The Daily Horizon

Featured Article

Will IRS audit after refund?

Your tax returns can be audited after you’ve been issued a refund. The IRS can audit returns for up to three prior tax years and in some cases, go back ev...

Read Full Article Browse education insights

Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How many types of industries can be there on the basis of raw materials used?

can have three types of industries – primary industries, secondary industries and tertiary industries. involving processing of raw materials to give input...

Is it illegal to not claim income?

Not reporting cash income or payments received for contract work can lead to hefty fines and penalties from the Internal Revenue Service on top of the tax...

Did the Supreme Court rules income tax unconstitutional?

Barely a year after it was enacted, the Supreme Court declared the tax unconstitutional. In a 5-4 ruling, the high court decided that the income tax was f...

What is New Orleans sales tax rate 2020?

The current total local sales tax rate in New Orleans, LA is 9.450%. The December 2020 total local sales tax rate was also 9.450%. Is there sales tax in N...

Which state has the lowest tax on gasoline?

Alaska had one of the lowest effective gas taxes on gas in the United States at 14 U.S. cents per gallon as of January 2021. At that same time, gas price ...

Does a hire car count as a company car?

A vehicle provided through an Employee Car Ownership (ECO) scheme is not a company car; it is the employee’s own vehicle. Where a hire or relief vehicle i...

Is deferred tax a payable?

Deferred taxes payable are dollar amounts owed to governments for income taxes to be paid in the future. Deferred taxes payable arise when a company’s inc...

What industries causes acid rain?

What Causes Acid Rain? Burning of fossil fuels to generate electricity. Two thirds of SO2 and one fourth of NOX in the atmosphere come from electric power...

How long does it take for refund status to show up?

Usually the IRS says to allow 4 weeks before checking the status of your refund, and that refund processing can take 6 to 8 weeks from the date the IRS re...