Depending on your income and history working in the United States, you may be someone who rarely or never pays taxes. While it’s completely acceptable not to pay taxes under some circumstances, you still need to file a tax return in most cases. Failing to file a tax...
Year: 2021
Are you dealing with a bad business partner?
Going into business can be an exciting time for you and your partner. Whether your partner has been with you from the beginning, or they joined you when you were already on your way, your business partner has a critical role in your business. When your business...
Aiding and abetting false returns sends tax professionals to jail
Working in finance can be a great, stable career. People will always need someone to manage their retirement investments and file their taxes. Becoming a certified public accountant or a tax preparer can be a great way to start a financial career. However, a career in...
3 behaviors that could constitute tax evasion and lead to charges
Every individual and business in the United States has to pay taxes on their income. Although some taxpayers can reduce or even eliminate their tax obligations using tricky accounting, such practices sometimes cross the thin line between tax avoidance and tax evasion....
Tax liens and levies: what’s the difference?
People usually confuse tax liens with levies, but they are not the same. The Internal Revenue Service (IRS) issues tax liens and levies when a person fails to pay their tax debt. However, a lien is the government’s intention to seize your property, whereas a levy is...
When can someone contest a will in Texas?
The purpose of wills is to carry out the wishes of the deceased. Still, sometimes the will’s beneficiaries can identify problems with the way in which their loved one drafted the will. When this happens, those who have an interest in the deceased’s property can...
What to do if your spouse cheated on taxes
You found out that your spouse was cheating on taxes, and now the Internal Revenue Service (IRS) is holding you liable for a tax understatement. If you file for taxes jointly with your spouse, the law makes both of you responsible for the tax liability, even if you...
Should computers decide who gets audited?
The last two decades have seen amazing advances in technology and computer science. With machine learning and artificial intelligence leading the way, many tasks can be reliably assigned to computer programs to complete with only a small amount of human oversight. The...
What do I need to know about tax evasion?
The federal government is fierce in its requirement that taxpayers honestly pay their taxes. If the Internal Revenue Service (IRS) believes someone is trying to cheat the system, they will investigate and, depending on what they find, aggressively build a case. But...
What happens if I die without a will?
When someone passes on without having an estate plan in place, their assets become subject to the probate process. Probate can be an extremely complicated process that takes months or longer to settle an estate. During this time, the decedent's friends and family may...