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...
San Antonio Tax Law Blog
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...
What if someone can’t pay the back taxes they owe all at once?
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...
Can someone facing tax issues qualify for innocent spouse relief?
Spouses often find creative ways to share marital responsibilities. It is common for each spouse to assume certain obligations related to the household in addition to whatever economic contributions they might make. For example, one spouse might manage the household...
Where should someone store their completed estate plan?
Many adults in Texas do not bother to create an estate plan. They procrastinate or convince themselves that they don't need written instructions to help their loved ones after they die. Even those who do create estate plans do not necessarily set their families up for...
What typically happens during an IRS audit?
The Internal Revenue Service (IRS) receives millions of tax returns every year from both individuals and businesses. The IRS must review the calculations and disclosures of individual taxpayers to validate that they paid the appropriate amount in income taxes. It...