No one wants to receive a notice from the Internal Revenue Service (IRS) of a tax audit. The prospect of IRS agents going over your financial records with a fine tooth-comb, looking for any discrepancy or mistake, is certainly an unpleasant prospect. And if they do...
With apologies to the character Shrek from the eponymously named movie, tax law is very much like an onion. Although many would suggest that the Internal Revenue Service (IRS) is very much like an ogre, the determination of an answer to many tax questions is akin...
Tax information is valuable. Because your income tax filings contain a significant amount of private, confidential information, and because much of that information has an economic connotation, the Internal Revenue Service (IRS) has again warned all taxpayers to be...
Professional athletes have more complex finances than most of us. Because of their large salaries, many states and cities demand that they pay income taxes on the percentage of income attributed to the games they play in those states or cities. Cleveland is one of...
With tax law, it is all about definition. There is no, or at least little, logic behind the functioning of much of the tax code. This is because the tax code is not written by the tax equivalent of Plato’s philosopher-kings, but by politicians in Columbus. And many of...
Taxes are never simple. Even otherwise straightforward taxes, like the Ohio state sales tax can vary, as some municipalities add a local sales tax that increases tax rate. For something like property tax, it can become a significantly more complex matter, especially...