Tax preparers have a weighty responsibility to not only understand tax rules but also apply them correctly. That means ensuring you have an adequate basis of information for claiming certain credits and statuses on behalf of a taxpayer. Failing to do so could result in stiff penalties against you in […]
The earned income tax credit (EITC) is one of the federal government’s largest anti-poverty programs. It can also be a source of headaches and possible penalties for professional tax preparers. Geared toward the working poor, the EITC program offers credits totaling nearly $60 billion each year. The program helps nearly […]
Many Texas residents may feel the urge to leave the state or even the country for an extended time. Some people prefer to live abroad for a year or two to gain a new experience while retaining their United States citizenship. However, even if a person is working in another […]
Though tax season only officially lasts for a few months out of the year for Texas taxpayers and those across the country, tax obligations are in effect all year long. Additionally, the Internal Revenue Service is continually on the lookout for instances of potential tax fraud. As a result, even after tax […]
If a taxpayer has concerns that their Texas tax preparer did not properly complete their obligations as a tax professional, the concerned person may approach the preparer in hopes of gaining answers. In some cases, a mistake or misunderstanding may be easily cleared up. In other cases, a taxpayer may suspect […]
Seeing money as a tool rather than a reward can often help Texas residents increase their wealth. The notion that spending money to make money rings true for many people, especially those who choose to invest. However, while investments can certainly prove profitable for investors, it is also possible for […]
Various ways exist for Texas taxpayers and those elsewhere to legally reduce their tax obligations. These methods are often known as tax avoidance, and many of them can allow individual taxpayers and companies to pay less taxes to the United States government. One way that parties do this is by […]
Trying to pull one over on the Internal Revenue Service by providing false information is not advisable. However, numerous people every year stand accused of providing false information to the IRS in hopes of gaining higher refunds, owing less in their tax obligation, or receiving some other type of benefit. […]
People who handle other taxpayers’ information for a living have complex jobs. Many people take tax preparers for granted and just want these professionals to get them the best refund possible. These preparers must fill out tax returns based on the information provided by the taxpayer, but they must also […]
Holding a job in a position of power can often mean that a person comes under greater scrutiny than others. When a person holds a job that involves handling financial aspects of a business, city, or other entity, that individual could be the first to come under suspicion when financial issues come […]