Tax Matters - The Top Tax Defenders Blog

In 2019, 20,259 taxpayers used Low-Income Tax Clinics (LITC), where they received help to get $6.8 million in refunds from the IRS. The clinics also decreased or corrected around $50 million in tax liabilities. Finally, over 41,000 taxpayers and service providers sought and received educational services from a LITC. 

Nobody likes paying taxes, but there is a right way and a wrong way to reduce your tax burden. If you do it the wrong way, it’s called tax evasion, which can cost you big-time penalties and imprisonment. 

In 2019, the IRS received around 155 million individual tax returns. About 771,095 taxpayers got pegged for audit. While that shows slightly less than half a percent of a chance to be audited, it isn’t zero.

Tax problems create anxiety and a wish to bury your head in the sand, hoping everything will disappear. You don’t have to feel that way. You have many options to resolve your tax issues and solve any tax problem you might have.

If you did not pay your income tax liability or underpaid it, you now owe back taxes. Back taxes continue to grow by incurring interest and penalties, adding insult to injury. 

Just what you need in the middle of the holiday rush — tax planning activities. 

Taxes may be the last thing on your mind this time of year, but think of it as a Christmas present to yourself that will make tax season a little easier. 

*This post has been updated to reflect tax changes

If you have employees, you have endless administrative work to do, or so it seems. Payroll taxes are part of the package. But do you know what you need to know about withholdings, deposits, and the attendance paperwork?

If you are headed back to school as an adult, it’s nice to know you’ll get more out of it than an education. You could also save money on your taxes. 

So, you need to amend a tax return. Well, we all make mistakes. And sometimes documents show up after you try to be proactive about filing your tax return.