When the IRS Pursues Criminal Charges: Things You Need to Know

April 9, 2024
The Internal Revenue Service (IRS) is responsible for enforcing tax laws in the United States. While most tax issues are civil matters that can be resolved through audits, assessments, and payment plans, there are instances where the IRS may pursue criminal charges against taxpayers for serious violations. Understanding when the IRS pursues criminal charges is…

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The Statute Of Limitations On Tax Evasion & Tax Fraud

March 27, 2024
Navigating the intricate landscape of tax laws and regulations involves understanding key legal concepts, including the statute of limitations on tax evasion and tax fraud. These statutes delineate the maximum timeframe within which legal proceedings can be initiated against individuals or entities suspected of tax-related offenses. In this comprehensive guide, we’ll explore the distinctions between…

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What Is Tax Compliance And Why Is It Important?

November 17, 2023
Tax compliance is all about playing by the rules when it comes to taxes. Whether you’re an individual or a business, it means following the laws and guidelines set by the government to report your income and pay the right amount of taxes. Staying on the right side of tax compliance helps keep things fair…

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What Is Tax Debt and How Can You Avoid Accumulating It?

November 1, 2023
Tax debt is a financial obligation that arises when an individual or business owes unpaid taxes to the government. This can occur due to underreporting income, failing to file tax returns, or making errors in tax calculations. Accumulating tax debt can lead to serious financial consequences, including penalties, interest charges, and legal action by tax…

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What Is An IRS Substitute For Return(SFR)?

October 20, 2023
Did you know that in situations where some taxpayers haven’t filed their federal tax returns, the IRS has the capability to step in? Through the Substitute for Return (SFR) program, as authorized by Internal Revenue Code § 6020(b), the IRS can take action to ensure that everyone’s tax obligations are met. If you find yourself…

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