Dealing with tax controversies can be daunting, especially when one spouse finds themselves held responsible for the other's tax troubles. In California, there is a safety net for spouses who find themselves in financial hot water due to their partner's tax mistakes....
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Year: 2023
5 common mistakes people make with IRS installment agreements
Navigating the intricacies of IRS installment agreements can be a challenging task. Many individuals inadvertently make mistakes that can lead to financial consequences. Understanding these pitfalls is important to ensure a smooth and successful resolution with the...
Steps to take if you have missing IRS refunds
When you realize you have missing tax returns with the IRS, taking prompt action is crucial. Otherwise, you could receive fines, interest and other penalties. Understanding the steps to fix this issue can remove some of the stress from the process. Gather necessary...
How long does it take for California tax debt to expire?
Tax debt can be a significant burden for many individuals and businesses in California. Understanding when and how tax debt expires can help you manage your financial obligations and plan for the future. In California, tax debt does not last indefinitely, but the...
Tips for avoiding a tax audit
Tax audits are a daunting prospect for anyone. They can be time-consuming and may result in financial consequences. To minimize the chances of a tax audit, various strategies help maintain your financial security and ensure you comply with tax laws. Deliver accurate...
The importance of choosing the right tax filing status
Tax season can be a bewildering time for many individuals, as the complexities of the U.S. tax code can seem overwhelming. However, one of the most fundamental decisions you must make when filing your taxes is choosing the right tax filing status. The IRS explains...
Navigating a tax audit for the first time
IRS audits can be a daunting experience, especially if you have never been through one before. Tax audits can happen at random or due to discrepancies in your tax returns. When you receive an audit notice, carefully read it to determine the type of audit and the...
Could confusing tax laws land you in trouble?
According to CNET, the IRS audited only 0.4% of tax returns in 2022. Even though the chances of an audit are low, many people may still be at risk. Tax laws are notorious for their complexity and intricacy. The ever-evolving tax code, filled with numerous rules,...
Are you responsible for your spouses’ taxes after they pass away?
Losing a loved one brings with it a multitude of emotions and challenges. Among the list of things to navigate during these difficult times is the often complex world of financial matters. One question that may emerge is the responsibility regarding your spouse's...
What currently not collectible means for your taxes
If you owe money to the IRS for taxes, you likely will have to make payments to avoid unpleasant consequences. These negative outcomes include fines, interest charges and perhaps even jail time. In some circumstances, though, the IRS can temporarily suspend your need...