tax return

What Can Voters Really Learn From Donald Trump’s Tax Returns (if they are ever released)

What will we really learn If Donald Trump ever releases his tax returns? While no technical, legal requirement compels him to do so, it is but a time-honored tradition among presidential candidates acting in the spirit of full disclosure. Trump has acted like it’s not a big deal and that little, if anything, will be revealed by any divulgence. If it’s not such a big deal, why doesn’t he simply disclose them like other candidates? What might he be concerned that voters will really learn from the release of his tax returns?

  1. Trump pays little or nothing in taxes

The IRS Offer-In-Compromise Program – How Does It Really Work?

The IRS Offer-In-Compromise Program – How Does It Really Work?An offer in compromise (OIC) is an agreement between a taxpayer and the Internal Revenue Service that settles the taxpayer’s tax liabilities for less than the full amount owed. If the tax liabilities can be fully paid through an installment agreement or other means, the taxpayer, in most cases, will not be eligible for an OIC.

In order to be eligible for an OIC the taxpayer must have:

  1. filed all tax returns;
  2. made all required estimated tax payments for the current year; and
  3. made all required federal tax deposits for the current quarter if the taxpayer is a business owner with employees.

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