St. Louis Tax Law Blog

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How Should You Handle Back Taxes?

What you will learn: If you owe the IRS back taxes, address the problem quickly, including submitting tax returns on time.There are many options you can use to get your taxes back in order.When necessary, a tax attorney such as The Law Office of Lance R. Drury can assist you in navigating the tax laws…

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Tax Credits Implemented to Help Reduce Carbon Footprint

The carbon oxide sequestration tax credit was created to incentivize business owners to reduce their carbon footprint, and learning about the credit will help you understand: The person who owns the carbon oxide capture equipment has the first right to the tax credit. If the owner of the carbon oxide capture equipment chooses, he or…

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Tax Season 2021, What You Should Consider

As you read about the changes that are happening this tax season, you’ll learn: You have extra time to get your taxes filed, and the standard deduction has been increased. Many of the deductions and credits you were previously familiar with have been tweaked in some way and often to your benefit. Issues such as…

IRS Blog

What is an IRS Revenue Officer?

 You were surprised to get a letter from the Internal Revenue Service. Even more surprising was that the IRS wanted to send out a revenue officer to talk to you.  It’s not common for people to deal with these officers directly, but they could if the IRS finds that they cannot collect debts from…

Tax Preparer

When is your tax preparer responsible for problems with your tax return?

Even people who don’t have particularly complicated tax returns often rely on professional tax preparers for all sorts of reasons. They want to ensure that they take advantage of all possible deductibles and credits, they can’t keep up with all of the changes to the tax laws, and/or they simply don’t have the time or…

Tax Deductions

Padding your deductions could lead to an audit or fraud charges

Deductions are a critical part of the United States tax code because they allow people to reduce the amount of tax they have to pay because of other payments they have already made or donations to charitable causes.  People can write off business-related expenses both incurred as part of a job for an employer and…