by Steven J Weil, PhD, EA, LCAM | Jun 2, 2023 | Blog, Business Tax, Personal Tax
In most cases the IRS has 3 years from the last day of the date your return was filed OR your return was due. However, this time limit, also known as the statute of limitations, can be extended under certain circumstances. The statute of limitations can be extended...
by Steven J Weil, PhD, EA, LCAM | Jun 1, 2023 | Blog, Personal Tax
WRONG. This is an old and false argument which the courts have dismissed time and time again. U.S. taxes are not voluntary. The U.S. tax system is based on the principle of compulsory compliance, meaning that taxpayers are legally obligated to pay their taxes as...
by Steven J Weil, PhD, EA, LCAM | May 29, 2023 | Blog, Business Tax, Personal Tax
If you can’t pay the taxes you owe, don’t just ignore the IRS. Instead consider your options. The IRS offers a number of plans for those that can’t pay. These plans include: long and short-term payment plans, temporary collection delays for those experiencing...
by Steven J Weil, PhD, EA, LCAM | May 1, 2023 | Blog
You should file as soon as possible, as those who owe taxes are subject to penalties and interest for late filing and late payment. The penalties and interest apply to any taxes owed after April 18. Interest and penalties will continue to accrue until the balance is...
by Steven J Weil, PhD, EA, LCAM | Apr 11, 2023 | Blog, Personal Tax
How do you file a tax return? Step 1 – Gather all your income and expense information for the year. If you’re not sure what you need you can look at last year’s tax return or check out the FREE Tax Organizer that can be downloaded from our website at Useful...
