Business owners often have complicated income tax returns. They may have to file tax returns for the company that they operate and for themselves as individuals. Particularly when a company has had a successful year, the owner of the business may not have retained...
The Internal Revenue Service (IRS) handles paperwork related to income taxes and takes action against those who do not fulfill their tax obligations. If someone makes a mistake when filing their taxes or intentionally tried to evade their tax obligations, the IRS...
There may come a time, whether you’re filing as an individual or business owner, that you cannot afford your full tax bill. Unexpected expenses may add up, or you may find that you earned more than you expected this year. That’s okay. It happens, but you need to make...
Taxes are a frustrating and unavoidable part of adulthood. While everyone has to pay taxes, most people desperately want to pay as little in taxes as they feasibly can. Most adult taxpayers will engage in some amount of tax avoidance to keep more money in their...
For many people, an audit by the IRS is among their greatest fears. The media loves to make an audit seem like a nightmare that can only have a negative outcome for the person under scrutiny. However, with the right help and a careful review of your financial records,...
When reading the letter from the IRS alerting you of a business audit, it’s normal to get nervous. Even if you and your advisers had the best intentions when paying taxes, an audit can surprise you. You may start to wonder if an undetected miscalculation could...