The Tax Day deadline of April 15 has passed. Some taxpayers got their taxes in order and sent in early while others rushed to make the deadline. Regardless of which group you found yourself in, you may have put that return in the mailbox only to realize you made a mistake.
Tax evasion. It sounds like the type of crime that is used by the government to prosecute heinous offenders who have otherwise hidden evidence and appear innocent of wrongdoing. When people think of tax evasion crimes they may think of Al Capone and other mafia leaders or drug lords. In reality, tax evasion is a crime on its own. One the Internal Revenue Service (IRS) can use to recoup funds from any taxpayer that fails to meet their tax obligations and potentially put the accused behind bars.
College students are making the most of the gig economy. The ability to sell stuff on Etsy or E-bay or make some extra cash using their vehicle with Uber or Lyft. Although these side gigs can result in some serious side income, they also can make tax obligations more difficult to navigate. Here are three reasons why: classification, withholding and different tax forms.
Tax Day signifies a payment due date for more than just individual’s income tax returns. The Internal Revenue Service (IRS) also expects payment of the first quarterly tax payment for 2019 on April 15.
The United States Department of Justice (DOJ) continues to crackdown on tax preparation fraud. The government takes the threat so seriously that the Internal Revenue Service (IRS) has listed return preparer fraud as one of its Dirty Dozen Tax Scams.
The Internal Revenue Service (IRS) recently expanded the penalty relief for taxpayers who owe taxes for the 2018 tax year. In the past, the agency would charge a penalty on taxpayers who failed to pay at least 90 percent of their tax obligation during the tax year. Employers generally take these tax payments as withholdings from the taxpayers’ paychecks paid directly to the IRS.