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What to Do If You Missed Your Tax Filing Deadline/Extension

Taxes are an inevitable part of adult life. Missing the deadlines or extensions for filing your taxes can cost you a significant amount of money in penalties.

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Red Flags That Could Lead to a Tax Audit

According to statistics from the Internal Revenue Service Compliance Activities report, the IRS closed about 738,959 tax returns examinations in the Fiscal Year 2021.

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Common Misconceptions about Filing Taxes

According to the Internal Revenue Service (IRS), about 148.3 million taxpayers paid over $1.6 trillion in individual income taxes in 2019. Individuals living and working in the United States have an obligation to file their income tax returns with the IRS upon making a certain amount.

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Understanding a Bank Account Levy

If you owe a debt to someone and can’t pay them back, you know how stressful this can be. Being hounded by creditors and debt collectors puts you in a difficult position and you may be wondering about your options. You may consider starting a payment plan, attending debt counseling, or in some cases, filing for bankruptcy.

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Tax Perjury & Its Consequences

For as long as people have been obliged to pay taxes, there have been dozens of ways to avoid paying them. Many of those techniques are illegal and harshly punished by authorities at the federal and state levels.

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What You Need to Know About Tax Evasion

According to the Internal Revenue Service (IRS), since 2001, the average voluntary tax payment rate has been 83.6 percent. With collection efforts, tax collection of all dollars owed rises to 85.8 percent, leaving an annual gap of $381 billion uncollected. In other words, about one in every six dollars owed in federal taxes goes unpaid annually.

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Employer Payroll Tax Responsibilities

According to the most recent statistics from the Internal Revenue Service (IRS), taxpayers filed about 148.3 million tax returns in 2019, including payroll taxes. Payroll tax is a percentage withheld from an employee's income by an employer and paid to the government on behalf of the employee.

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When Should You Hire a Tax Attorney?

Many people falsely believe they only need a tax attorney if they get audited, but there are a host of other reasons why you may consider hiring one. In fact, for most people, the fear of an audit from the IRS never comes to pass.

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What is The IRS Voluntary Disclosure Practice?

When taxpayers do not file tax returns or willfully file tax returns while providing false information, they may face penalties from the Internal Revenue Service (IRS) and interest from the date their taxes were due. However, taxpayers may be eligible to use the IRS Voluntary Disclosure Program to avoid criminal prosecution.

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Your Options & Requirements for Reporting Capital Gains

It is crucial to understand your options and requirements for reporting capital gains to ensure that you report the information to the Internal Revenue Service accurately and comply with all applicable tax reporting rules.

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