Previous posts on this blog have talked about how people accused of tax evasion and other serious malfeasance with respect to their tax obligations may face severe penalties, including the possibility of criminal charges being filed against them.However, Naperville,...

Working The Puzzle From All The Angles
- Home
- •
- 2018
Year: 2018
Your will should change as your life does
On Behalf of Demetrius J. Karos, Ltd. | Dec 4, 2018 | Estate Planning
Writing your will probably gave you a certain piece of mind. After all, you may have been hearing from different sources that having a will is essential for protecting your family and ensuring your estate gets to the right hands. Without a will, your loved ones may...
Businessman admits to tax evasion in federal court
On Behalf of Demetrius J. Karos, Ltd. | Nov 22, 2018 | Tax Evasion
A businessman from a state on the other side of Lake Michigan from Chicago entered a plea of guilty to tax evasion in federal court. According to reports, the man faces up to 5 years in federal prison as well as a hefty fine, but it is not clear what, if any, deals he...
Can I go to jail if I cannot afford my taxes?
On Behalf of Demetrius J. Karos, Ltd. | Nov 9, 2018 | Tax Evasion
Most residents of the greater Chicago area probably recognize that owing back taxes to the Internal Revenue Service, or IRS, is a serious legal problem. The IRS has a number of powerful legal tools that it can use to collect tax revenues that are simply not available...
What is the difference between a living will and a health proxy?
On Behalf of Demetrius J. Karos, Ltd. | Oct 26, 2018 | Estate Planning
As part of almost any estate plan, a resident of the greater Chicago area is going to want to give some guidance on how she want her health care to go. This is particularly important as the chances of a serious illness increase because the person may not be able to...
What can I do if I do not agree with my IRS audit?
On Behalf of Demetrius J. Karos, Ltd. | Oct 12, 2018 | IRS
There are probably very few people in the greater Chicago area who really want to go through an IRS audit of their federal tax returns, even if it is simply a desk audit involving an exchange of correspondence.The process will involve time and resources, and it may...
As the year comes to an end, you may be looking to save on taxes
On Behalf of Demetrius J. Karos, Ltd. | Oct 11, 2018 | IRS, Tax Law
It seems as though the months tend to go by faster each year. Before you know it, it's already October, and the holidays are just around the corner. Also just around the corner is the end of the year, which means that you may be running out of time to reduce your...
What is so bad about offshore bank accounts?
On Behalf of Demetrius J. Karos, Ltd. | Sep 28, 2018 | Tax Evasion
There is something very alluring about offshore banking that makes it a common theme in movies and novels. Usually, the person engaging in the behavior is, at least implicitly, doing something illegal by using the offshore account or, at best, is trying to cover his...
When am I obligated to file a 1099 for payments I make?
On Behalf of Demetrius J. Karos, Ltd. | Sep 14, 2018 | Tax Controversy
Previous posts on this blog have talked about how businesses of all sizes in Illinois have an obligation to withhold federal and state payroll taxes from employees. They do not have to do so with respect to independent contractors who work for their business on...
Some statistics on federal income tax audits
On Behalf of Demetrius J. Karos, Ltd. | Aug 30, 2018 | IRS
A previous post on this blog talked about how likely it is for a resident of the greater Chicago area to face an IRS tax audit. The likelihood of an IRS audit depends heavily on how much money a person makes, and it can also depend on a number of other factors that...
Recent Posts
- What happens when a taxpayer doesn’t file an income tax return?
- When self-employed workers fail to make estimated payments
- Can people ever settle their tax debts for less than the full amount?
- What is a Master of Science in Taxation (M.S.T) is and how can my attorney having one help me?
- Can bankruptcy clear tax debts if people don’t file returns?
Categories
- Estate Planning (53)
- IRS (41)
- Real Estate (8)
- Tax Controversy (22)
- Tax Evasion (28)
- Tax Law (138)