Tax law often touches on other legal subjects, such as employment law. A Maryland business must be careful to avoid missteps in hiring workers, or state tax authorities could strike.A big issue for employers is how to classify its workers. Many businesses try to keep...
Year: 2016
Obtaining “innocent spouse” relief from joint tax liability
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....
Millenials said to be most nervous about filing taxes
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...
Dealing with a sales tax controversy
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...
4 things on your tax return that can lead to an IRS audit
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...
How a tax lien affects the taxpayer
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...
IRS keeping closer watch of employment tax compliance
As a small business owner, you know firsthand the financial pinch that comes from having to budget for employment taxes. As your focus is on the bottom line of your business, it can be easy to fall behind on these taxes if you are not careful.One of the more serious...
IRS keeping closer watch of employment tax compliance
As a small business owner, you know firsthand the financial pinch that comes from having to pay employment taxes. As your focus is on the bottom line of your business, it can be easy to fall behind on these taxes if you are not careful.One of the more serious mistakes...