// economy
What are the rights of the 16th amendment?
The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment among the several States, and witho...
14 Jan 2026 10 views
Economy
// economy
Does being audited delay your tax return?
You’re under audit from an earlier year: The IRS can delay your tax refund until it completes any audits. This is most common when the IRS is conducting a...
14 Jan 2026 8 views
// economy
Why are nonprofit organizations exempt from income taxes?
Why are nonprofit organizations tax-exempt? All nonprofits are exempt from federal corporate income taxes. Nonprofits are, of course, not exempt from with...
14 Jan 2026 8 views
// economy
Who has power to levy taxes?
The Congress C1. 1 Taxing Power. Article I, Section 8, Clause 1: The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to p...
14 Jan 2026 8 views
// economy
What is transferable tax?
A transfer tax is a charge levied on the transfer of ownership or title to property from one individual or entity to another. It is usually not deductible...
14 Jan 2026 9 views
// economy
What does FUTA mean?
Federal Unemployment Tax Act The Federal Unemployment Tax Act (FUTA) is a piece of legislation that imposes a payroll tax on any business with employees. ...
14 Jan 2026 9 views
// economy
Is the W4 replacing the W-2?
You fill out a W4 form when you start a new job you can contact your HR office to update it at any time of the year should your circumstance change) and y...
14 Jan 2026 11 views
// economy
What is FIT and GIT?
FIT and GIT are the terms used by the employees in the Tourism industry for the holiday packages. FIT stands for Free Independent Travelers and GIT stands...
14 Jan 2026 11 views
// economy
Can I claim medical expenses from 2 years ago?
You can claim medical expenses for a 12 month period only each year. If you have previous amounts you haven’t claimed from past years, you may file an ame...
14 Jan 2026 8 views
// economy
Do ROTH IRAs lower your taxable income?
Yes, you can lower your taxable income and your tax bill by contributing to an individual retirement account (IRA). How will a Roth IRA affect my taxes? R...
14 Jan 2026 9 views