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…

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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…

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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…

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Are you responsible if your spouse cheated on taxes?

You have probably heard the warning many times in your adult life not to sign something you have not read. Nevertheless, most people will admit that they do so frequently. Someone pushes a paper across the desk or counter, gives a synopsis of the contents and points to the line where you should sign. If you do this so easily…

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Can you lessen the likelihood of facing a tax audit?

Book about tax audit and calculator on a desk.

With tax season rapidly coming to a close, you may still have many worries regarding your personal taxes. Any time you have to deal with the Internal Revenue Service, you may feel a twinge of anxiety, even if you feel that you have done nothing wrong. In fact, many people commonly fear that they will face a tax audit. If…

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Failure to pay employee payroll taxes

handcuffed man holding cash

As the owner of a Missouri business, one of the most burdensome tasks you must oversee is the paying of taxes to the federal government. You may deal with sales tax, property tax and income tax, as well as taxes that are specific to your product or service. However, the IRS may be most concerned about receiving your share of payroll tax.…

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It may not feel like it, but taxpayers do have rights

Tax law and accounting report on a table.

Are you among the many Missouri residents who feel as though the IRS holds all the cards? No one likes paying taxes, but most everyone (perhaps resentfully) understands that it’s a necessary evil. The problem is that it feels as though the IRS has unlimited power to wreak havoc on your life if you can’t pay your tax bill. The…

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Haven’t paid taxes in years? Take action now

Man holding sign that says "tax help"

Before he became a near household name, Anthony Bourdain had tax problems. For more than 10 years, the well-known chef, author and television host failed to pay his taxes in a timely manner. Like most people in that position, he was concerned. But, then a career shift he took also woke him up about finances. The punk rock chef and…

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