The IRS requires you to report all your income to them. But, they don’t take your word for it. This is especially true of large business cash transactions. Why? Because they are looking for criminal money laundering. Large cash transactions are one of the signs of money laundering. Penalties for Failure to File IRS Form […]
Whether you gamble all the time or only once in a blue moon, you are filled with hope and excitement every time you walk through those casino doors. If you have been gambling for even a little while, you already know that Lady Luck can be a fickle partner. Sometimes the gods of the casino […]
You may have heard on the radio, TV, and online that you can settle your tax bill for less than what you owe. But are these claims true? And, can you really settle your tax debt without hurting yourself in the long run? Some of these national tax resolution firms you hear advertising offer very […]
Being an adult has its perks, from being able to rent a car and book a hotel room to the chance to earn a living and rent an apartment. But life as an adult also comes with some challenges, including the burden of filing and paying taxes. If this year is the first time you […]
Tax returns can be complicated and tricky to understand. Even for a professional, it can be surprisingly challenging to get every number and detail right. Often, you only notice the mistakes when you take a casual look at your return days after you submit it online or drop it in the mailbox. Or worse, the […]
Taxes are one of those topics people hate to talk about or even think about, especially if they end up owing money in back taxes every year. That’s why many taxpayers wait until the very last moment to prepare for tax season. It’s also why nearly 14 million Americans find themselves receiving threatening letters from […]
Whether you file the simple 1040EZ or a complicated 1040 and a raft of schedules, making a mistake on your tax form could lead to significant tax trouble. Something as simple as a math error or unsigned form could invite extra attention from the IRS. The tax agency sees those mistakes every year, and IRS […]