Financially Wealthy

Are Income Taxes Going Away Many people wonder if income taxes are going away, especially when politicians talk about tax cuts, tax reform , tariffs , flat taxes, national sales taxes, or simplifying the IRS . The idea sounds appealing: no more complicated tax returns, no more payroll withholding, no more April filing stress, and more money left in every paycheck. But under current United States law, income taxes are not going away. As of July 13, 2026, federal income taxes still exist, taxpayers still have filing requirements , and the IRS continues to publish filing guidance, tax brackets , standard deductions , and inflation adjustments for each tax year. The IRS released tax year 2026 inflation adjustments showing federal income tax brackets and standard deduction amounts, including a top individual income tax rate of 37 percent for high-income taxpayers. That alone shows the federal income tax system is still active, not disappearing. That does not mean tax laws never change. Co...

The question “Are income taxes voluntary?” is one of the most common tax myths in the United States. Many people hear the phrase “voluntary compliance” and assume it means paying income tax is optional. Others believe filing a tax return is only required if a person chooses to participate in the tax system. Under current U.S. law, that interpretation is wrong. Income taxes are not voluntary in the sense of being optional. If a person meets the legal filing requirements, they must file a tax return. If they owe tax, they must pay it. The word “voluntary” in the U.S. tax system refers to the fact that taxpayers generally calculate, report, and pay their own tax first, instead of the government calculating every taxpayer’s bill from the beginning. The IRS explains that “voluntary” means taxpayers determine the correct amount of tax and complete the proper returns, but the requirement to file an income tax return is not voluntary. This distinction matters because misunderstanding it can le...

The question “Are income taxes unconstitutional?” has been debated for more than a century, especially by people who dislike the federal tax system or believe the government has gone beyond its authority. The simple answer under current United States law is no. Federal income taxes are not unconstitutional. The Constitution gives Congress taxing power, and the Sixteenth Amendment specifically gives Congress power to tax incomes without apportioning the tax among the states according to population. That does not mean every tax rule is simple, fair, or popular. It also does not mean every tax dispute is automatically wrong. Taxpayers can have legitimate questions about deductions, credits, business expenses, filing status, penalties, audits, and how tax laws apply to specific situations. But the broad claim that “income taxes are unconstitutional” has been rejected repeatedly by courts and is treated by the IRS as a frivolous tax argument when used to avoid filing or paying taxes. This a...

Retirement does not always mean the end of earning money. For many people, retirement is a new season of life where income becomes more flexible, more personal, and more connected to lifestyle goals. Some retirees want extra money to cover rising expenses. Others want to travel, help family, pay off debt, stay active, build savings, or simply enjoy meaningful work without returning to a full-time career. Earning income after retirement can be a smart way to create more financial comfort. It can help protect your savings, reduce pressure on retirement accounts, and give you more freedom to enjoy life. The key is choosing income ideas that match your energy, schedule, health, skills, and financial needs. Some retirees prefer part-time jobs. Others choose consulting, freelancing, online work, rental income, teaching, selling products, pet care, local services, or turning hobbies into money. There is no single best path for everyone. The right choice depends on how much you want to earn, h...