Many small businesses are slammed with tax penalties for errors that can be avoided. This article will explore these mistakes to keep you from turning out thousands of dollars in penalties...
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...
The IRS has issued guidelines on the denial and revocation of passports due to serious tax violations. The IRS must notify the State Department when a person has a "serious"...
Reconciliation is the method of verifying the accuracy and consistency of your financial statements.Reconciliation also helps identify and explain any discrepancies that may arise...
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
It's tax season! Tax return companies and DIY software vendors work hard to convince individual taxpayers that their services and products are the way to maximize tax refunds or...
One of the most stressful events in life is experiencing financial difficulty. Whether personally or in your business, it can take its toll on one's well being. It might become...
Since preparing your tax return hasn't been intimidating enough, there may be times when you need to amend a pre-filled tax return. While filling out a correct return may seem...
An Insight into Personal Use propertyUncle Sam defines personal use property as an asset or property used solely for private purposes and does not serve as an investment or business...