Tax Law

One common method of tax evasion is using nominee names to conceal income and avoid paying taxes. This illegal practice involves using someone else's name or identity to hide one's own income and assets, making it difficult for tax authorities to track and collect...

The government takes tax fraud accusations seriously and will conduct a thorough investigation if they believe they have a case. Tax authorities, such as the IRS and state taxing agencies, use various methods to detect fraudulent activities. Three of the most common...

There are many ways that people could end up with income tax debt. For example, they may have switched professions and begun working as an independent contractor. They may not have realized they had to set money aside to cover their taxes and have inadequate savings...

Filing a federal tax return can be a complicated process. The more resources an individual accumulates and the more they diversify their portfolio, the more forms they likely have to submit to the Internal Revenue Service (IRS). People have to disclose their assets...

Most taxpayers try to minimize what they pay in federal taxes, but some people cross the line. Tax evasion occurs when people intentionally attempt to avoid responsibility for income tax obligations. Tax evasion could involve understating personal income, taking...

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...

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...

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...

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...

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...