Tax Attic

April 16 is among my most favorite days of the year. Of course, for tax professionals, that’s the day after the last day of the tax season. Another tax season, my thirty-fourth, is in the books, so to speak. Over the years, I have developed a routine of sorts. I’m a fisherman that lives on […]

Tax Attic

Now that the Pope has set a modern precedent by resigning, I wonder if our Supreme Court Justices will take a look at his action and think about instituting a retirement age for the Supreme Court. If the Pope can admit that age takes its inevitable toll, why can’t that same rule apply to the […]

Tax Attic

Earlier this month, we celebrated an important 100-year anniversary. On February 7, 1913, the Sixteenth Amendment to the Constitution was ratified. All amendments to the Constitution are important, of course, but this particular amendment was huge. In effect, it opened the door to the eventual explosive growth of our federal government. Up until February 7, […]

Tax Attic

This is among my favorite weeks of the year. No, it’s not because we are almost one-half of the way through the tax season, although that is an important milestone for all of us at Action Tax. No, it’s not because it seems like winter is winding down. I like boats but it’s not because […]

Tax Attic

The Earned Income Tax Credit (EITC) is one of the largest refundable credit programs administered by the Internal Revenue Service (IRS). In 2011, 27 million taxpayers claimed 62 billion dollars of EITC via their income tax returns equating to an average of approximately $2,200 per claim. The IRS estimates that four out of five taxpayers […]