Many married taxpayers opt to file jointly because of the many benefits this filing status offers them. However, filing jointly also makes both spouses jointly and severally liable for any tax, interest and penalties. This is true even after the spouses divorce....
Filing your income taxes can be daunting, especially if you have never done it yourself before. What if you make a mistake? Will the IRS come to your door a year or two down the line, demanding payment?It appears that some young and financially inexperienced people...
Income taxes are not the only form of tax that Maryland businesses owe the government. They must also pay sales tax, and if tax authorities accuse your business of under-reporting sales tax, it could mean a great deal of trouble. Few businesses deliberately...
The good news is, the IRS audits very few taxpayers. Due in part to budget cuts, fewer than 1 percent of filers have been audited in the past three years, according to the Motley Fool, with just 0.86 percent of returns audited in 2014.The bad news is, there is still a...
If the IRS accuses you of failing to pay a tax debt, the agency may try to put a tax lien on your property. A lien can cause serious trouble, because it severely restricts your ability to use or transfer your assets, such as real estate or a small business, as you see...
