Divorce Tax Issues - What you Need to Know if you are going through a Divorce Family law attorneys have a very difficult job and they have to deal with many things including divorce tax issues. Typically it starts with having one issue, and that is getting the divorce that you are after, but it can unravel into many other issues including those that involve taxes.Figuring out the Divorce Tax IssuesThe first thing you will face...more
Putting up a Good Defense against Tax Crimes What is the worst thing that can happen when you fail to file your tax returns? You may face incarceration as well as thousands of dollars in fines for this. The US tax structure is mostly dependant on voluntary filing of returns. However, if you think that this makes it easier to cheat on your taxes, you had better think again. If you think, or know, that you are the subject of an...more
What to Do When You Need Help With Back Taxes That You Can't Pay Forget about the FBI or the CIA. The IRS is easily the most feared government agency in the U.S. Created in 1862 by Abraham Lincoln, the Internal Revenue Service is responsible for collecting taxes and enforcing the Internal Revenue Code. Few Americans are aware of the fact that income tax was enacted to cover the cost of war expenses during the Civil War. As critics are quick to point out, income taxes are not mentioned in the original Constitution. After all, the Founding Fathers were fighting against excessive and unreasonable taxation. But whether we like it or not, the Sixteen Amendment to the U.S. Constitution (1913) gave the government the legal right to collect personal income taxes. It also made it a crime for any citizen to refuse to pay his taxes. According to the IRS, about one percent, or 13 million taxpayers are audited each year. An audit is authorized when the IRS determines that an individual taxpayer erroneously claimed deductions or exemptions, or failed to report income. IRS examiners will review your tax return and may ask you to provide documentation to support your claims,...more
Need Help Settling Overdue Taxes? No one ever said being a grownup was easy. Sure, there are some perks. But above all else, adults are expected to be responsible. They have to go to work, raise their kids, and pay their taxes. That's how the whole human comedy keeps perpetuating itself. Of course, every now and then it hits a...more
Jerseys for a Good Cause: Pink NFL Jerseys If you have also wondered that why NFL jerseys are pink in color during the month of October, here is the answer. Pink is feminine color and nowhere the popularity of women football comes near the men league whereas most of football players during the games wore pink because of the breast...more
Paperless Income Tax Filing Just Got Even Easier It's that time of the year - the time when people with salaried incomes breathe a sigh of relief that their companies handle tax payments, and when floating income earners begin a frenzy of calculations to figure out their dues. For salaried people in certain states of the US, filing the dreaded tax return has been getting easier by the year. Tax returns can now be filed on the Internet, and payments can also be made via electronic fund transfers, so that repeated trips to the income tax office or even the local post office are unnecessary. Of course, we are never satisfied with what we have. The hardest part of tax returns is not the transportation, but the calculation. To make this easier, we now have several software tax return management tools. These tools can be used by anyone who is qualified to submit a federal tax return. These tools allow you to file your taxes online with the IRS, and get your refunds via Direct Deposit into your bank account. The direct deposit arrives within 10 days, which is a much faster process than the 6-8 week wait required for check refunds. The IRS itself encourages people to...more
Understanding IRS and IRS Tax Attorneys Has this happened with you more than once? You are working hard, everyday thinking about the pay check at the end of the month but when you are holding it in your hand you feel robbed. You cannot...more
Back Tax IRS Help: The Essential Component Of Your Finances The anxiety and panic of that comes from dealing with the Internal Revenue Service is at the top of the list of life's most stressful experiences. Here's some...more
When You are use a Tax Advisor When to use a Tax AdvisorIf you're scared, short of time or don't feel confident doing the research when looking for complex financial products, you'll find financial advice worthwhile.Yet...more
When The Tax Return is Wrong When The Tax Return is WrongDo you have a tax accountant who guarantees their work...in writing? Sure, some guys might say: "We'll make it right if we screw up", but then the stuff hits the fan and...more
Choose your Illinois tax accountant very carefully Filing tax returns is very important for every individual, to make correct filing you need a professional who can help you in determining the kind of tax you are out to pay and that is...more
Seeking Out Tax Increment Financing Continues To Be A Feasible Pursuit In the current environment of tight capital markets and difficult economic conditions, financing development projects through public – private partnerships is...more