TaxCure Blog

When it comes to the push and pull around taxes, many feel as though small businesses get left out. Small business owners are among the first to
tell you that they aren’t usually considered when lawmakers create tax policy. The 2015 Small Business Attitudes on Taxes survey was recently
released by Endurance International Group, and it takes a look at how small business owners feel about taxes and tax reform.

We all know the tax code is complex. In fact, many of us think that the tax code is needlessly complex. An annual study of the tax code’s complexity and its costs was recently released by the National Taxpayers Union Foundation (NTUF). This study takes a look at the costs associated with tax code compliance. The latest numbers indicate that the economy lost $233.8 billion, thanks to 6.1 billion hours of lost productivity, due to tax code compliance.

The main tax season has come to an end, and many consumers are waiting for their tax refunds. The average tax refund this year (with data through April 17) indicates that the average tax refund was $2,711. That’s not a bad chunk of change.

When we think of tax fraud, often our minds jump to activities like under-reporting income and overstating deductions and credits. Sometimes, we also consider fraudulent actions like identity theft. Many scam artists use others’ Social Security numbers to claim their refunds. However, another form of tax fraud is a concern to the IRS: It appears that people use old Social Security numbers to file taxes — and claim refunds.