Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | May 10, 2019 | Tax Controversy
Many family members in Naperville and other parts of the Chicago community help their loved ones out by loaning them money. In many cases, these loans are either officially or unofficially forgivable.To give a practical example, few Illinois parents would honestly...
On Behalf of Demetrius J. Karos, Ltd. | Apr 26, 2019 | Estate Planning
Trusts are popular among residents of Naperville and other parts of the greater Chicago area primarily because they can keep a person's estate out of probate and greatly simplify the process of passing along property to loved ones after the person dies.In most cases,...
On Behalf of Demetrius J. Karos, Ltd. | Apr 12, 2019 | IRS
With April 15 coming up quickly, most residents of Naperville and the other Chicago suburbs are looking forward to filing their taxes, paying what they owe or collecting their refund and being done with income taxes for the year.However, some residents of Illinois and...
On Behalf of Demetrius J. Karos, Ltd. | Apr 4, 2019 | IRS, Tax Controversy, Tax Law
The last thing anyone wants to see when doing their income taxes is that they owe money to the IRS. It can be tempting to just ignore the situation. After all, there is no debtor's prison in the United States. However, the IRS is not powerless when it comes to...
On Behalf of Demetrius J. Karos, Ltd. | Mar 28, 2019 | Estate Planning
People who are disabled either due to an illness or injury or simply on account of condition they have had since early childhood may require a lot of care and support. Likewise, an Illinois resident getting along in years may suddenly find himself no longer capable of...
On Behalf of Demetrius J. Karos, Ltd. | Mar 15, 2019 | Tax Evasion
As many people who follow the news know, a large group of well-connected and wealthy people face multiple criminal charges for their role in a scheme to get their children in top schools.The point of the scheme, according to federal prosecutors, was to get their...
On Behalf of Demetrius J. Karos, Ltd. | Feb 28, 2019 | Tax Controversy
Many Illinois not-for-profit corporations, both in the Chicago area and in other parts of the state, may wish to try to take advantage of a special tax-exempt status awarded by the Internal Revenue Service, or IRS.Not only does this status give oftentimes critical tax...
On Behalf of Demetrius J. Karos, Ltd. | Feb 15, 2019 | Estate Planning
While it is quite easy for one to focus on what will happen to her property after she dies, it is equally important for a resident of the Chicago area to plan for what will happen to her as she ages and, consequently, starts facing health problems.When a person starts...
On Behalf of Demetrius J. Karos, Ltd. | Jan 31, 2019 | Estate Planning
If you are like other Illinois residents, part of your New Year's resolutions was to create an estate plan. Doing so could put your mind and the minds of your family members at ease. As you begin formulating your estate plan, you may determine that the addition of a...
On Behalf of Demetrius J. Karos, Ltd. | Jan 30, 2019 | Tax Controversy
When a person runs into a controversy over how much they owe in taxes to the United States, he or she, personally or in the name of a business, may take the matter before the United States Tax Court.This type of court is a little different than the more widely-known...
