Overpaid Taxes – What To Do

Woman going through bills, looking worried

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. Did you know that you are able to request a refund if you overpay on your taxes? You may…

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People Do Make Tax Mistakes

crumpled tax form mistake

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 as you can, constantly worrying…

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Does IRS Disclosure Form Increase Audit Risk? – IRS Form 8275

tax audit stamp on tax return papers

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. The form 8275 is used when there is…

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Is Tax Software Accurate?

woman calculating invoices using tax software

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 at the local college to…

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Delinquent Taxes? Be Prepared to Negotiate with the IRS

delinquent late payment paperwork

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 talk about with your attorney,…

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A public official can become embroiled in a tax controversy

man in business suit under arrest in handcuffs

The IRS does not care what position an individual here in Missouri or anywhere else in the country holds in society. If it suspects the individual of involvement in a tax controversy, the agency will pursue the matter. For instance, public officials are not above the law, and when authorities suspect them of wrongdoing, those officials could end up facing…

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Tax controversy: Man receives almost $1 million tax refund

pile of 100 dollar bills

At this time of year, many people in Missouri and across the United States are likely thinking about filing tax returns and whether they will receive a refund. For many, the process of preparing their taxes is a daunting one, and any mistakes could potentially have serious consequences if law enforcement officials believe they were deliberate. In fact, a man in another…

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Missouri governor to cut taxes by $800 million

A tax cut concept photos

The national tax overhaul of last year implemented significant tax cuts for private citizens and corporate entities alike. Not to be outdone, Missouri governor Eric Greitens has announced a plan to slash tax rates statewide. If the governor’s proposal is successful, Missouri taxes could be reduced by an estimated $800 million. Governor Greitens outlined his new tax proposal in a…

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Several Missouri donut shops lose sales tax license

pile of 100 dollar bills

What are some things that go well with donuts? Coffee, milk, hot tea and… a sales tax dispute? No, taxes are not something that most people associate with donuts. But for one popular chain of donut shops located in Missouri, the two seem to go hand in hand. The popular donut-and-coffee chain Tim Hortons recently opened several locations throughout the…

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Avoiding tax trouble when participating in the sharing economy

tax tips written on blackboard

In today’s world, there are many ways to earn a little extra money. One is through participating in the sharing economy through things like selling goods or services via one’s computer or cellphone. Participating in the sharing economy can provide some interesting income opportunities. However, it is important to remember that engaging in these activities also has responsibilities connected to…

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