Frankfort Legal Issues Blog
Can an offer in compromise help your tax situation?
A person who owes considerable money to the Internal Revenue Service knows how stressful the situation can be, especially if you don’t have the means to pay what the agency says you owe. For some people, being able to enter into an offer in compromise can help to take...
Could Innocent Spouse Relief protect you from the IRS?
After your wedding, you and your spouse integrate your lives. Your house, your finances and most other aspects of your life will wind up intermingled and shared. Most of the time, this situation benefits both parties. You can rely on your spouse to provide income if...
If you’re accused of tax evasion, you need a strong defense
In Illinois, intending to evade taxes is a Class 3 felony if you owe $300 or more. That’s important to know because the last thing you want to face is a felony charge for your taxes. Tax fraud and tax evasion are serious crimes to be accused of. The Internal Revenue...
An important task of parenthood: Choosing a guardian
If you’re a parent of minor children, you shouldn’t delay in naming a guardian for your youngsters. Knowing that they will be well cared for in the event of your death would be a great comfort to you. But maybe you’ve hesitated to create your will and execute the...
Economic Impact Payments
The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and...
Don’t wait to defend yourself if you’re accused of tax evasion
You do your best on your taxes, but they are complex. You have multiple jobs, some write-offs and file with your spouse. You don’t usually have to pay, but when you do, you pay whatever you’re told you owe. That’s why you were shocked when you were informed that you...
What makes your tax return more complex?
For some, taxes are fairly straightforward. They have been working for a company, getting an hourly wage. They have just one source of income. They’re young and single, and their taxes get taken out of each paycheck before they get it. All they have to do is report...
Planning for unexpected health issues
Unexpected health issues may become more common as you grow older. You can’t predict when these issues may strike or exactly what challenges you will face, but we do know that aging takes a toll and that some issues -- cancer, strokes, etc -- are more common in the...
Tax fraud requires intent
Feeling nervous about filing your taxes? Feeling stressed as you fill out the paperwork? Maybe you think that you have done it all correctly, but you’re just worried. It’s the same fear you feel when you pass a police car on the road. You know that the tax authorities...
The IRS has extended the 2020 tax filing deadline to July 15
Traditionally, April 15 is tax day. Prior to the rise of digital filings, the post office would often have long lines on the 15th or the next business day if the 15th fell on a weekend. The Internal Revenue Service (IRS) expects that all Americans file an annual...
