As a small business owner, you probably assum the IRS isn’t concerned with how little or how much you pay in taxes. However, since 2016, the IRS has increasingly targeted startups for tax audits, so it’s important for you to prepare your tax returns correctly, regardless of income.
How To...
Two things are certain in life, death and taxes. But are there groups that don't pay taxes? The government gets money to spend by taxing the people, and there are many types of taxes.
Taxes are important to the economy. Different people pay taxes at different rates. Ideally, high-income earners...
Taxes are deductions that the government makes on earnings for businesses and people. The taxes are vital to the economy and enable governments to function.
Businesses need to pay for certain services to run smoothly. These are known as business expenses. All businesses have expenses that appear in their income...
It is every taxpayer's responsibility to file their taxes annually. These are important documents that the IRS uses to gauge your income level.
Failing to file proper returns is tax fraud under the law. It is a criminal offense that has consequences.
When filing returns, you might need to attach supporting...
Paying your taxes can be such a hustle. You have to get it right or risk being liable for tax fraud. Before the internet was mainstream, there were many complex payment methods. They include money orders, Same-day Wire, and cash.
The internet has made payments easier, more convenient, and more...
As an internal body, IRS always makes decisions, either positive or negative. IRS depends on every piece of information to offer in compromise.
Suppose you have an offer in compromise that doesn't belong to you. The IRS will automatically deny you an offer in compromise, but there are several other...
Property ownership is complicated in many countries. Most folks can’t afford to purchase property outrightly, but it is easier to make periodic payments.
Countries with developed financial structures and secure financial institutions facilitate purchasing property. Most people acquire real estate through mortgage financing.
In making payments on your property, you might...
Tax relief is a policy or a program put in place to reduce the tax paid by businesses and individuals.
These programs are available to both individuals and businesses; however, the program one qualifies for depends on various factors, including their status with the IRS.
Do you have back taxes? Don't...
