If you have struggled to keep on top of your finances this year, you might feel like ignoring tax demands from the Internal Revenue Service (IRS). However, hiding your head in the sand will only make your problems worse. Failing to respond to the IRS's demands could...
Working The Puzzle From All The Angles
- Home
- •
- 2020
Year: 2020
International accounts don’t protect you from taxes
On Behalf of Demetrius J. Karos, Ltd. | Dec 24, 2020 | IRS
For decades, offshore banking has been synonymous with tax avoidance, if not outright tax evasion, by wealthy people and corporations. People with significant resources may have funneled them into accounts held in countries that did not report those accounts to the...
Tax fraud leads to prison for 2 former attorneys
On Behalf of Demetrius J. Karos, Ltd. | Dec 23, 2020 | Tax Evasion
Any time there is an allegation of tax fraud, you need to take it seriously. If you’re accused of attempting to evade taxation or manipulating your accounts to pay less than you owe, then you need to make sure you’re protecting your rights and yourself against the...
What is a fiduciary income tax return?
On Behalf of Demetrius J. Karos, Ltd. | Dec 9, 2020 | Tax Law
Many different types of taxes exist, including estate, sales, property and income taxes, to mention a few of them. The person appointed to the role of executor of someone's estate has many responsibilities. One of those is to file a fiduciary income tax return. What...
Do most people have an estate plan?
On Behalf of Demetrius J. Karos, Ltd. | Nov 23, 2020 | Estate Planning
If you’re thinking about estate planning, you understand how important it is and how it’s inevitable that, eventually, everyone is going to need a plan. These plans may be very complex for those with multi-million dollar estates and multiple homes, and they may be...
Dealing with an audit: 3 tips to get through it
On Behalf of Demetrius J. Karos, Ltd. | Nov 10, 2020 | Tax Law
An audit is something most people want to avoid in any way they can. An audit can be stressful, especially if you don’t work with professional tax attorneys or accountants each year when you file. The good news is that there are steps that you can take as you work...
Who inherits your estate if you die without a will?
On Behalf of Demetrius J. Karos, Ltd. | Nov 9, 2020 | Estate Planning
Each state in the country sets its own intestate succession laws. These laws determine who is going to get the estate of a person if that person passes away without a will in place. They are very strict and can’t be bypassed unless you have your estate plan set up...
Making an offer in compromise may help relieve you of tax debts
On Behalf of Demetrius J. Karos, Ltd. | Oct 28, 2020 | Tax Law
If you’re behind on your taxes or simply cannot pay what you owe, one thing you may want to look into is making an "offer in compromise" to the IRS. Using the Internal Revenue Service’s Offer in Compromise tool, you can see if you qualify to pay less than you owe on...
Do you know the difference between tax avoidance and evasion?
On Behalf of Demetrius J. Karos, Ltd. | Oct 14, 2020 | Tax Law
The difference between the wage your employer pays you and your actual take-home income can be frustrating. Many people pay 20% or more of their average weekly income in various taxes. When it is time to file your tax return, it is normal and even reasonable to want...
When is it a good time to work with a tax attorney?
| Oct 1, 2020 | Tax Law
You want to stay on top of your federal income taxes to avoid the possibility of triggering an audit. Some indications that you may want to get in touch with your tax attorney include if: Your business is growing, so your tax returns are becoming more complex Your...
Recent Posts
Categories
- Estate Planning (53)
- IRS (40)
- Real Estate (8)
- Tax Controversy (21)
- Tax Evasion (28)
- Tax Law (135)