If You’re in Debt to the IRS, Be Wary

tough times - tough economy

Be careful with tax experts that promise to make your IRS problems go away. One of the scariest types of correspondence that a small-business owner can recieve is a request from the IRS for more information. Debt to the IRS could lead to an audit which requires payment of back taxes, interest and penalties. In some cases, the amounts can reach tens of tousands of dollars or more. If your business is going through a rough patch and can't afford to pay the IRS what is owed, then some people throw … [Read more...]

Qué hacer si no puedes preparar tu declaración de impuestos a tiempo

Income taxes

Declaración de Impuestos La declaración de impuestos vence el 15 de abril. Si todavía no has llenado y enviado tu declaración, aún tienes tiempo para hacerlo bien. ¡No hay por qué desesperarse! Casi la mitad de consumidores esperan para llenar su declaración a pesar de que se podía enviar desde finales de enero. Esto no solo se debe a una falta de organización, sino que la realidad para muchos latinos es que su día está lleno de tareas de trabajo y deberes personales y no les queda mucho tiempo … [Read more...]

The Two Most Important Days in April, tax returns are due April 15th

Tax preparation

Everyone knows there tax returns are due April 15th. But did you know there are other tax deadlines this month? Eva Rosenberg at MarketWatch brings up a great point—everyone thinks that April is tax month because returns are due on the fifteenth. While that's true, it's only one of the several tax return deadlines that affect small-business owners over the course of the month. By focusing exclusively one date, you run the risk of missing other important deadlines. If April wasn't busy enough … [Read more...]

The IRS has started using Facebook and Twitter to see if tax returns match lifestyles.

Fraud

Tax Faux Pas: Why You Should Think Twice Before Instagramming Your New Mercedes. The IRS has started using Facebook and Twitter to see if tax returns match lifestyles. The difference between what the Internal Revenue Service believes taxpayers owe and what they actually pay is referred to as the tax gap. Given the strained financial position of the U.S. Federal Government, the agency is now turning to a new resource to make it more difficult for taxpayers to perpetuate this fraud. It is … [Read more...]

File Early! Tax Tips for 2013

Tax preparation

Utter the word “taxes” and you’ll get a shudder from most Americans across the country. Here are tax tips for the 2013: While the filing deadline for personal income taxes may not be until April 15th, both financial experts and your average Joe will tell you that this is one area where procrastination should be avoided at all costs. For Latinos, who are not always known for their punctuality, now is when they should be getting their financial affairs in order, experts say. “The first … [Read more...]