Tax Law

Owing taxes to the IRS can feel overwhelming. It can trigger stress and uncertainty, especially if the amount seems unmanageable within your current financial situation. However, the IRS offers several repayment plans designed to help taxpayers manage their tax debt...

Most people are direct-hire employees and have been classified as such ever since their first teenage jobs. They fill out a W-2 with their employer, receive their paycheck and then file a tax return each year in April to get a refund. The system works well for the...

When someone owes taxes to the federal government, they are at elevated risk of prosecution and incurring financial penalties. Falling behind on taxes can happen for many different reasons, including a sudden loss of income as a self-employed individual or repeated...

The shift to remote work has changed life dramatically for a lot of people. While there are still plenty of jobs that have to be done in person, many jobs that are done on computers can be handled anywhere. A company could be based in Illinois and hire workers from...

No one wants to receive a letter from the IRS, but unfortunately, it happens to many people yearly. If you're one of the unlucky few who gets that letter, the prospect of an IRS audit is not pleasant.  However, if you know what to expect during an audit, you can make...

Most married couples file joint income tax returns. There are often significant financial advantages to doing so. Moreover, it usually just makes sense and saves time. However, sometimes one person’s individual issues can negatively affect their spouse. When that...

As a business owner, you have probably heard of the term "estimated quarterly tax payments." Depending on the type of business you own and how much money you make, you may be required to do this.  Not only is this the law, but it's also to your benefit. Here's what...

The lottery recently crossed $1 billion, so many people are buying tickets who wouldn’t have otherwise. It’s going to be one of the biggest drawings of all time. That said, most people choose to get the cash option rather than taking payments if they win the lottery....

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...

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...