Perhaps one of the most frightening entities to owe money to is the Internal Revenue Service. Doubtless, many Texas residents have heard or shared horror stories about tax audits or IRS debt collection procedures. While owing past due taxes is serious, it doesn't have to ruin your entire life. With … [Read more...] about Texas tax payers should understand the offer in compromise
What are the types of tax audits from the IRS?
It's likely every individual or business in Texas knows that Internal Revenue Service tax audits exist, but they might not realize that there are different types of audits. Audits occur when the IRS decides to more closely examine your tax return. Sometimes this occurs because there is a red flag or … [Read more...] about What are the types of tax audits from the IRS?
Don’t leave your assets unprotected
Most individuals in Texas wouldn't drive around without car insurance, and whenever possible, most people seek health insurance coverage. Protecting property, such as cars and homes, is important to us. Protecting our health and bodies is also important. Surprisingly, many people fail to take the … [Read more...] about Don’t leave your assets unprotected
Texas tax law loophole beneficial for farmers
Understanding the intricacies of federal and state tax law often comes with a chance to reduce tax burdens, sometimes by a substantial amount. While individuals and even businesses can't be expected to keep up with ever-changing laws, it is important to understand some of the more important issues … [Read more...] about Texas tax law loophole beneficial for farmers
Texas companies should keep certain records in case of tax audit
Though the overall likelihood of an IRS audit remains small, businesses do have a higher risk of raising IRS flags than most individuals. A simple mistake or a sudden change in IRS tax forms might be enough to earn the eye of a tax auditor, and when an audit does strike, businesses have to be … [Read more...] about Texas companies should keep certain records in case of tax audit
Should Texas residents worry about the IRS and vital currency?
Texas residents are very much aware of the power of the Internal Revenue Service. As we approach the end of the year, many individuals and business owners will likely begin to think about how taxation will need to be addressed, and the most financially expedient way to do it with experienced support … [Read more...] about Should Texas residents worry about the IRS and vital currency?