Tax Matters - The Top Tax Defenders Blog

Small business owners have the unique obligation to report and pay their taxes quarterly. While the IRS wants this process to be relatively straightforward and simple, you still may be confused about what is actually expected of you at the end of every quarter. You can learn how to file the 941 employment tax form and avoid expensive fines and penalties by keeping these tips in mind.

The 16th Amendment instituted the personal income taxes that people are accustomed to paying each year. While people understand that they pay their income taxes directly to the federal government, they may not realize that they also are paying indirectly paying taxes when they go shopping for their favorite consumer goods.

Many university students need to take out student loans to pay for their tuition, books, and other school-related expenses. As helpful as these loans are, they also require that borrowers pay them back in due time after graduating or leaving college.

When you fail to make payments or you default on your loans entirely, you invite the federal government to collect on your debt with other means. You can protect your finances and take control of your loans by learning more about student loan garnishments.

The IRS employs a variety of professionals whose sole purpose is to collect on delinquent taxes, penalties, and other monies owed to the government. IRS revenue officers play a central role in the collection process. When you owe money to the IRS, it is important that you learn what a revenue officer is and what duties and limitations this individual has when collecting on your obligation.

Dealing with the IRS may call for expertise and knowledge you do not possess. If you use the wrong approach when trying to file your taxes or settle an outstanding tax debt, you could run afoul of tax codes and also owe more money than necessary. When you want to handle your tax case the best way possible, you should learn the five important ways that an IRS attorney can help you today.

Choosing the best tax filing status can be a challenge if you are not certain which one applies to your situation. If you choose the wrong status, you could owe more money than necessary to the IRS. You may be able to lower your tax rate and get a higher standard deduction if you meet these criteria for filing Head of Household.

The IRS makes a point of collecting every dollar owed to the federal government. It combs through returns each year to ensure that taxpayers did not cut corners when filing and submitting returns. If your own return has been set aside for review, it is important that you use these five tips to survive an IRS tax audit.

When you owe the IRS a large sum of money, you may fear that you will never outlive the debt. You may foresee a future of payments that extend well into your middle age or retirement. Before you despair of being clear of your back taxes, you should understand these four important aspects about the IRS collection time frame.

Among the things that married couples share, their tax returns can be the most damaging if one spouse fraudulently or falsely reports information to the IRS. This person's actions could adversely affect the other spouse, who may be unfairly held liable for any money owed to the government.