In October, it is not common to talk about tax refunds. After all, most refunds come in February and March of the following year. But money managers and financial advisors must be frustrated at this time of year, because their clients commonly do not heed their...
Finding Real Life Solutions To Your Tax Problem
Attorney Robert T. Leonard
Los Angeles Tax Law Blog
What can trigger an audit
Before reading this post, you may think to yourself, "Who thinks about tax season during the fall?" The answer is that tax attorneys and accountants generally do. But the better answer is that you should think about it as well. Regardless of whether you are starting a...
What to do if your income tax refund check is wrong
For many people, tax season is not even on their mental radars. After all, it is September, which means football season and the start of a new school year. Nevertheless, it is never too early to plan for tax season, as it will come sooner than you think. In fact,...
How an attorney can help in dealing with the IRS
For those who have the misfortune of having to do so, dealing with the IRS is not always a pleasant experience; especially when you owe money to the federal government. Because of this frustration, changing the tax code is a popular topic among political candidates,...
Why planning early for tax season can help
For the most savvy savers, the preparation for tax season starts well before they receive a w-2 from their employer in January. This is because they likely know that a stellar income tax refund check is not an invitation to spend wildly for a month or buy something...
Why taxpayers should file their returns early next year
As we noted in our prior posts, many people don’t think about their upcoming tax returns in August. After all, tax season is about six months away, and most consumers are thinking about maximizing their spending power for Labor Day weekend sales. Nevertheless,...
Don’t forget about moving expenses
It may be unusual to think about taxes in August, since next year’s federal income tax deadline isn’t until April. However, there are a number of people who relocate in August; whether it is to go to a new school (i.e. college) or to start a new job....
Feeling pressured by the IRS about appeals?
A taxpayer may feel very vulnerable when they are in a dispute with the Internal Revenue Service. The IRS is a large government organization that has some very significant powers, so it can be very intimidating to face off against this organization. Sometimes, in...
Could some taxpayers lose subsidized health benefits?
It is not common to talk about income taxes, including forms, deductions and deadlines at the beginning of August. These issues are commonly reserved for March and April. But the reality is that more than 10 million taxpayers applied for extensions this year, and they...
How the IRS tries to catch taxpayers underreporting income
The IRS is aggressive in pursuing taxpayers it believes has underreported its income. The agency estimates that the federal government loses hundreds of billions per year in unpaid taxes due to underreported income, according to CBS News. This explains why IRS agents...