Receiving a letter from the Internal Revenue Service (IRS) advising of an upcoming audit is a frightening experience. Most taxpayers do everything in their power to remain compliant with tax laws while simultaneously trying to limit how much they pay. Sometimes, all...
San Antonio Tax Law Blog
Is that a great tax saving strategy, or tax fraud?
In today's complex financial landscape, individuals and businesses are wise to strive to minimize their tax liabilities. It is important to walk the line between illegal tax maneuvers and savvy tax saving strategies wisely. Slip up, and you could find yourself facing...
Are digital or holographic wills valid in Texas?
As technology has advanced, so have the options for estate planning. People may find themselves considering using a digital estate plan instead of drafting physical documents. They may even try to prepare and execute the documents without support. Downloading...
What happens if I forget to pay the IRS payroll taxes?
When a business withholds payroll taxes but fails to remit them to the IRS, it faces serious repercussions. It is important to take immediate action after receiving a notice from the government. This situation not only impacts the financial health of your business but...
3 ways the IRS can collect on a past-due tax debt
Receiving an unexpected letter from the Internal Revenue Service (IRS) can make someone's heart stop for a second or start pounding like they just ran a mile. They may feel incredibly anxious about the possibility of criminal charges or financial consequences. The IRS...
Can I really go to prison if I make a mistake on my tax returns?
Even the simplest tax returns are complex legal documents that are difficult to navigate. Add in other factors like business ownership or foreign assets and it is easy to see how a simple mistake could lead to big concerns. One possibility: imprisonment. It is...
Does the IRS ever reduce the amount of past-due taxes owed?
Income tax debts are notorious for increasing rapidly. The Internal Revenue Service (IRS) doesn't just collect the initial amount owed due to mistakes on an income tax return. Taxpayers face both interest and penalties that can add thousands of dollars to the final...
Self-employed professionals are at elevated risk of tax issues
For most working adults, taxes are only an issue they consider once a year. Sometime between January and mid-April, they either go to a professional or sit down with specialized software to file a tax return. The process of filing a tax return helps validate the...
Why stepchildren may make an estate update necessary
Discussions about estate planning when starting a blended family often focus on protecting one's children. Remarried parents often need to plan carefully to ensure that their children receive an appropriate portion of their estate when they die. New spouses may...
What are the witness requirements for a Texas will?
A will is a legal document that communicates someone's wishes about their estate to others. Wills can guide the Texas probate courts and the family members of an individual when arranging for their memorial service, caring for their dependents and distributing their...