I have enclosed a link to an article from the Tax Lawyer’s Blog on how the IRS and State tax agencies are utilizing social media sites
such as Facebook and LinkIn to gather information on taxpayers. Please click on the link to read the article.

http://blog.pappastax.com/index.php/2010/03/17/irs-uses-twitter-facebook-and-google-street-map-to-catch-tax-cheats/#more-15343

Tags: Income Taxes, Personal Finance

Although not a recent post I came across  a post from I a blog I follow.   http://blog.pappastax.com/index.php/2009/07/30/who-pays-taxes-top-1-of-pay-more-than-bottom-95/

The link will take you the Tax Lawyers blog site where a full summary of the article can be found. These statistics are an eye opener and really shows the unjust burden of the Top 1% of income earners in the US have to bear.

Here are some of the Highlights:

• The top 1% of taxpayers paid 40.4% of all taxes collected by the federal government. This is the highest rate in modern history.
• The share of the tax burden borne by the top 1 percent now exceeds the share paid by the bottom 95 percent of taxpayers combined.
• the top 1 percent is comprised of just 1.4 million taxpayers and they pay a larger share of the income tax burden now than the bottom 134 million taxpayers combined.

If you have any questions concerning your personal tax situation or would like to discuss how we can help you save on your taxes please contact our office.

Respectfully,

Michael Dolezal CPA

Tags: Income Taxes