It is that time of year again when Alameda residents and others around the country begin to think about preparing and filing income tax returns. With tax laws constantly in flux these days it can be a good idea for many who do not normally enlist the services of a professional tax preparer to consider doing so this year. As previously reported, the fiscal cliff has resulted in a number of changes to tax law that could affect many.
Those in the Bay Area who have been following our column understand that one of the main tasks of the Internal Revenue Service of late has been to collect uncollected taxes. The IRS has been using a carrot and stick approach to fill their coffers with the money owed.
While in the midst of a presidential campaign season there is a great deal of talk about taxes. In California, we are facing two new tax-related propositions -- Proposition 30 and Proposition 38. Amid the discussions, an interesting analysis of IRS data has taken a look at millionaires and whether or not they are voting with their feet or their pocketbooks or both.