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March 2018 Archives

When is it necessary to file Form 8938?

Obtaining and maintaining significant assets overseas is often and excellent component of any portfolio, but is not without its own set of complications and potential headaches. This is especially true when it comes time to file income taxes.

3 approaches to resolving tax debts

Tax season does not always result in federal tax refunds for people in Maryland. A variety of reasons could cause someone to owe taxes at the end of the year and face challenges in coming up with the money for the Internal Revenue Service. According to the IRS, tax penalties hit roughly 10 million people every year. A tax bill cannot be ignored, but people sometimes have options for gaining more time to pay or negotiate a settlement.

Causes of IRS audits

The probability that Maryland residents will be audited by the Internal Revenue Service is pretty low. In fact, less than 1 percent of all tax returns will be selected for an audit. However, there are certain types of entries on a return that may compel the IRS to pay closer attention.

Contact the Tax Lawyers at Kundra & Associates

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