Accurate reporting of income to the Internal Revenue Service (IRS) is an essential responsibility for every taxpayer. Failure to report income can result in significant penalties and...
Posted by KLSM CPA Firm PLLC on 07/02/2023
It's pretty easy to feel helpless regarding an Internal Revenue Service (IRS) audit or threat letters and accusations based on outstanding tax obligations. What is your best option...
Posted by KLSM CPA Firm PLLC on 09/20/2021
A joint tax filing return makes both parties responsible for the tax bill. It removes the need to foot additional tax debt with an innocent spouse relief if your partner or ex-partner...
Community property is a type of joint ownership of property between couples. With some variation between states, all property acquired or purchased by a couple during the marriage...
The fair treatment of taxpayers is what the Taxpayer Bill of Rights is all about. In 2014, the IRS adopted this collection of 10 taxpayer rights proposed by the taxpayer's advocate....
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
In recent months, the IRS announced that taxpayers would be able to electronically file Forms 1040-X, Amended Form of United States Individual Income Tax Return. According to...
Posted by Don Bell Law on 09/18/2020
An overview of spousal liability concerns in the world of income tax.To be able to understand this concept better, we will create a scenario where we have imaginary characters. "For...
On July 1, 2019, the Congress and the President passed the expansion and strengthening of taxpayers’ rights and the focus on cyber security and protection from identity theft...