If there is one thing that you always need to remember, it’s that the Internal Revenue Service will try to get every penny that it is due. While there are times when it will give people payment plans or help with installments, the reality is that failing to pay taxes...
Working The Puzzle From All The Angles
Month: June 2022
Can your family benefit from a generation-skipping trust?
On Behalf of Demetrius J. Karos, Ltd. | Jun 19, 2022 | Estate Planning
An important goal for many Illinoisans as they develop their estate plan is preserving as much of their wealth as possible for future generations. That means minimizing or eliminating estate taxes. Federal estate taxes are levied on the amount of an estate that...
Do you have to pay the full amount of taxes that you owe?
On Behalf of Demetrius J. Karos, Ltd. | Jun 3, 2022 | Tax Law
If you find out that you're behind on taxes, you may be unable to come up with a way to pay. You're not doing this maliciously. There was no intent to commit fraud or to get out of paying your taxes. You just honestly cannot pay the back taxes that are due. Is it...