Inside the Variable Interest Rate.

The term “Inside the Variable Interest Rate” refers to the interest rate that a borrower will pay on a loan that has a variable interest rate. This interest rate is based on the prime rate, which is the rate that banks charge their best customers. The prime rate is usually about 3% higher than the … Read more

What Is Voluntary Compliance?

Voluntary compliance with the tax laws is the cornerstone of the self-assessment system. It is crucial to the success of self-assessment that taxpayers voluntarily comply with their tax obligations. Voluntary compliance means that taxpayers comply with the tax laws without the need for the IRS to constantly monitor and enforce compliance. The IRS relies on … Read more