Alternative Minimum Tax

Taxpayers Beware: Alternative Minimum Tax Could Mean Huge Hit

By Bill Fay | December 17, 2012

If you’re a taxpayer worried about Congress not extending the Bush tax cuts by Jan. 1, brace yourself: An even bigger hit – the Alternative Minimum Tax – might be…

marijuana image

Colorado, Washington Go Pro-Marijuana, Set Up Pot Fight with Feds

By Bill Fay | November 7, 2012

The war on drugs suffered a frontline defeat on Tuesday as two states, Colorado and Washington, became the first ones to legalize marijuana use. In as a stunning rejection of…

Calculating tax increase

Americans Brace for Tax Hike if Bush Tax Cuts Expire

By Bill Fay | August 24, 2012

Uncertain economic times may become even more challenging in a matter of months, as millions of Americans could face 2013 riddled with significant tax increases. If changes are not made…

tax form calculator image

IRS Relaxes Rules for Tax Debt Settlement

By Bill Fay | August 17, 2012

In response to overwhelming household debt and tax liabilities, the Internal Revenue Service (IRS) recently announced it intends to aid struggling Americans by possibly reducing their tax debt. In May…

cash image

Payroll Tax Cut Set to Expire at the End of 2012

By Bill Fay | August 8, 2012

Millions of Americans may be taking home a few less dollars next year, as a major tax cut may soon disappear. The payroll tax break, first enacted in 2010 by…

The U.S. Capitol Building


By Bill Fay | April 10, 2012

Choose Your Debt Amount AVERAGE FEDERAL TAX RATE 0% TAXES COLLECTED BY FEDS IN 2011 $0 Trillion UNPAID TAXES OWED BY AMERICANS $0 Billion Filing Taxes No one enjoys filing…