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Tax season can have its challenges for any type of taxpayer. However, when a taxpayer owns a small business, there is a whole set of added potential headaches they can be facing. Business tax issues have many complex aspects. Given this complexity and other factors, many special challenges can come up for business owners when […]

When a person has a large federal tax debt, they may feel like their situation is hopeless. However, there are avenues and options out there for addressing such debts. Offers in compromise and installment agreements are a couple examples of options a person with a tax debt may be able to pursue. Skilled tax lawyers

The Internal Revenue Service only audits approximately 1 percent of all individual tax returns the agency receives each year, but there are certain red flags that could make yours more likely to be chosen. Below are 10 indicators that could potentially make you a target of an IRS audit. 1. Leaving out information. If you forget

Those who like to try their luck at slot machines, as well as the gaming industry as a whole, received something of an early gift during the holiday season courtesy of the Internal Revenue Service. That’s because the newly published regulations governing the gaming industry ended up omitting incredibly unpopular proposals relating to both slot

An entertainer in Branson, Missouri, has been sentenced to five years’ probation on charges of tax evasion. In addition, the star of “Six” has been ordered to pay over $200,000. In federal court in April 2016, the man pleaded guilty to charges of willful failure to file a return or supply information and attempting to

Filing taxes can be a time-consuming process and can have the potential to be a source of a fair amount of stress. So, the upcoming tax season is something that may fill some with a small measure of dread. Now, in this time right before tax season starts in earnest, there are things taxpayers can

Among the deductions individuals can claim on their taxes are deductions for automobile operating costs related to certain activities. Among the car travel a driver might be able to deduct such costs in relation to are: travel related to service to charities, travel for moving purposes, travel for medical purposes and business travel. Now, what

The main way people pay their taxes over the course of the year is through having a portion of their wages withheld. However, this is not the only method for during-the-year tax payments. Another major type are estimated taxes. Estimated taxes are tax payments individuals make to the Internal Revenue Service during the course of

Wages aren’t the only thing a worker can get from their employer. For example, they may also receive certain fringe benefits in connection to their job. How are such benefits treated for tax purposes? Well, fringe benefits generally are taxable income. Thus, they typically are required to be reported as pay by the employer and