Law Slides

Guide to a wide range of legal issues relating to law including family law, privacy, corporate law, public law, legal malpractice and product liability.

Labor And US Employment Laws.

Immigrants came to the US because they believed they had a chance to make a better life for their families, but recent changes to the Equal Opportunity Employment Act will make it more difficult for them to find suitable employment. In order for US citizens to get hired they will need to learn exactly what is required of both potential employers and themselves before they go through the application process.

Navigating Through Real Estate Law.

You may be looking forward to owning your first piece of property, but you should know what to look out for before you make a purchase. Working with a real estate agent can help you to avoid the most obvious pitfalls, but you must learn how to rely on your own instincts as well. Educate yourself on real estate law and locate the best property for your lifestyle.

US Tax Laws And Penalties.

Although many view paying taxes as a hassle, they are essential for the continued operation of social services, local governments and public school systems. There are stiff penalties for those who attempt to avoid paying their taxes, but some taxpayers do make genuine mistakes when they underpay their taxes. Learn what your rights are when it comes to tax codes and laws.

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US Tax Laws And Penalties

Virtually every country has a set of tax laws that require its citizens and businesses to pay a portion of any income earned. Most have created federal agencies that oversee and enforce these rules to the fullest extent of the law. Those that choose not to pay taxes on income derived from the sale of property, investments and other forms of wealth face penalties that range from fines to imprisonment. Some jurisdictions require employers to deduct a portion of their employees' salaries from each paycheck earned while others require each individual employee to make yearly and quarterly tax payments. People are taxed at different rates according to their yearly salaries. In the United States, certified tax accountants (CPAs) review and advise citizens on their estimated tax contributions as well as educate them on potential deductions.

Tax evasion is a crime that entails falsifying financial records in an effort to avoid paying taxes. Sometimes the IRS views this as a simple oversight, but if there is evidence that suggests willful wrongdoing then criminal charges may be filed. Periodically, individuals are audited by the IRS where their tax records are reviewed and scrutinized closely. Tax lawyers are hired by corporations to assist them with figuring out their tax liabilities. Income earned through international transactions are taxed at a different level than domestic trades.

Most products and services are subject to state and federal taxes due at the time of sale. Business owners need to keep detailed records on their transactions and turn over all collected sales taxes to the IRS and their state treasury. Underreporting the number of sale made can result in the forfeiture of property, criminal charges and in some instances, the revocation of licensing. Many federally run agencies are funded with money collected from income and sales taxes, which is why the IRS and other tax agencies go through great lengths to collect all taxes that are due. Some taxpayers elect to file for extensions, which will allow them to pay their taxes over an extended period of time. Every year, Americans file their tax returns for the previous year. April 15th is the official cut off date, but extensions will be allowed so long as they are filed in the days proceeding. Tax preparation companies and CPAs offer their services to businesses and individuals during this time of the year, but some elect to prepare their taxes on their own.

03.03.2010. 14:20


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