Tag Archives: Chicago Tax Attorney

Are You Liable for Your Spouse’s Tax Debts?

Married couples are supposed to share everything – right? Well, this is not the case when it comes to back taxes. If you find out – or already knew – that your spouse has unpaid tax debts, you will likely … Read More

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Ten Years Behind on Your Taxes – What Should You Do?

Many people may think it is difficult to fall a decade behind on your taxes. However, having multiple years of returns pile up happens easier than you may believe. Many people fail to file one year’s return and then think … Read More

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Student Loans and your Credit Score

Student loans do not necessarily negatively or positively affect credit ratings. However, whether or not the student responsibly handles paying off the loans is what ultimately influences credit. Below are two things you can do to keep student loans from … Read More

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Famous Tax Evasion Cases

Many people do not think about how serious tax evasion cases can be until they hear that a famous name has been hit with a huge tax bill or has been sentenced to a prison term for evading taxes, The … Read More

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Levels of Notice from the IRS

If you have not filed your taxes in several years or have not submitted the necessary tax payments with your returns, you may be living in apprehension that that IRS will show up on your doorstep demanding payment or threatening … Read More

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How Long Can the IRS Pursue Back Taxes?

Once you file a tax return and it is accepted by the IRS, you may think that taxes for that year are now firmly in your past. However, the IRS looks at tax returns on a regular basis to identify … Read More

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Getting Through an IRS Audit

Let’s face it–taxes are not fun. The Internal Revenue Service (IRS) is one of the most disliked federal agencies because it collects money from taxpayers and enforces so many complex laws and requirements.1 Tax laws often leave people feeling confused … Read More

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5 Tips To Reduce IRS Penalties

When it comes to paying taxes, the IRS has a no-frills approach to applying penalties for a variety of different reasons. The three most common reasons and their associated penalties include: Filing taxes late. Penalty up to 25% of unpaid … Read More

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IRS OVDP Vs. STREAMLINED

Tax payers who have failed to disclose offshore accounts and properties on their tax returns received a “pass” in 2009 when the Offshore Voluntary Disclosure Program was introduced. Under this program, individuals who choose to voluntarily disclose their assets from … Read More

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Avoiding Tax Penalties Through Voluntary Disclosure

In 2009, the Internal Revenue Service launched a few different programs to help companies and individuals with funds in offshore accounts come to terms with the tax liability laws. For many years, it has been considered a loophole for wealthy … Read More

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