Working The Puzzle From All The Angles
On Behalf of Demetrius J. Karos, Ltd. | Apr 3, 2024 | Tax Controversy
Tax law is very complex, and the rules for tax returns change regularly. The value of different credits, the way the Internal Revenue Service (IRS) taxes certain assets and various other income tax rules fluctuate based on current policy rules and economic trends....
On Behalf of Demetrius J. Karos, Ltd. | Apr 2, 2024 | Tax Law
Running a small business is often a rewarding experience, but tax season can inspire a wave of stress. If your business finds itself facing a hefty tax bill you can't seem to manage, it can feel like the end of the road. Thankfully, the IRS offers a program called...
On Behalf of Demetrius J. Karos, Ltd. | Mar 22, 2024 | Tax Controversy
Falling behind on business taxes can be stressful for any small business owner. Whether due to unexpected financial hardship, bookkeeping mistakes or simply being overwhelmed, neglecting tax obligations can lead to a stack of overdue returns and a growing sense of...
On Behalf of Demetrius J. Karos, Ltd. | Mar 11, 2024 | Tax Controversy
Owning a small business is often a rewarding journey filled with challenges and triumphs. One of the most significant challenges entrepreneurs face is navigating the complex world of taxes. Unfortunately, even with the best intentions, misunderstandings or unforeseen...
On Behalf of Demetrius J. Karos, Ltd. | Mar 5, 2024 | IRS
The Internal Revenue Service (IRS) collection process is a structured procedure for recovering unpaid taxes. When a taxpayer fails to pay their tax debt, the IRS sends a notice of the outstanding amount, including any penalties and interest accrued. This initial...
On Behalf of Demetrius J. Karos, Ltd. | Feb 4, 2024 | Real Estate
There is a lot at stake during a residential real estate transaction. Buyers usually need to deposit earnest money when making an offer, and they could lose those funds in certain situations. They could end up overpaying for a property because the seller doesn't make...
On Behalf of Demetrius J. Karos, Ltd. | Feb 3, 2024 | Estate Planning
The approach that some people take to estate planning involves getting the process over with as quickly as possible. They find it unpleasant to think about what happens after they die and may rush through the process. Frequently, people may choose to draft a will and...
On Behalf of Demetrius J. Karos, Ltd. | Jan 5, 2024 | Tax Law
Two primary tools often come into play in IRS collections: liens and levies. These mechanisms are pivotal in the agency's approach to collecting unpaid taxes. Understanding their nuances makes it easier to navigate tax issues. Liens and levies, although terms used...
On Behalf of Demetrius J. Karos, Ltd. | Dec 6, 2023 | Tax Law
It is a very common practice to have one spouse manage household finances while the other simply signs the paperwork for taxes and banking. It doesn't technically take two people to file an income tax return, and dividing household work is more efficient when each...
On Behalf of Demetrius J. Karos, Ltd. | Nov 2, 2023 | IRS
Undergoing a tax audit is one of the most stressful “everyday” experiences a person could ever endure. Knowing that the Internal Revenue Service (IRS) takes issue with one's tax return and that there are possible financial or criminal consequences possible is not an...
