Many Massachusetts residents are behind on their tax payments. It happens, and its nothing of which to be ashamed. If you find yourself in this position and you fail to take steps to rectify the situation promptly, you may find the Internal Revenue Service taking the...
Month: August 2020
How the crucial skills of a tax attorney help your business
Entrepreneurs rely on a team of third-party professionals when they operate their businesses. And while creating or building a business, they go through an important checklist. Create a business plan? Check. Line up investors? Check. Secure office space? Check....
Tax audits do not have to scare taxpayers
Many Massachusetts residents likely let out a sigh of relief when they finally filed their tax returns. For some, that relief may have been short-lived as they received a notice from the Internal Revenue Service about an audit. Before panicking, it is important that...
What you need to know about an Offer in Compromise
The stress that comes along with having tax debt one cannot pay can be overwhelming. Unfortunately, that stress is something numerous Massachusetts residents are feeling right now as many are struggling financially -- for various reasons. The last thing anyone wants...
Scams the IRS says to watch for after filing tax returns
Even during the current circumstances plaguing the country, there are still people out there who would take advantage of others for financial gain. Each year, the IRS identifies certain tax scams to watch for, and some of them come into play after Massachusetts...
Understand federal rules regarding offshore accounts
It is not a good or realistic idea to use an offshore bank account as a tax shelter. It is illegal, and the IRS always has had a penchant for cracking down on tax evaders. The government agency requires U.S. citizens to report ownership of foreign assets or have...