federal, state and city governments.

Concurrent with income taxes, the federal government also collects FICA or social security taxes and Medicare taxes.  These taxes fund two of the ever growing entitlement programs created by the U.S. Congress.  The social security system technically is not an entitlement program since the original intent was a for a forced retirement savings plan a worker would fund over his or her lifetime.  Unfortunately, unscrupulous Congresses over the years spent the money workers saved and today social security payments for retired workers are funded by the payments of those still working in a never ending Congressional ponzi scheme.

Taxation Best Sellers from Amazon.com

J.K. Lasser's Your Income Tax 2010: For Preparing Your 2009 Tax Return
by J. K. Lasser
Amazon Price: $13.39
Customer Review: This book has a LOT of tax information in it, almost TOO much. I do tax returns on the side and use this as my reference guide instead of constantly looking things up on the internet. The explanations and examples are written so that anyone can und...
 

Return to Prosperity: How America Can Regain Its Economic Superpower Status
by Arthur B. Laffer, Stephen Moore
Amazon Price: $17.82
Customer Review: So many views on economics; so many theories.
Supply-siders will like this book, Non Supply-siders will not. Disclaimer: I am a Reagan/Laffer Supply-sider and I like this book. I did not read this book to bolster my own views but rather to s...
 

Estate Planning Smarts: A Practical, User-Friendly, Action-Oriented Guide
by Deborah L. Jacobs
Amazon Price: $13.57
Customer Review: Estate Planning Smarts eases the reader into a subject that is often difficult by focusing on an underlying purpose of estate planning: taking care of yourself and those you love. In this context, the Ms.Jacobs discusses the documents and tools that ...
 

Ernst and Young Tax Guide 2010 (For Preparing Your 2009 Taxes)
by The Tax Partners and Professionals of Ernst and Young LLP
Amazon Price: $13.57
Customer Review: The EY tax guide is my go to guide for many, many years. It provides details not found in the other tax guides that I find very helpful and essential when preparing returns. The book is easy to use and is broken up in a way that makes sense of the ...
 

U.S. Master Tax Guide, 2010
by CCH Tax Law Editors
Amazon Price: $84.00
Customer Review: I am a Canadian tax lawyer and purchased the US Master Tax Guide to get a basic introduction to US taxes (in conjunction with a copy of the Code).

The Guide is great value as it packs quite a lot of information into a relatively small bo...
 

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Taxation News
GN News

• Lawmakers More Open To Tax Hikes Kansas.com
Kansas.comLawmakers more open to tax hikesKansas.comWhere it is: The House Taxation Committee sent the bill to the House for debate. Impact: The bill would increase the tax on a pack of cigarettes from 79 Senators To Hear From Supporters Of Sales Tax Increase ThursdayKWCHKansas panel tables alcohol tax, okays tax incentivesKansasReporter blogStatehouse Live: Committee says no to tax increase for disabled, yes to tax Lawrence Journal WorldKOAM TV Topeka Capital Journal Kansas City Starall 23 news articles raquo
• Tobacco Tax Criticized Topeka Capital Journal
Hutchinson NewsTobacco tax criticizedTopeka Capital JournalAs the Senate Taxation Committee considered hikes to the state39s cigarette and tobacco taxes Wednesday, he joked that he considered wearing a big bull39s eye Tobacco tax plan hurts mom and pop stores, opponents sayKansasReporter blogKan. Senate debates tax increasesPittsburg Morning SunSenate weighs taxes on pop, cigarettesKansas.comThe Associated Press KOAM TV Kansas City Starall 106 news articles raquo
• Idaho Panel Will Consider Internet Sales Tax Push New York Times
Idaho Panel Will Consider Internet Sales Tax PushNew York TimesBy AP BOISE, Idaho AP The Idaho House39s famously tax leery Revenue and Taxation Committee voted to at least consider joining a nationwide push aimed at and more raquo
• Nev. Governor Candidate Brian Sandoval Lauds IB, Pledges Taxation Equalizatio...
Nev. governor candidate Brian Sandoval lauds IB, pledges taxation equalizationNorth Lake Tahoe BonanzaNevada gubernatorial candidate Brian Sandoval spoke to a large crowd during a meeting of the Incline Village Crystal Bay Republican Women Alcohol sting: Four Incline businesses fail, cited for selling to minorsNorth Lake Tahoe Bonanzaall 4 news articles raquo
• Localaposs Play Hits On Ethnicity And Taxation Daily Camera
Local39s play hits on ethnicity and taxationDaily CameraLAFAYETTE Take a deep breath: The play quotPostvillequot is the story of Hasidic Jews refusing pork barbecue from naive