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Category: Tax information

IRS Interest and Penalties: 2024 Update

Failing to file all necessary returns and pay all federal taxes when due can expose U.S. taxpayers to interest and penalties. This includes not only civil penalties but also criminal penalties in some cases. Interest and civil penalties begin to accrue immediately upon noncompliance, while criminal penalties can result from […]


Year-end tax tips to consider

The end of 2022 is right around the corner, making this a critical time for individuals and businesses interested in minimizing tax obligations and maximizing refunds. In the coming weeks, there are things you can do that can improve your financial outlook and avoid unfortunate surprises in 2023. Get organized […]

Tax information

How long do I need to keep my tax records?

Every year, you gather together all of your financial documents to file your taxes. Then you probably store them away in a box for a filing cabinet – or digitally on your computer. This process goes on for years. Pretty soon, you have an entire archive of your financial records […]

Tax information

The difference between avoidance and evasion

In his 2003 book “Perfectly Legal” writer and investigative reporter David Cay Johnston delves into the U.S tax laws. His mission was to show how the very rich escape– in a perfectly legal fashion–the paying of taxes. The book raised both eyebrows and concerns. Is the U.S. tax system rigged […]

Tax Evasion

Who can be a tax preparer?

While those who work in tax preparation are well-versed in this area, many people who go to a tax preparer are unaware of the differences. This post seeks to bring clarity to the different levels of education and certification a tax preparer may have. Anyone can call themselves a tax […]


5 surprising mistakes tax preparers make

Tax preparers, while being ever diligent, but still human, are prone to mistakes. When tax season hits the long hours and intense workload can increase the chances of an oversight. No one wants to make a mistake, especially on a tax return. While filing status is significant, other oversights or […]