Some residents of Dallas and all across the country might not have to pay taxes, interest and penalties if the Internal Revenue Service finds the return to be fraudulent. It's important that people who are conned by others not go through the grueling process of having the IRS audit their … [Read more...] about Spouses not always liable for tax fraud
Release of debt for a disability can lead to taxable income
Texas residents and Americans across the country are always looking for financial breaks. However, what if a financial break meant thousands of dollars in tax liability? This is exactly what happened to one woman who is now struggling to pay off her tax obligations, which resulted from a release of … [Read more...] about Release of debt for a disability can lead to taxable income
Follow expert tips if you fear an audit
When the Internal Revenue Service employees review tax returns from Dallas and around the nation, there are some sure signs they look for that will trigger an audit. To make sure the IRSdoesn't clamp down on your return, experts recommend following these steps to try to audit-proof your … [Read more...] about Follow expert tips if you fear an audit
Audits of millionaires’ tax returns spike
Millionaires in Texas and throughout the United States should be on alert for the IRS to come calling. The federal tax agency is reaching auditing these wealthy individuals more than ever. Data recently released by the IRS showed that millionaires last year were audited almost twice as much as … [Read more...] about Audits of millionaires’ tax returns spike
IRS offers ways to cut down on penalties for unpaid taxes
The Internal Revenue Service is making it easier for some taxpayers who can't pay their taxes in full to do so over time, without the fear of accruing substantial penalties and interest. Additionally, the IRS has announced that it will give taxpayers who were out of work for a long period in 2010 … [Read more...] about IRS offers ways to cut down on penalties for unpaid taxes
Keep good records in case of IRS audit
The Internal Revenue Service is watching tax returns closely, using improved computer systems to detect any potentially inaccurate returns. But for Texas taxpayers who have doubt as to liability, producing good records and calling on professionals if help is needed can produce a good result to any … [Read more...] about Keep good records in case of IRS audit