Archive for the ‘Taxes – Individuals’ Category

How Far Back Can IRS Claim Tax Evasion?

Posted: May 21, 2015 in Taxes - Individuals
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Here’s a simple but excellent article about the IRS Statute of Limitations for various situations, starting with the basic rule that the IRS has 3 years after you file to audit you, and going on to more complex situations:

http://www.forbes.com/sites/robertwood/2015/03/30/scariest-tax-errors-they-extend-irs-audits-to-six-years-or-endlessly/

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What Really Happens If You Don’t Pay Your Taxes?

Posted: May 11, 2015 in Taxes - Individuals
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This year I’ve helped many people who for various reasons didn’t file their 2013 returns – sometimes out of fear, confusion, lack of time, disorganized records or not having the money to pay the bill.  It’s important to make sure you file even if you don’t have the money.  The article below did a fine job of explaining why it’s important to avoid the “failure to file” penalty, which is often much worse than the failure to pay penalty.

Click below to read the full article from Yahoo! Finance:

http://finance.yahoo.com/news/what-happens-if-I-don-t-pay-file-my-taxes–150649485.html