CPA Tip: Get a Basic Understanding of Your Taxes

Rick_E_Norris_An_Accountancy_Corporation_CPA_Tip_Get_A_Basic_Understanding_Of_Your_TaxesThe media has not shown the IRS in a favorable mood, lately.  However, taxes are here and you probably pay them.  Many tax questions I am asked would have been answered by the questioner if they just understood the basic premise of how our tax system work.  This understanding may have also helped these people in their personal financial decisions.
The IRS actually has a site that teaches about taxes.  The site can be used by high school teachers in instructing their students about our tax system.
The program is a free online tool designed in partnership with teachers for classroom use. The interactive tool is a great resource for middle, high school or community college students. However, anyone can use it to learn about the history, theory and application
of taxes in the U.S.
Here are seven reasons why you should consider exploring the Understanding Taxes program:
1. Understanding Taxes makes learning about federal taxes easy, relevant and fun. It features 38 lessons that help students understand the American tax system. Best of all, it’s free!
2. The site map helps users quickly navigate through all parts of the program and skip to
different lessons and interactive activities.
3. A series of tax tutorials guide students through the basics of tax preparation. Other features include a glossary of tax terms and a chance to test your knowledge through tax
trivia. Interactive activities encourage students to apply their knowledge
using real world simulations.
4. Understanding Taxes makes teaching taxes as easy as ABC:
  • Accessible
    (web-based)
  • Brings
    learning to life
  • Comprehensive
5. It’s easy to add to a school’s curriculum. Teachers can customize the program to fit their own personal style with lesson plans and activities for the classroom. They will
also find links to state and national educational standards.
6. The program is available 24 hours a day. All you have to do is access the
IRS website and type “Understanding Taxes” in the search box.
7. There are no registration or login requirements to access the program. That means people can take a break and return to a lesson at any time.
You can use the Understanding Taxes anytime during the year. The IRS usually updates the program each fall to reflect current tax law and new tax forms.
Additional IRS
Resources:
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IRS CIRCULAR 230 NOTICE: To ensure compliance with requirements imposed by the U.S.
Department of the Treasury and Internal Revenue Service, we inform you that any
tax advice contained in this e-mail (including any attachments) is not intended
or written to be used, and may not be used, for the purpose of (a) avoiding
penalties under the Internal Revenue Code or state tax authority, or (b)
promoting, marketing, or recommending to another party any transaction or
matter addressed herein.

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