Tax Law

If you’re feeling anxious about your unpaid taxes piling up, then take a deep breath. Many Naperville residents, especially contractors, small business owners and self-employed professionals, also find themselves behind on taxes at some point.  Life happens. But...

When you’re overwhelmed by tax debt, relief companies can sound like a rescue, but many exploit fear and urgency to profit from it. This post identifies the biggest red flags in the tax relief industry so you can tell the difference between a legitimate professional...

People typically have to pay their income taxes in full annually. The Internal Revenue Service (IRS) reviews income tax returns to compare estimated tax payments with the final income tax obligations due at the end of the year. People who have a balance due generally...

The Internal Revenue Service (IRS) tracks tax obligations and enforces federal tax code. Taxpayers file tax returns to reconcile estimated payments throughout the year with the actual income tax due. If they haven’t paid what they owe in full, then interest and...

Few things in life are as complex as the United States Tax Code. This is especially true for those who have foreign assets or business interests. The laws are complex and evolving, making compliance a nightmare. There are many legal strategies that can help taxpayers...

Research and development (R&D) plays an important role in driving economic growth and innovation within a state. By investing in R&D, states can foster technological advancements, improve productivity, and create high-quality jobs, which collectively enhance...

Owning and running a small business can sometimes be financially complex. But following tax laws can help you avoid costly penalties. And while the idea of an audit can be daunting, knowing what to expect and how to prepare can make all the difference. What causes a...

Tax debts are notorious for inspiring financial hardship. The Internal Revenue Service (IRS) can be a very aggressive collection agency. People who underpay their federal income taxes or fail to file tax returns may end up owing substantial debts that amount to more...