There is a reason Albert Einstein famously said: "The hardest thing in the world to understand is the income tax." As hard as it is, income tax, like death, is unavoidable. The Tax Answerbook attempts to make income tax easier to understand by presenting, in simple language, explanations of complex income tax concepts. It provides lucid answers to over 500 questions taken out of the mouths of taxpayers during a period of 20 years. A trove of knowledge on various tax topics, it aims to make you better informed about your rights and obligations under tax laws. Knowledge gained from this book will help you eliminate myths surrounding income tax and reduce the risk of finding yourself on the wrong side of the IRS. Furthermore, you will be able to keep more of the money you work so hard to make. The Tax Answerbook will allow you to:
- Hold informed discussions with your tax preparer;
- Participate in making your tax return optimal;
- Prepare your tax return with greater confidence;
- Know what to do if the IRS decides to audit you;
- Efficiently handle your IRS debts;
- Understand how your tax refund is determined and why you owe the IRS if that is the case.