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...
San Antonio Tax Law Blog
How can taxpayers overcome a large income tax debt?
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...
3 reasons to avoid forcing children to take over a family business
Founding a family business comes with a deep sense of pride and legacy. If you’re like most founders of family businesses, you want your company passed down from one generation to the next. For many families, keeping a business in-house feels natural—like preserving a...
What if a taxpayer doesn’t disclose international resources?
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...
How should people store their wills in Texas?
A will is often the most important document included in a Texas estate plan. In some cases, it might be the only document a testator drafts. A will can provide instructions for the distribution of property to specific beneficiaries. Wills also allow testators to...
How far back can the IRS go for tax evasion cases?
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...
What are the main ways the IRS audits taxpayers?
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...
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...
