The nature of our federalist government, with federal and state governments sharing the power to govern, means that the taxes that we are required to pay at each level can actually differ drastically. Every year you pay both your state and federal income taxes (hopefully!), but you could be missing out on some important financial benefits when it comes to your taxes if you do not understand some of the major Read More

In our last blog we explained five things you should NOT do when faced with an IRS audit, including panicking, doing nothing, facing the audit alone, volunteering unnecessary information, and lying. With the help of an experienced tax law professional like Morgan Maxwell, an IRS audit can go incredibly smoothly, but if you handle the situation incorrectly, it can turn into the nightmare most people imagine IRS Read More

In previous blogs we’ve talked a lot about the things you should do in order to survive an IRS tax audit. There are many actions you can take to prepare and steps you can utilize to protect your rights. But while there are plenty of things you can do that will make an IRS audit go more smoothly, there is also a good deal you can do that will make an already stressful and precarious situation much worse. If handled Read More

Under some circumstances, you may be able to achieve an excellent settlement on your unpaid tax debt in the State of Pennsylvania. The Pennsylvania Department of Revenue is in charge of collecting state taxes. The DOR is similar to the IRS with regard to unpaid taxes in that you do have the ability to negotiate settlements with these organizations when you cannot pay your tax debt, but the quality of the Read More

“Did you ever notice that when you put the words ‘The’ and ‘IRS’ together it spells ‘THEIRS?’” - Author Unknown Many people are frustrated by the amount of their wages they have to turn over to the Internal Revenue Service in taxes each year, but the fact is, if you do not pay those taxes then the IRS has the power to take much more than that from you. The IRS has extremely broad powers that they are authorized Read More

The sheer number of regulations and the complexity surrounding business taxes can be incredibly overwhelming for owners, particularly small business owners who are new to operating their own company. Whether by negligence or ignorance, business owners end up paying far too much in tax penalties every year due to mistakes involving their company’s taxes. These costs can be almost entirely avoided by utilizing a Read More

Even the least tax savvy of Americans probably knows one thing about the IRS: if you screw up on your taxes you are going to have to pay more money. Unfortunately, there are a lot of ways to “screw up” your taxes, especially if you own a business. And sure enough, the first time you make a mistake is probably just when the IRS will decide to audit you. No one wants to pay more than they have to on their taxes just Read More

It happens far more often than you think. Many people believe the IRS is some infallible organization whose word is incontestable, but the truth of the matter is the IRS can and does make mistakes too. These mistakes can range from miscalculations on penalties or assessments to clerical and filing errors that could mistakenly cost you thousands. Even worse, once pen hits paper and a number is written, the IRS Read More

You know that feeling in school when you’ve studied hard for a test and felt extremely confident taking it, but you still get that pit of nerves and uncertainty in your stomach right before the teacher hands back the grades? Or even worse, the feeling in your stomach when the teacher is about to hand back a test you did not feel confident about. Getting a notice from the IRS that your taxes are going to be audited Read More

If you’re one of the many people who haven’t been filing their taxes with the IRS, you might be nervous about what will happen if (or when) the IRS finally catches up with you. Missing even one year can be problematic, but if you have gone multiple years without filing a return you can be facing serious consequences. The fact is, however, that the longer you put it off the worse it will be. With the help of a good Read More