Comprehensive Tax & Legal Solutions
Many people in Toledo are looking forward to getting their income tax refund. Some see this check issued by the IRS as a sort of “bonus,” though in fact it was their money all along. But what happens when the check never arrives? It could be because the taxpayer has...
Most taxpayers know that income is taxed at different rates, depending on how much the taxpayer has earned in the year. For instance, in 2013 a single taxpayer paid 25 percent on the income he or she earned above about $36,000, and 28 percent on income above about...
Everyone knows that the due date for filing your federal income taxes usually is April 15. But for one reason or another, sometimes taxpayers are unable to file by that date. Sometimes an emergency has arisen that kept you from taking care of it. Or key documents have...
Unclaimed funds are any moneys, rights to moneys, or intangible property held by another person or organization that has not had contact with the owner for a specific amount of time. After the specific amount of time, the funds are then placed with the State of Ohio,...
The IRS has the power to put liens on your property and even seize it outright, garnish your wages and do other things to those it accuses of owing back income taxes. Soon, it will also be able to limit your ability to travel. Fortune reports that, starting in...
It was way back in January when we first discussed the way the city of Cleveland taxes professional athletes’ income when they come to town to play one of the local sports teams. As we explained then, currently Cleveland calculates the taxes on visiting NFL players...
The IRS audited the income tax returns of slightly more than 1.2 million people during the last fiscal year. That may sound like a lot of audits, but it is actually the fewest the IRS has pursued in 11 years. To put it another way, the audit coverage rate for last...
If you own and operate a business in Ohio, you probably know that you have to pay taxes. Knowing that you must pay your income tax, the income tax of the business and some other taxes is common knowledge. There are also various state taxes and, depending on where you...
Sometimes life overwhelms you and wreaks havoc on your finances. The loss of job, a serious illness or disability, divorce, the failure of a business, these are some of the common reasons I hear from people who seek help with their IRS, State and Local back tax...
Owing back taxes to the IRS is a very serious matter. However, familiarity with IRS procedures and limitations will help keep the burden from overwhelming you. Naturally, the IRS wants you to pay as much as you can and as quickly as possible. This is primarily because...