You Could Owe Taxes On Canceled Debt-canceled stamp

You Could Owe Taxes On Canceled Debt

Did you know that you could owe taxes on debt that was canceled? Well, you could. This is how it works. When you owe creditors money that you can't afford to repay, sometimes you may be able to get…


ow Are You Handling Your Finances - couple looking at papers with computer

How to Handle Your Taxes During an Economic Crisis

Whether it is a global pandemic shutting the economy down for months on end, a stock market crash that leaves formerly giddy investors frightened and nervous or a housing crisis that makes real…


Time to come clean about your crypto holdings- graphic with crypto across the image

Time to Come Clean About Your Cryptocurrency Holdings

After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin, and other cryptocurrencies are finally getting scrutinized by the IRS its time to come clean about taxes on…


Steps to Take if You Received a Surprise Tax Bill

There have been a lot of stories about surprised taxpayers this year, and many of those surprises were decidedly unpleasant. Taxpayers who had received large refunds for years were shocked to find…


Small Business Owner Owe Payroll Taxes Here’s What To Do

Small Business Owner: Owe Payroll Taxes? Here’s What to Do.

The IRS takes unpaid payroll taxes seriously. These are some of the worst kind of back taxes you can owe. If you’re a small business owner with payroll tax problems, read on to learn what you can do…


Haven’t Filed Taxes in a While?

How long has it been? 3 years? More? 10? Some people have never filed taxes. Why not?  “I knew I owed them, and I didn’t want to face the consequences.” “I couldn’t gather all of my records.” “My ex…


More Recent Tax Cases You’ll Enjoy Reading About (Tax Fraud)

If you liked our last stories, these will blow you away. Shirley, N.Y. In our first short story, we’ll introduce Fred Towle Jr., 52. Towle pleaded guilty to endorsing a false return for 2012 that…


7 Recent Tax Cases You'll Enjoy Reading About

Warwick, R.I. Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to the court, Petrarca owned and operated the tax prep business Stratus…


irs warns of scams due to natural disasters, tornado, hurricane, house

IRS Warns Taxpayers to be Alert for Scams Related to Natural Disasters

Let's talk tax scams. According to the IRS, some scammers impersonate charities or operate bogus charities to get money or private information from well-intentioned taxpayers. For example, some have…