Tax Matters - The Top Tax Defenders Blog

Did you, by chance, forget to file your taxes…say for the last ten years? Or maybe just this year; after all, everything’s been such a mess.

But how late is too late to file? The short answer is never. You can always file late. You just have to understand that it won’t be the same as if you filed on time.

Property taxes are a significant portion of the cost of owning real estate, usually one percent to three percent of the home’s value to be paid annually. Since property taxes are permanent, anything that can reduce your tax liability will probably perk your ears right up. So, get your ears ready to perk, because the tax reduction term for today is tax abatement.

It’s always a good feeling when you can lower your tax burden. One way that may be open to you is through a vehicle sales tax credit. Since a car, boat, or other vehicle is a significant expense, the amount of tax credit could potentially erase your tax payment.

Editor’s Note: This post was originally published in August 2020 and has been updated for accuracy and comprehensiveness.

One of the easiest ways to get in trouble with the IRS is by committing tax evasion. Just the words - Tax Evasion - sound like they should be accompanied by those tonal beats from Law and Order. 

Can you get a refund if you owe back taxes? The simple answer is … maybe. As in, it depends on whether you owe less in tax debt than you have coming to you as a refund. There are several reasons the IRS might hold up your refund or seize it to pay for other debt.

Sometimes you need a little help with your taxes that a preparer or CPA can’t help you with. A tax attorney, on the other hand, fits the bill nicely. Taxes, like most other legal issues, are complex bordering on absurd. It takes someone with experience and the right skills to help you hack your way through the jungle of rules, regulations, and other entanglements.

Can your federal benefits be garnished? In today's business climate, that is a fair question. Unfortunately, there isn't a quick answer other than "It depends."

With the recent quarantine shutdowns and job losses, everyone is feeling the pinch. Some more than others. Now it’s time to file and pay income taxes.

Like a certain Marvel Universe bad guy, the IRS seems inevitable. And most people aren’t Iron Man, not even close. But luckily you don't need superpowers to face a  compliance check.

In 2017, the IRS collected $2.39 trillion (yes, that’s with a ‘T’) in payroll taxes. That amount represented 70% of all federal tax revenue collected for the year.