When a loved one passes away, taxes are one of the last thing his or her family likely wants to think about. However, death is often linked to taxes in significant ways. The estate of a deceased family member or awards from wrongful death cases are typically taxed, but taxes can affect a deceased … [Read more...] about How death can result in more taxes
Federal employees must pay taxes or get fired, according to new bill
As the saying goes, nothing is certain but death and taxes. The IRS, like the grim reaper, will always find you -- unless you are a federal employee. But a Republican congressman from Utah is hoping to change that. He is sponsoring a bill to terminate federal workers who avoid their taxes. The … [Read more...] about Federal employees must pay taxes or get fired, according to new bill
Taxpayers rushing to meet OVDI deadline
Making sure American-held accounts in foreign lands are taxed properly by the IRS is the focus of the 2011 Offshore Voluntary Disclosure Initiative. The deadline for American taxpayers to own up to accounts outside U.S. boundaries is Aug. 31. Until the end of the month, the Internal Revenue … [Read more...] about Taxpayers rushing to meet OVDI deadline
Texas properties charged for unbilled back taxes
From 2005 to 2007, multiple properties in Parker County, Texas, were somehow left off appraisal lists for Willow Park and Aledo. After the county's appraisal district noticed its mistake, it billed the property owners for the taxes owed during those years. Now, however, the property owners are … [Read more...] about Texas properties charged for unbilled back taxes
Who audits the IRS?
The IRS is the last place someone might think to find a person who would break a tax law, even accidentally, but employees for America's biggest tax agency are not immune to mistakes, as a recent report shows. The government conducts tax audits of the people who do tax audits. A … [Read more...] about Who audits the IRS?