Tax Law

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...

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...

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...

Most people expect to receive a refund when filing their annual tax returns. Particularly when someone is an employee, they expect their employer to make tax payments on their behalf. They can then reconcile their tax contributions with an income tax return. The...