Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Jun 18, 2020 | Tax Law
When you received a notice that you were going to be audited, you were concerned. While you had filed your taxes in the past several years, you did them yourself. You know that there could be errors to worry about. If an audit has you worried, it may be time to talk...
On Behalf of Demetrius J. Karos, Ltd. | Jun 7, 2020 | Estate Planning
Not exactly. The difference between a beneficiary and an heir is something that confuses a lot of people, so if you don’t know the difference, you’re definitely not alone. Your heirs are anyone who could potentially receive an inheritance from you after your death. If...
On Behalf of Demetrius J. Karos, Ltd. | May 22, 2020 | Tax Law
Finally filing your tax return can take a major weight off your shoulders. It can be very stressful to go over your annual income and try to minimize your tax liability. For most people, once they drop the envelope with their return in the mail or hit the e-file...
On Behalf of Demetrius J. Karos, Ltd. | May 15, 2020 | Tax Controversy
A person who owes considerable money to the Internal Revenue Service knows how stressful the situation can be, especially if you don’t have the means to pay what the agency says you owe. For some people, being able to enter into an offer in compromise can help to take...
On Behalf of Demetrius J. Karos, Ltd. | May 14, 2020 | Tax Law
After your wedding, you and your spouse integrate your lives. Your house, your finances and most other aspects of your life will wind up intermingled and shared. Most of the time, this situation benefits both parties. You can rely on your spouse to provide income if...
On Behalf of Demetrius J. Karos, Ltd. | May 5, 2020 | Tax Law
In Illinois, intending to evade taxes is a Class 3 felony if you owe $300 or more. That’s important to know because the last thing you want to face is a felony charge for your taxes. Tax fraud and tax evasion are serious crimes to be accused of. The Internal Revenue...
On Behalf of Demetrius J. Karos, Ltd. | Apr 28, 2020 | Estate Planning
If you’re a parent of minor children, you shouldn’t delay in naming a guardian for your youngsters. Knowing that they will be well cared for in the event of your death would be a great comfort to you. But maybe you’ve hesitated to create your will and execute the...
On Behalf of Demetrius J. Karos, Ltd. | Apr 17, 2020 | Tax Law
The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and...
On Behalf of Demetrius J. Karos, Ltd. | Apr 17, 2020 | Tax Evasion
You do your best on your taxes, but they are complex. You have multiple jobs, some write-offs and file with your spouse. You don’t usually have to pay, but when you do, you pay whatever you’re told you owe. That’s why you were shocked when you were informed that you...
On Behalf of Demetrius J. Karos, Ltd. | Apr 8, 2020 | Tax Law
For some, taxes are fairly straightforward. They have been working for a company, getting an hourly wage. They have just one source of income. They’re young and single, and their taxes get taken out of each paycheck before they get it. All they have to do is report...
