Paying taxes seems like a simple and straightforward process in New York and elsewhere, as tax time happens each and every year. However, it can be a very complex matter, causing some to file incomplete returns or improperly filing them. Whether an individual had the assistance of an accountant or not, it is important to become fully informed of their options if he or she is facing penalties for tax fraud or tax evasion.
Paying taxes may not be enjoyable or glamorous. However, it is something that individuals in New York and elsewhere must do. While filing tax returns seems like a routine process, mistakes can be made. These mistakes can look like intentional actions to evade paying taxes or to pay less than what one might owe. When the IRS is under the impression that a taxpayer is not in compliance with a tax law, an audit could ensue. This could evolve into a tax controversy.
The tax legislation from late 2017 made many changes to U.S. tax law. This includes changes to the child tax credit. These changes apply to tax year 2018, so they will be a factor next filing season.