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...
San Antonio Tax Law Blog
What do recent immigrants need to know about probate?
For recent immigrants in Texas, understanding how probate works is important, especially if they have family members who pass away or if they own property themselves. Probate is the legal process by which a deceased person's estate is administered, debts are paid and...
What do I need to know about allegations of tax fraud?
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...
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...
