August 31st, 2020 → 5:48 am @ Kristin Williams // No Comments
You were so cautious about paying your taxes on time that you made an error on the return. That simple error meant that you overpaid by a few hundred dollars, which you’d like to get back from the Internal Revenue Service. Did you know that you are able to request a refund if you overpay on your taxes? You may…
The post Overpaid your taxes? It’s your right to request a refund appeared first on The Law Firm of Lance R. Drury.
August 31st, 2020 → 5:48 am @ Kristin Williams // No Comments
You were so cautious about paying your taxes on time that you made an error on the return. That simple error meant that you overpaid by a few hundred dollars, which you’d like to get back from the Internal Revenue Service. Did you know that you are able to request a refund if you overpay on your taxes? You may…
The post Overpaid your taxes? It’s your right to request a refund appeared first on The Law Firm of Lance R. Drury.
August 18th, 2020 → 5:14 am @ Kristin Williams // No Comments
Do you feel nervous when you do your taxes? Maybe you don’t want to pay someone to do it for you — or you can’t afford it — and yet you are well aware that no one ever taught you how to do your taxes. You just try to fill out the forms as well as you can, constantly worrying…
The post People do make tax mistakes appeared first on The Law Firm of Lance R. Drury.
August 10th, 2020 → 7:38 pm @ Kristin Williams // No Comments
If you are like most Americans, you may get a little creative in your efforts to reduce your tax obligations and maximize the percentage of your annual income that stays in your accounts. Unfortunately, if you underpay your taxes because you get a little too aggressive with your attempt to avoid taxes, you may receive a notice of deficiency from…
The post What costs will the IRS assess on your underpayment of taxes? appeared first on The Law Firm of Lance R. Drury.
August 4th, 2020 → 11:17 am @ Kristin Williams // No Comments
Some people wonder if they submit the IRS form 8275 with their tax return that they will be subjected to an increased risk of audit, but this isn’t necessarily the case. There isn’t anything in the tax code that requires the IRS to audit returns based on the inclusion of this form. The form 8275 is used when there is…
The post Does a disclosure on tax forms lead to an audit? appeared first on The Law Firm of Lance R. Drury.
July 27th, 2020 → 9:08 pm @ Kristin Williams // No Comments
The last thing you want to receive in the mail is a notice of a tax audit from the IRS. The more you read, the more concerned you’ll become with your future. While this is a scary time in your life, it doesn’t have to be. There are steps you can take to better understand the process, how to protect…
The post How to best prepare for a tax audit appeared first on The Law Firm of Lance R. Drury.
July 22nd, 2020 → 8:54 pm @ Kristin Williams // No Comments
In the United States, rather than having trained professionals do the taxes, the government just asks citizens to do it on their own — regardless of their level of education or understanding of tax laws. Everyone has to file by a certain date with their own paperwork. That goes for everyone from the finance professor at the local college to…
The post Is tax software accurate? appeared first on The Law Firm of Lance R. Drury.
July 6th, 2020 → 4:44 pm @ Kristin Williams // No Comments
When you owe money to the Internal Revenue Service, the worst thing you could do is ignore the bill. When you don’t make the necessary arrangements to settle your debt, the IRS may sell or seize your property. The IRS could take anything from you, like your: Home Wages Retirement accounts Boats Bank accounts Usually, people receive many notices and…
The post Don’t let the IRS levy your property: Get help appeared first on The Law Firm of Lance R. Drury.
June 26th, 2020 → 2:55 pm @ Kristin Williams // No Comments
Your work was going very well in the first part of the year, so you planned to take your profits and build up. Suddenly, your sales dropped off, and you were left barely scraping by. As tax time came around, you realized that you were self-employed and would need to come up with several more thousand dollars than you have.…
The post Don’t have enough for your taxes? Consider an installment plan appeared first on The Law Firm of Lance R. Drury.
June 14th, 2020 → 3:49 pm @ Kristin Williams // No Comments
When it comes to the payment of income taxes, the Internal Revenue Service (IRS) is substantially less worried about overpayment than it is about underpayment. Individuals who don’t pay their full amount of taxes could wind up paying not only the balance of unpaid taxes but also substantial penalties and interest. In some cases, the IRS can also take legal…
The post Do you know the difference between tax avoidance and evasion? appeared first on The Law Firm of Lance R. Drury.
