Few life events are likely to cause you more consternation than an Internal Revenue Service audit. After all, an auditor might find problems with your tax return, potentially exposing you to stiff penalties. Fortunately, though, according to the IRS, tax audits remain...
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Tax Controversies
What is the Taxpayer Bill of Rights?
Adopted in 2014, the Taxpayer Bill of Rights is a document that summarizes your legal rights as a taxpayer. These rights were in place prior to 2014, but the Taxpayer Bill of Rights presents them in a straightforward manner. What are your rights as a taxpayer? The...
What distinguishes a tax lien from a tax levy?
Even if you have a mortgage, your house undoubtedly is one of the more valuable things you own. Indeed, according to Zillow, the average home value in the White Plains area is currently more than $750,000. Whether you want to keep your house forever, sell it or take...
Are tax havens legal?
As the old saying goes, "nothing is certain except death and taxes." Despite the certainty of taxes, many people take steps to reduce or even avoid paying them altogether. It is common knowledge that tax avoidance and evasion are not acceptable in the eyes of the IRS,...
Do you understand the basics behind tax evasion?
Tax law is not always easy to understand. With complex terms and conditions, finding yourself in trouble with the IRS may prove avoidable if you get a basic grasp of some of the more common illegal practices. Evasion is one that many may commit without any intention....
What is a tax controversy?
Whether a business owner or a CEO, you want to stay out of trouble with the IRS. That said, sometimes you may be in a tax controversy that can lead to litigation. You need to know the following information if you are in this situation. What are tax controversies? Tax...
Can the IRS force a former spouse to pay a debt?
You do not want the stress or responsibility of a tax debt hanging over your head. What happens when a former spouse does not pay the requisite taxes? Can the IRS come after you? Many factors determine whether or not the government can collect your ex-spouse's debt...
What happens during an audit?
No one wants to pay more taxes than required. An IRS audit notice may prove stressful. While you believe you have carefully reported necessary information, you may start to second guess everything. To minimize the stress, it may help to understand the reasons behind...
Will I owe New York State taxes if I own a vacation home there?
A vacation home in New York may cause you to owe taxes to the Empire State even if you permanently reside elsewhere. According to Section 605 of the NY State Tax Law, spending more than 183 days in the state during a one-year period could incur a tax liability. The...
What should I do when filing taxes if my employer improperly misclassified me?
In general, when you work for someone else, you will either be an employee or an independent contractor. Employees are more costly to the employer, so it is very common for them to try to classify workers as independent contractors. But the requirements for this...