Author name: The Law Firm of Lance R. Drury, P.C.

You were so cautious about paying your taxes on time that you made an error on the return. That simple error meant that you overpaid by a few hundred dollars, which you’d like to get back from the Internal Revenue Service. Requesting a Refund Did you know that you are able to request a refund […]

Do you feel nervous when you do your taxes? Maybe you don’t want to pay someone to do it for you — or you can’t afford it — and yet you are well aware that no one ever taught you how to do your taxes. You just try to fill out the forms as well

If you are like most Americans, you may get a little creative in your efforts to reduce your tax obligations and maximize the percentage of your annual income that stays in your accounts. Unfortunately, if you underpay your taxes because you get a little too aggressive with your attempt to avoid taxes, you may receive

File Form 8275 Some people wonder if they submit the IRS form 8275 with their tax return that they will be subjected to an increased risk of audit, but this isn’t necessarily the case. There isn’t anything in the tax code that requires the IRS to audit returns based on the inclusion of this form.

In the United States, rather than having trained professionals do the taxes, the government just asks citizens to do it on their own — regardless of their level of education or understanding of tax laws. Everyone has to file by a certain date with their own paperwork. That goes for everyone from the finance professor

When you owe money to the Internal Revenue Service, the worst thing you could do is ignore the bill. When you don’t make the necessary arrangements to settle your debt, the IRS may sell or seize your property. The IRS could take anything from you, like your: Home Wages Retirement accounts Boats Bank accounts Usually, people

Your work was going very well in the first part of the year, so you planned to take your profits and build up. Suddenly, your sales dropped off, and you were left barely scraping by. As tax time came around, you realized that you were self-employed and would need to come up with several more

If you are like most Americans, you want to minimize the amount of taxes you pay and maximize your post-tax income. Knowing the fine line between tax evasion and tax avoidance can help you prevent mistakes that could have financial or criminal consequences. When it comes to the payment of income taxes, the Internal Revenue

Have you been behind on filing taxes with the Internal Revenue Service? If you have been, something you’ll want to do is to file your delinquent tax return. If you don’t file your tax return on time, it is true that the IRS could charge you a fee, which is something you may want to