Have you ever wondered “Why do I owe so much in taxes this year?” What can I do to make sure I don’t end up owing a big tax bill?” OR ANY BILL AT ALL WHEN I FILE MY INCOME TAXES?” ID: 663859
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Why Do I Owe Taxes To The IRS & How To Avoid ThemSlide2
Have you ever wondered âWhy do I owe so much in taxes this year?â What can I do to make sure I donât end up owing a big tax bill?â
OR ANY BILL AT ALL WHEN I FILE MY INCOME TAXES?â
A vast percentage of Americans withhold way more from their pay because quite frankly theyâre scared of owing the IRS.
But like the guy in the picture below, burying your head in the sand will NOT help your situation.
There is a deep dark secret behind this. The federal government has been on a crusade since the 1940âs to convince all Americans that they owe the tax,Slide3
regardless of where they are employed. However, the U.S. Supreme court decision say otherwise as does the federal tax code which can be found in Title 26 United States Code.
We all have to admit (at least those that are not educated) stories of how the IRS has ruined people by taking money from their bank accounts, pay from employment, and even put some famous people in prison goes a long way to instilling a greatly wanted and needed fear and anxiety in the hearts of most Americans.
Ask yourself, why do they need you to be afraid of them?Slide4
Answer: so they can control you!
Most people overcompensate by claiming zero or only one dependent on their W-4âs just to be sure they donât get caught in the trap of owing taxes beyond what is withheld from their pay.
But this is not the answer.
Americans need to wake up and realize the truth of taxes. It really is as if we are all asleep, otherwise how could some government t agency simply say â
Fork over 1/3 of your pay to us or else!
And nearly everyone does so, and therein lies the rub!Slide5
Why is it that no one ever stops to question âDo I actually have an obligation to pay income taxes in the first place?? The government has spent a fortune to have you believe you do. Most everyone does pay them each and every year like clockwork, which helps to reinforce the idea, but that is all it isâ¦
You wouldnât pay your car note if your car was paid off and you didnât owe any moreâ¦ would you? No.
So how do we discover whether we actually owe taxes? That is the real question. The federal tax code is over 60,000,000 words long.
You have to have experts that can clearly show you how to discover for yourself whether you are liable andSlide6
who can take you safely through the process of recovering what you have already mistakenly paid in.
There are only a few reasons why you may owe federal taxes. Here are the most common reasons why people actually owe federal income taxes.
1.You are a federal or state employee
Title 26 U.S.C. section 6331 (a) clearly defines who the IRS has authority to enforce levies. It is federal and state employees. Besides that there is only a few other reasons why you could owe federal income taxes.Slide7
You have accepted and utilized certain federal privileged benefits
IRAâs, 401kâs, interest from a bank account or capital gains from stocks or bonds are some of the other reasons you could owe federal income taxes.To find out if you may be due a refund for the 3 previous tax years drop us a line at email@example.com and weâll be happy to provide you with a free consultation.Slide8
End Taxes 4 Ever offer professional tax service to our clients to ensure they are only paying the amount of taxes owed and remaining in full compliance with both State and Federal income tax laws. Our tax experts have discovered that nearly all Americans are not just overpaying on income taxes, but in the vast majority of cases they lawfully required to very little if anything at all. We give
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legally, remain in full compliance with the income tax law. Contact us by visiting our website -