Tax Topics

The last thing anyone needs after a divorce is trouble with the Internal Revenue Service. However, there are several tax considerations that an individual should heed in order to avoid a post-divorce tax controversy. In particular, an individual should understand how the IRS regards his or her property ownership and liabilities after a divorce. In […]

The Internal Revenue Service recently issued a warning against tax scams. The problem is more widespread than readers may realize: almost 4,000 Americans may already have lost over $20 million due to such deceitful tactics. How could such fraud happen? One method of contact may be via written correspondence on authentic looking letterhead. Notably, those […]

Cyber-thieves based in Russia and other countries recently hacked into an IRS website, stealing U.S. taxpayer information and using that information to file more than 10,000 false tax returns. In return, the hackers walked away with tens of millions of dollars in tax refunds. Since then, the IRS has been working with federal agencies, state […]

Today was the extended filing deadline for U.S. citizens who lived abroad on the regular tax due date for 2014 returns. You still have until the end of June to file your FBARs, FATCA reports and Statements of Special Foreign Financial Assets, as appropriate, however, which brings us back to those controversial foreign income reports. […]

No matter your attitude toward paying taxes to fund government programs, few people want to pay more in income taxes than they have to. With the proper advice and attention to the law, the average taxpayer should be able to find deductions to which they are entitled, and avoid an IRS audit. As ABC News […]

A claim by the IRS that you owe it back taxes puts more than your bank account at risk. The agency may also take your home or other property through what is known as a “tax lien.” As readers may know, a lien is a legal claim against another party’s property. A federal tax lien […]

A business owner must make decisions that improve the bottom line as much as possible. One of these decisions is in the way he or she hires people. Whether a worker is an employee or an independent contractor has many legal implications, not the least of which is what taxes you must pay on their […]

In our last blog post, we provided our readers with some advice for reducing their federal income tax bills before the end of the year. We have some more tips for you today. Today’s tips, provided by the IRS, may apply more to the general public, instead of mostly high-income taxpayers. First, now is the […]

As we approach the end of 2014, it is time to start thinking about federal income taxes. Though it is not necessarily a pleasant thing to consider, there is good news: time remains to take action to reduce your tax bill come 2015. A few things you can do now may result in significant tax […]

For various reasons, many people whom the IRS accuses of owing a hefty income tax bill choose not to contest the claim. Perhaps they do not dispute owing the money, or the size of the debt. Maybe, for personal reasons, it is not worthwhile to go through the time and expense of fighting the IRS. […]