Trusts are popular among residents of Frankfort and other parts of the greater Chicago area primarily because they can keep a person's estate out of probate and greatly simplify the process of passing along property to loved ones after the person dies.
Why would I want to create an irrevocable trust?
How can I be penalized following an IRS audit?
With April 15 coming up quickly, most residents of Frankfort and the other Chicago suburbs are looking forward to filing their taxes, paying what they owe or collecting their refund and being done with income taxes for the year.
Ignoring tax debt could have dire financial consequences
The last thing anyone wants to see when doing their income taxes is that they owe money to the IRS. It can be tempting to just ignore the situation. After all, there is no debtor's prison in the United States.
