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It is one of the big fears a taxpayer may have, that they will one day receive a big bill from the IRS that they don’t have the money to pay. Some people’s gut reaction to getting bad news might be to ignore it and delay taking any action regarding it, so they don’t have […]

In addition to their federal tax liability, another thing that can have major financial implications for a person is what kind of state and local tax liability they have. States vary considerably in what level of taxes they place on their residents. A recent WalletHub report compared the tax rates of the different states. The study looked

Among the things an unpaid tax debt can expose a person to are tax liens. A tax lien can have many impacts on a taxpayer, including credit ramifications. Tax liens can show up on a person’s credit report, potentially significantly harming their credit score. As our readers may have heard, some upcoming changes were recently announced

Here in Missouri, among the big tax issues that are present for businesses are sales tax issues. Sometimes, disputes can arise between a business and the state over such taxes. Such disputes can come up for all different sorts of businesses. As a case that is currently before the Missouri Supreme Court illustrates, this includes

People in different stages of life can vary quite a bit in what tax issues are present for them. So, each age group can have its own set of tax mistakes it is particularly important to watch out for. Today’s post will be focused on tax mistakes for one particular group: people of retirement age.

Tax season is upon us. Among the things this means is that taxpayers are seeing a lot of tax documents. Sometimes, changes are made to such documents. Recently, some changes were made to a tax form that regards something many people here in the U.S. claim deductions in relation to: mortgage loan interest payments. We

Sometimes, a person encounters an unpleasant surprise after divorcing their spouse. This could include an unpleasant tax surprise. For one, they might be informed by the Internal Revenue Service that their spouse underpaid taxes on joint returns they had filed. Upon such a discovery, one thing a person might be quite worried about is that

Many people view interactions with the Internal Revenue Service negatively and as something to dread. There are various reasons for this. One is that such interactions sometimes happen in very stressful and high-stakes situations, such as situations in which a taxpayer is accused of having done something wrong on their taxes or told they owe

Tax season can have its challenges for any type of taxpayer. However, when a taxpayer owns a small business, there is a whole set of added potential headaches they can be facing. Business tax issues have many complex aspects. Given this complexity and other factors, many special challenges can come up for business owners when