The deadline has already passed to file 2020 income tax returns. Federal law states who is required to pay income tax. A person can end up landing in prison for tax avoidance or tax fraud on federal charges if they fail to report their income and pay the taxes they owe. Details provided by theRead More
Category Archives: Tax law
I Can’t Pay My Taxes Should I File A Tax Return
I Can’t Pay My Taxes Should I File A Tax Return? Don’t panic. If you cannot pay the full amount of taxes you owe, you should still file your return by the deadline and pay as much as you can to avoid penalties and interest. You should contact the IRS to discuss your payment options.Read More
When it Comes to Representing Me, What’s the Difference Between a Tax Attorney and an Accountant?
An accountant and a tax attorney can both help you when it comes to your financial standings; that being said, it is necessary to know the difference between the two. With Tax Day in April, it is important to keep a mindful eye of some key details when dealing with those who would help youRead More
If I Can’t Pay My Taxes Should I Still File My Tax Return?
The short answer is YES – you should still file your return. If you cannot pay the full amount of the taxes you owe, you should still file your return by the deadline and pay as much as possible to avoid penalties and interest. You can learn more HERE. The penalty for NOT FILING your taxes can be much greater than for notRead More
Can The IRS Take Your Home or Business If I Didn’t Pay My Taxes?
Can The IRS Take Your Home or Business? The short answer is yes. The IRS is empowered to take a taxpayer’s home or business. The Internal Revenue Service Restructuring and Reform Act of 1998 extended the privilege to seize homes and businesses. However, the Act does provide a safety net for taxpayer’s owing $5,000 or less. If youRead More
Will I go to jail for not paying my taxes?
Tax season is almost no one’s idea of a good time. This particular time of the year has the relatively unique quality of imparting extreme frustration and stress over the relatively innocuous task of filing some paperwork. Even more than that, however, is the fear that if mistakes are made, the consequences could be disastrous.Read More
Helping one through both civil and criminal tax penalties
Another tax deadline recently passed in Tennessee. Many people may enjoy this time of year as they receive tax refunds, but not everyone falls into this category. There are many other individuals who owe taxes or have not filed a tax return yet for 2017. This can be a very uneasy time for people inRead More
There are options for people who owe taxes
The deadline is fast approaching for people in Tennessee to file their taxes. Some people may look forward to this time of year if they receive refunds from the IRS, but this is not true for many others. Many individuals will owe taxes when they file their tax returns or may owe taxes for pastRead More
The penalties for tax fraud
While it is not usually something people in Tennessee like doing, every year people must file their taxes and give what they owe to the IRS. As many people are aware, there were some major changes made to the tax code recently, which will change how many people approach their taxes. However, one thing remainedRead More
The new tax bill makes some big changes to what people will owe
As people in Tennessee are probably aware, over the last few months both the House of Representatives and the Senate have been working on a new tax bill to overhaul the current tax system. After meeting together, the House and Senate both settled on a joint bill which was passed by both the House andRead More