The United States tax system is complex, and filing tax returns accurately is crucial to ensure compliance with the Internal Revenue Service (IRS). One critical aspect of the tax return...
When dealing with complex tax matters, many individuals and businesses need clarification on whether they need the services of an accountant or a tax lawyer. Both professionals play...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 06/23/2023
The retirement account is no place to hide money from taxes because eventually, the IRS will come for their even share. RMDs stands for a required minimum distribution (RMD), which...
Posted by Pat Raskob on 11/28/2022
Almost everyone wants to send the smallest amount possible to the IRS, and there is nothing wrong with that. However, your method of reducing your tax bill might get you into trouble....
Posted by Rosovich & Associates, Inc. on 10/18/2021
A deliberate and conscientious attempt to defeat or evade federal or state taxes may result in tax evasion or tax fraud charges.It is often said that nothing in this world is certain...
Posted by Taxes Made EZ Inc on 06/18/2021
You must be a U.S. citizen, lawful permanent resident (green card holder), or pass the "substantial presence" test to be recognized as a U.S. resident for tax purposes. Some...
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...
An IRS relief procedure for certain former citizens was introduced in September 2019 to allow certain Americans to renounce their U.S. citizenship without paying taxes and fines.The...
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...