Karos Law’s Blog

Want to contribute to a company retirement plan but cash flow is tight? The government offers credits to minimize some of the sting that is caused when contibuting to a company plan.Consider these options before you decide not to make that retirement...

Avoid those awkward surprises when your tax preparer hands you your return and there is a large balance due or a very large refund. With a small amount of planning, you can tip the scales in your favor and avoid surprises, penalties or simply letting the IRS hold too...

There is a tax deadline looming and if you have not filed, it is important to file timely. Late filing triggers additional horrendous penalties and pain. If you do not have the funds at the time of filing, file the return and either seek a payment plan or pay the...

Scam artists are always looking for the next victim. Many are searching databases for taxpayers that may owe the IRS money or have a tax lien. The next step is the scam artist will call the taxpayer with an urgent message to pay them right away. The following...

If you make a mistake on your tax return, speak to your tax preparer to determine whether an amended return should be filed. You may be entitled to a refund or you may owe money. Being proactive could eliminate future notices from the IRS for unreported income and may...

Many of us focus on the Federal tax and forget the tax hit caused by the state tax. Here is an article with 10 states that are expensive in more ways than just the income tax.http://finance.yahoo.com/news/10-least-tax-friendly-states-150706051.html

Education can be expensive.  Tuition, books, and supplies, all of these costs add up. Congress recognized this cost and provided the taxpayers with various credits to take some of the sting out of the significant outlay for the cost of higher education. Here...

With all the scammers and misinformation out there, the IRS is providing information out there for us to be informed. Options include Facebook, Twitter, Podcasts and an excellent website.Remember: Knowledge is Power. Use IRS Social Media Tools Social media is a...

Moving can be very stressful as well as an expensive process. The current tax law provides for a deduction for some but not all moving related expenses. A little planning can take some of the sting out of a move. Unfortunately, there is no help for the stress....

Criminals get creative everyday. A taxpayer can always consult with an accountant or an attorney before proceedings begin. Knowing your rights and options can provide a better solution and may help avoid some of the current scams by criminals posing as an IRS...