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
Responding to an IRS summons
Receiving mail from the Internal Revenue Service can be distressing for many taxpayers, especially when it asks them to send back bank records and other financial information. The IRS often sends summonses in audit fraud cases, which can be particularly concerning due to the potentially severe … [Read more...] about Responding to an IRS summons
Foundations make taxes easy for Latinos
Even though tax season is still far away, a Hispanic advocacy group is encouraging filers to start thinking about their tax returns now, instead of waiting until April. Statistical information shows that Hispanic Americans, particularly those who have been in the country for less time, are generally … [Read more...] about Foundations make taxes easy for Latinos
Some tips to stay out of tax trouble
No one likes paying taxes. However, most people are able to tolerate the idea of taxes so long as the organization responsible remains remote and faceless. But when the Internal Revenue Service starts calling you at home, things can become stressful. Indeed, the power of the IRS is formidable, … [Read more...] about Some tips to stay out of tax trouble
Super-sized celebrity tax liens
As the expression goes, nothing is certain but death and taxes. And though some entertainment celebrities may be able to achieve immortality through their work, not even star power can stand up to the power of the IRS. Take for example, rapper and television personality, Flavor Flav. The IRS has … [Read more...] about Super-sized celebrity tax liens
A little planning can help avoid huge losses in estate taxes
As Americans, we pay taxes on almost everything. The cost of a sandwich at the deli may be listed as $7.95, but it actually costs a little more than that. Your employment contract may list your annual salary as $60,000, but after the appropriate deductions are made, a smaller portion of this figure … [Read more...] about A little planning can help avoid huge losses in estate taxes