Federal income taxes are regulated by the Internal Revenue Service (IRS) and state taxes are governed under the Illinois Department of Taxation. While both government entities maintain websites and offices to provide information, compliance with taxes can be a complex web for people to navigate on their own.
You know your personal income is subject to taxes, and this year things may have gotten a little more complex for you. Whether it is inheritance you just received, proceeds from sales of stocks or real property, your earned and unearned income is subject to taxes.
Your earned income includes your wages, salary or commission you are paid from your job. Your unearned income includes those dividends, interest, rents or gains from the sale of assets. Additionally, if you have income from more than one state, you may be required to file in more than just your home state. This adds to the complexity of a typical tax return.
Our firm can prepare your tax return even if your year included cancellation of indebtedness, foreclosure and unfiled tax returns.
Is Your Business Growing?
Taxes are also levied on the profits for businesses, whether partnership, sole proprietorship or a corporation. At Demetrius J. Karos, Ltd., our experienced attorneys can prepare your business returns for your partnership or corporation as well as returns for a trust estate and fiduciary returns. Contact us to schedule a consultation.
Knowledgeable Tax Return Preparation
If you have any questions about a complex factor to your tax return, then bring it to someone with the experience necessary to make sure it gets done right the first time.
Demetrius J. Karos has successfully negotiated with the IRS on behalf of individuals and businesses before tax authorities in more than 20 states. Additionally, Mr. Karos has held executive finance and tax positions with several corporations. To learn more or to arrange a consultation in Frankfort or Naperville, call 800-465-6208, toll free at or contact us online.