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STRATEGIC TAX LAWYERS:  TAX BLOG

How to Prepare for an IRS Audit

Tuesday, October 11, 2011

The odds are that you may never be chosen for an IRS audit. If you are amongst the few lucky ones chosen, being prepared for the IRS audit will make the process go that much easier. If you have filed your taxes every year and all deductions that you have applied are legitimate the IRS audit should be a non-event. On the other hand, if you have not filed your taxes regularly or have added a few items to your return that are questionable you must be prepared to explain the discrepancies. This is where hiring a tax attorney can be extremely beneficial.

As was stated above, being prepared is the most important thing you can do as a tax payer. Here is a list of some items you will be expected by the IRS to provide at the IRS audit.

Tax returns- Depending on years in question you should have at least the last three years available for review. This will include any and all extra forms sent along with your filed returns, along with all W-2s. If you have filed a joint return you will need both parties W-2s. During the IRS audit, your taxes will be reviewed by the IRS agent.

Social Security numbers- Have all social security numbers available; a copy or original social security card would be preferred. You should have the social security card of all dependents listed on your returns. This will ensure that the IRS audit goes a little smoother.

Receipts-If you filed a long form and included extras that you paid for you must provide the receipts for all expenses paid. This will include all deductions you have taken such as student loans, charities, clothing expense for your job and excessive medical bills. Receipts are a must when attending an IRS audit.

Bank statements from all accounts bearing your name- This will include any checking, savings or other interest bearing accounts. The IRS will use this to determine any income that may not have been reported and also in determining your ability to pay any taxes should they be due at the time of the IRS audit.

Remember that you do have rights as a tax payer to a fair IRS audit. By having everything required at their disposal, you will get through the process quickly. If you do not have all items listed above now would be a good time to acquire them. If some of the items you deducted were exaggerated to get the deduction you may want to bring along representation to speak on your behalf. As a tax payer you do have the right to bring a person accepted by the IRS such as an accountant or Tax Attorney. Through a Power of Attorney they can work through the audit with you and offer guidance and expertise. If the IRS audit finds that you do owe back taxes having a third party there will help to bring a resolution to the audit without the fear of further consequences.

IRS Resources – IRS Audit 

The IRS Audit FAQ page is a good place to start for official resources.  If you need to know what laws might be in your state, head to Google  and search with keyword your state and IRS Audit.  MSN Money has a list of 6 audit red flags you need to know.



Settling Tax Debt with the Help of a Los Angeles Tax Attorney

Monday, October 10, 2011

Owing taxes to the IRS can make anyone nervous. If you have received a letter from the IRS demanding payment on back taxes, do not panic as there are a few ways to settle your debt. One of your first steps should be to acquire the services of a Los Angeles tax attorney. A Los Angeles tax attorney can help you with virtually any tax problem that you encounter, including owing back taxes. In most cases so long as you make the effort to repay the taxes owed the IRS will work with you and your Los Angeles tax attorney will be there to ensure that the negotiations of your tax debt goes smoothly.

Why Do I Owe Back Taxes?

There are many things that may have caused you to owe taxes. Taking too many deductions is a common way most people end up owing additional taxes at the end of the year. A Los Angeles tax attorney can advise you on ways to effectively take the deductions without taking too many and landing in hot water with the IRS. Another way is to report income that was earned that had no income taxes collected, such as a pension that you may have cashed in early, or lottery ticket winnings. If you find that you do owe when you do your taxes the best way to avoid future penalties is to file on time and then wait for the IRS to send you a letter of the taxes owed. Your Los Angeles tax attorney can help you with calculating taxes owed if you want to know the owed tax amount right away. Consulting with a Los Angeles tax attorney is also beneficial when you have the income to report so you can work with him and find the best solution.

What are my Repayment Options?

Once you have received a letter from the IRS stating the amount owed you have several options for repayment. One would be to pay it in full, if you are able to pay. By paying the tax now you will avoid future interest. If paying the balance in full is not an option, then the IRS has a few repayment plans that may help. Use the help of your Los Angeles tax attorney to determine the best option for you.

The first option is a short term plan that offers you the chance to repay the back tax within a few months. The benefit of this is the sooner the tax is repaid, the less in interest you will accrue. Of course if you need longer, the IRS will accept an installment agreement so long as all prior years of returns have been filed. If they have not been filed, you will want to consult with your Los Angeles tax attorney to square away this issue. The payments are monthly and generally are worked from one year to three. There is interest added daily until the balance is repaid, but the IRS will not bother you so long as you pay the bill each month. If you struggle with your repayment terms, contact your Los Angeles tax attorney to evaluate your options.

If you fall into the category of having missed filing your taxes for several years, you may want to consult with a Los Angeles tax attorney specializing in tax laws to offer you the best chance for settling the debt. If the debt is old you may be able to settle for less than the amount owed. You will need to file all outstanding tax returns before attempting to settle, but once that is done, the Los Angeles tax attorney should be able to at the very least set up a repayment arrangement suitable for all involved.

IRS Links

Head to the IRS.gov website to find out more tax-related information.  You can also contact the IRS here.  Business and individual IRS forms and publications are located in a single library; and the Department of Labor can offer employment tax information.  Looking for local state laws?   Make a visit to Google.



How a Chicago Tax Attorney Can Help You Start a Business

Monday, October 10, 2011

So you are starting a company and entering the entrepreneur market. As exciting as this may be there are some things you need to have set up prior to your first hire and hanging that open for business sign. The tax laws today are ever changing so unless you have a degree in accounting you will probably need to hire a Chicago tax attorney or at the very least consult with one prior to opening your doors. A Chicago tax attorney can prove to be a valuable asset as he will know what requirements you need to fulfill prior to starting your company.

Since you are just starting out having an on staff tax attorney is probably out of the question so the next best thing is to seek outside assistance from a Chicago tax attorney with excellent references to handle your tax issues as needed. There are probably many items that you have not even thought of and this is best left to the Chicago tax attorney to handle in order to avoid any future visits from the IRS.

Here are some of the services provided by a Chicago Tax Attorney:

  • Determining what type of license is required for your business and handling the necessary paperwork involved. A Chicago tax attorney can also help you establish the type of entity you wish to classify your business as such as a corporation or a sole proprietorship.
  • Payroll Taxes and benefit packages offered to employees - handling the necessary taxes required by the employee as directed from their filing status to include federal withholding, state taxes as well as any contributions towards 401k or other retirement benefits, health insurance and social security; All of these are required and your Chicago tax attorney can help you adhere to the local and federal regulations.
  • Business taxes-filed quarterly including all sales and proper deductions, making sure your taxes are filed correctly;
  • Sales Tax-calculating the amount of sales tax owed to the state;
  • What deductions you are able to take such as automobiles used for business, mortgage on business location, interest, gas expense, etc. This will be based on your filing status and the type of entity you choose to have your Chicago tax attorney help you establish.

What the Chicago Tax Attorney will offer to you is peace of mind knowing that all your tax issues are being addressed. A Chicago tax attorney can handle your tax issues that may come along and offer guidance for future plans and what the best direction may be to follow in order to benefit your business the most. Having someone who has the knowledge of the changing tax laws is crucial when starting a new business. Meeting with you throughout the year to offer what deductions are acceptable and what are not can help you to avoid a tax audit in the future. Since you want to get your business off on the best possible start, choosing the right attorney is crucial.

Helpful IRS References

Visit IRS.gov to learn guidelines related to tax information.  There are multiple ways to contact the IRS.  Look up and download your IRS forms and publications, or visit the Department of Labor for employment tax information.  Google is a handy reference when searching local tax laws.



Seeking Help for Various Tax Situations with a Beverly Hills Tax Attorney

Monday, October 10, 2011

There is not a person amongst us who does not cringe when receiving a certified letter from the IRS. It may be something as simple as forgetting to sign your return or as alarming as notification of a tax audit. Whatever the case may be, receiving a letter is just cause for contacting your Beverly Hills tax attorney for advice on the tax matter. Your Beverly Hills tax attorney is well versed in tax law and can help you resolve even the hairiest situation with the IRS.

Sometimes without even knowing it a person can forget to file additional income or claims too many dependents due to their lack of understanding of the tax laws. These are appropriate times to contact your Beverly Hills tax attorney who can help you get the maximum benefit when filing your taxes. Knowing what you are able to claim and what falls outside the guidelines is important in avoiding correspondence from the IRS. But fear not there are people out there who are trained in the area of tax laws – Beverly Hills Tax Attorneys. Tax attorneys deal with situations from average people every day and are capable in most cases of settling any problem that may arise.

Some of the situations a Beverly Hills Tax Attorney can help with are:

Unreported income- Some examples of this are receiving a settlement due to injury, cashing out a pension early, lottery winnings or any other earned income not reported on this year’s tax return.

Late filing- You did not file your taxes on time and did not apply for an extension. It happens when life gets in the way. Seeking the help of a Beverly Hills tax attorney ensures that you will pay the least amount of penalties on your back taxes.

Back taxes owed from not filing your taxes- If you have not filed your taxes for several years and have now received a notice you will need the guidance of your Beverly Hills tax attorney.

Inability to pay back taxes or current years taxes-You received a notice from the IRS from either back taxes or defaulting on a previous installment agreement. It is a good idea to visit your Beverly Hills tax attorney if you are having problems with your current arrangements to prevent any further action being taken by the IRS.

Bank Levy- the IRS has frozen all of your assets and you only have a short time to respond and are unable to pay. Your Beverly Hills tax attorney can help release the levy by working out an agreement between you and the IRS that suits both parties.

When it comes to issues involving the IRS unless it is something simple and non-threatening it is always best to have someone represent you. A Beverly Hills Tax Attorney with their up to the minute knowledge of the ever changing tax laws can save you a lot of time and wasted effort. By having someone trained to deal with the IRS you can relax and leave the settlement to a professional.  

IRS Resources

IRS.gov is a good place to start if you need government and federal tax related guidance.  Need to contact the IRS?  Check out the library of IRS forms and publications for one to meet your specific need.  The Department of Labor can offer answers related to employment taxes.  Lastly, Google is a good place to head when you need to search local laws pertaining to your state.



Penalties for Late Tax Filing and How a Florida Tax Attorney can Help

Monday, October 10, 2011

When it comes to filing your taxes your first choice should always be to send your tax return in by the due date. Even if you do not have the full balance owed on hand to pay. By sending in as much as you can, your Florida tax attorney will advise you that you can significantly reduce the amount of interest charged on the unpaid balance. Since interest starts from the date immediately following the due date, it is important to send it in on time. Your Florida tax attorney knows that penalties for late filing can add up. Generally the penalty is 5% per month of the balance until the return is filed with the aid of your Florida tax attorney.

If you make no effort to file your past due taxes the IRS can take measures to recover the money. The IRS will then send you a letter showing the tax amount you owe based on their records. Show this letter to your Florida tax attorney to determine what kind of assistance you will need. Remember the IRS will only have your W-2s to go on so chances are you will owe more than if you had filed the taxes yourself. It is important at this time to file your own return even though the IRS has prepared one for you. Your Florida tax attorney will help you with your deductions to reduce the amount of the tax penalty. If you should choose to ignore the letter, the IRS has the right to enforce repayment. At this time the IRS can obtain a levy and freeze all assets bearing your name. Your options at this point are limited to either contacting the IRS yourself or hiring a Florida tax attorney to speak with the IRS on your behalf. The second option is probably going to be more effective than the first since you did not previously respond to the prior notice.

By hiring a Florida Tax Attorney, you are able to authorize the attorney through Power of Attorney, to negotiate with an IRS agent to obtain an attainable arrangement. You will need to make some type of arrangement for repayment in order to release the levy. Since time is of the essence it is important that you retain a Florida Tax Attorney as soon as the levy is placed on your accounts. The Tax Attorney specializes in handling IRS matters and can work for you to release the accounts sooner rather than later. There are several options that can be proposed such as a short term repayment or installment agreement that can range from 12 months to three years. Your Florida tax attorney will work with the IRS to establish a payment plan that works for you and the IRS.

If you still have not responded despite the levy to your accounts, the IRS will take further actions against you and now place a garnish against your wages until all back taxes are satisfied. Only your Florida tax attorney will be able to help you release the garnished wage order.

IRS Resources – Bank Levy 

Need more information from the government and IRS about bank levies?  Check out what the IRS says about a bank levy.  Find out the difference between a bank levy and a federal tax lien.  For more information, read about the bank levy procedure from Wikipedia.  You can also find what your local state has to say about a tax levy by using your state and bank levy as a keyword to search Google.



California Tax Attorney: What Happens When the IRS Seizes your Assets?

Monday, October 10, 2011

If the IRS has seized your assets, you pretty much have allowed this to happen yourself by ignoring all attempts at correspondence. The IRS will first send out several notices to get you attention that you have either defaulted on your payments or not filed your taxes. At the time of receiving a letter, your best option is to contact a California tax attorney to review your options. By choosing to ignore these letters, you have opened yourself up for a levy against your assets. Once the levy has been placed against your assets, time is of the essence and you will need the help of your California tax attorney more than ever. You only have a short period of time to dispute this before the IRS seizes all or part of your assets to satisfy the back taxes. Contacting your California tax attorney will help to ensure that you do not lose your assets.

What Happens after the Levy is in Place?

It is now important to not only act quickly but to obtain the services of a California Tax Attorney who specializes in IRS levies. By having the California Tax Attorney speak on your behalf, the attorney is then able to negotiate with an IRS agent and come up with either a settlement or repayment schedule satisfactory to all parties. The settlement would be your best bet since it is a one time payment and once paid there are no more penalties or interest accrued. If you are unable to pay the full balance owed then you can have your California Tax Attorney arrange an installment agreement with the IRS. The installment agreement can range from one year up to five years if needed. Once this agreement is made the levy will be lifted with the help of your California tax attorney.

Why Obtain the Services of a California Tax Attorney?

What a California tax attorney can do for you is offer you the guarantee that your assets will be released to you and that no further action will be taken as long as the agreement is not broken. If you choose to go it alone without the services of a professional the process may not work out in your best interest. Without the experience of dealing with the IRS on a daily basis you may put yourself at a disadvantage. If you are unable to negotiate effectively with the IRS on your own not only will you lose whatever is in your accounts but you may also be at risk for a garnish of wages if there are still taxes owed. Remember the IRS is going to get their money one way or another so you owe it to yourself and your family to give yourself the best possible chance at achieving an end result that benefits you. Seeking out the help of your California tax attorney can ensure that the worst does not happen to you.

 

IRS Resources – IRS State/Income Tax 

Find out all you need to know as a business regarding IRS State and Income tax, from the IRS.gov site.  The IRS Publication 15 may also be helpful.  Need to know what your state laws might apply to your IRS taxes?  Do a local Google search on your state and the keyword IRS taxes.



Innocent Spouse Relief Help from Strategic Tax Lawyers

Friday, October 7, 2011

Finding yourself in tax debt is bad enough, but finding yourself in debt to the IRS, due to actions that you had no knowing of, and had nothing to do with actions you took, now that is a frustrating situation. Thankfully, Strategic Tax Lawyers can help you navigate the web that is the IRS and obtain what is referred to as "innocent spouse relief". These are exemptions from tax liabilities or discrepancies that not of your doing. An experienced IRS tax attorney can help you get this exemption and rid yourself of this debt that is no fault of your own.

The consequences of filing jointly

There are many benefits of a married couple filing joint taxes. There are tax credits and deductions that can be taken advantage of, and you have the ease of having to file only one set of taxes. However, as with most things, there is a flip side to these benefits. When you file jointly, both you and your spouse are equally responsible for what is reported, as well as paying the correct amount owed. Strategic Tax Lawyers understand that it is common for a half of the couple to handle the taxes, and the other depends on their ability to accurately report their earnings, deductions, etc.

This means that even if one files jointly, and it is found that there has been an underreporting of income, or a failure to pay taxes or fees, you are as responsible for these consequences as your spouse - even if you had no idea that these discrepancies or penalties existed.

Innocent Spouse Relief

The experienced lawyers at Strategic Tax Lawyers can help you navigate the forms and documentation required to obtain an exemption from these debts. There are allowable exemptions when it can be proven that you had now part in, and no knowledge of, the debts that have arisen with the IRS. Experienced IRS tax attorneys will work to get you one of three innocent spouse relief exemptions, depending on your situation.

Original or "Classic" Innocent Spouse Relief

Your attorney at Strategic Tax Lawyers may work to help you obtain the original innocent spouse relief exemption. Your IRS lawyer can help you obtain this relief in the event that errors were made on a tax return in that resulted in a reduced tax liability. It is up to your IRS tax attorney to help you prove that you had no knowledge of these actions being taken.

Relief by Separation of Liability

If you do not qualify for the original innocent spouse relief, Strategic Tax Lawyers may look towards Relief by Separation of Liability. If you are legally separated or divorced, you can might be eligible for this form of relief. If you qualify, the tax liability is split and you are responsible for only a portion of the debt.

Equitable Relief

Strategic Tax Lawyers will work for this form of relief if you do not qualify for the other two forms first. Not only does this form allow you exemptions from liabilities from underreporting of income, it can also help provide relief from responsibility of back tax debt. Your IRS tax attorney will look closely at your specific situation in order to determine which form is right for you.

IRS Resources

For more information, visit the IRS's web page regarding innocent spouse relief. If you feel that you qualify for innocent spouse relief, you can obtain the appropriate forms and learn where to send them on this page as well.



Understanding a Tax Lien with the Help of My Tax Attorney

Friday, October 7, 2011

My Tax Attorney understands that owing back taxes and dealing with the IRS is a scary endeavor. Ignoring these problems, however, can lead to some pretty hefty consequences. When things get too far out of hand, the IRS may move to impose a tax lien on you. This is a very severe penalty that can cause an immense amount of financial hardship. IRS tax attorneys with experience fighting tax liens can help you exert your rights and protect your finances.

What is a tax lien and how does it work?

Tax liens are, for all intents and purposes, freezes placed on your assets. With the help of the highly experienced lawyers at My Tax Attorney, you can fight these liens and protect your assets. Liens are imposed only as a last resort and are typically only applied to those who have a significant amount of back taxes owed. The threshold for imposing a lien is typically between $5,000 and $10,000 in back taxes owed. The lien disables you from the rights you once had on your assets, such as the ability to sell said asset, refinance, or otherwise exert the rights that, as a property holder, you would normally have.

Though it can be stopped with the help of a qualified IRS lawyer on your side, if you fail to take action once the lien is imposed, the IRS can actually sell your assets in order to recoup the debt that is owed to them. If you have been threatened with a tax lien, contact My Tax Attorney today to prevent further potential losses.

The IRS does not impose a tax lien on you overnight though, which gives you plenty of opportunity to get in touch with My Tax Attorney to sort out your options for handling your IRS tax issues. The IRS must keep in contact with you, apprising you of the amount of back taxes owed, as well as any penalties that have been incurred by your failure to pay. If you continue to ignore these letters and refuse to comply, the IRS will send a letter indicated their intent to place a lien on your assets. You have many opportunities during this period to get in touch with an experienced IRS tax attorney who can help you remedy this situation to your favor as much as possible.

What you can do

With the help of an experienced lawyer at My Tax Attorney, you can exercise your rights and fully understand the options available to you. Your IRS lawyer will apprise you to the options you have at your disposal. More often than not, the IRS is willing to work with you or settle as they simply want to collect on the debts owed to them. Enforcement procedures are timely and costly, and will be avoided if possible. At My Tax Attorney, our lawyers can work out a number of different options for you.

Oftentimes, a payment plan can be arranged that is workable to the debtor. This is the best option, as it allows you to repay your debts, but without significant financial hardship placed on you. Your IRS tax attorney may also recommend an Offer in Compromise. This is essentially a settlement offer that you make to the IRS. If the IRS agrees to your offer, you pay the agreed upon amount and the lien is released.

If, however, you feel as though a tax lien is being placed, unjustly, upon you, the lawyers at My Tax Attorney can help you apply for an appeal on the lien as well.

IRS Resources

You can obtain further information about the IRS tax lien policy by visiting their dedicated tax lien page. This page will link you to a number of different resources regarding tax liens, as well as how to appeal, and frequently asked questions.



Common Questions about Estate Taxes Answered by California Tax Lawyers

Friday, October 7, 2011

Many people don’t have the slightest of ideas what estate taxes are or its relevance to them. If you are located in the state of California, you may want to consult California tax lawyers to orient you with the ins and outs of estate taxes in your state. California tax lawyers will be able to answer all your questions about estate taxes, as well as provide you with recommendations that will be advantageous to your situation.

Below are some of the commonly asked questions about estate taxes that California tax lawyers are normally asked about.

  1. What are estate taxes?

Generally speaking, estate taxes are taxes levied on the relocation of your assets to your heirs at your death. However, the value these properties must first go beyond a certain limit before estate taxes are imposed. Your California tax lawyers can help you determine the value of your properties while you are still alive to help you find ways how to incur low estate taxes.

  1. Are all my properties levied with estate taxes? At the time of your death, everything you own will be accounted for and their fair market value will be determined, which will be the basis of your estate taxes.

Properties which may be taxed may include cash, real estate, securities, insurance, trusts, business interests and other assets. For more information regarding which of your properties may be levied with estate taxes, you may consult your California tax lawyers.

  1. Fair market value, what is it? If you are confused regarding what “fair market value” means, your California tax lawyers will explain it in such a way that it is simpler to understand. In lay man’s definition, it means the value of your properties when you and your buyer are not forced to sell or buy, respectively. Your California tax lawyers will be able to help you determine the fair market value of your properties.

  1. What properties are excluded from estate taxes? Knowing which of your properties are excluded from estate taxes is not only important, but can also be a strategic move on your part. Your California tax lawyers can use this information to suggest transactions aimed at lowering your estate taxes so that your heirs can inherit your properties intact. Some properties that may not incur estate taxes include:

  • Properties owned solely by your spouse or children
  • Lifetime gifts
  • Properties given to you but which you have no control of at the time of your death

There are some nuances to these, that’s why seeking the counsel of California tax lawyers will be to your benefit.

  1. What deductions are available to reduce the Estate Tax?

There are also deductions to reduce the amount of estate taxes you owe, and you will learn about these things further by consulting you California tax lawyers. Some of the deductions available are:

  • Marital Deduction
  • Charitable Deduction
  • Expenses of the estate
  • Debt and Mortgages

Your California tax lawyers can further explain which of these deductions are applicable to you to lower the estate taxes you incur.

Knowing what estate taxes are is not only important but also strategic. Consulting California tax lawyers will therefore be for your own benefit. With your California tax lawyers plotting your well-designed estate plan, you will have the security of knowing that when you die your heirs will be able to get what they rightfully deserve.

Resources

To know more about estate taxes, visit the IRS page for estate taxes. You may also visit the California State Controllers page about California estate tax information. Furthermore, the California Tax Service Center website offers information about tax laws in the State of California.



How Chicago Tax Lawyers Help You Avoid Tax Penalties in Chicago

Friday, October 7, 2011

The City of Chicago is one of the biggest cities in all of the United States of America. There are many businesses located in the city, and all are required to pay taxes periodically. However, despite of reminders from city officials, Chicago tax lawyers and even the Internal Revenue Service (IRS), some businesses are still unable to pay their taxes on time.

If you are one of these business owners who pay taxes late, and have not hired any Chicago tax lawyers to help you, then you should consider hiring Chicago tax lawyers to handle all your tax affairs so you can pay taxes on time.

 

Paying taxes on time does not only improve your reputation and standing in the business community, it also helps you avoid penalties and interests related to late filing and payment of taxes. Chicago tax lawyers can explain these penalties and interest in further detail, in ways that will be easy for you to understand.

Tax Penalties and Interests

One of the first questions often asked Chicago tax lawyers regarding taxes is about the circumstances that could cause a taxpayer to be penalized. The answer to this question is very simple. Anytime you pay your taxes late, or any delinquency in your part, you will be fined or penalized, and will be charged with an interest.

One more thing you will know from Chicago tax lawyers is the fact that penalties and interests are not only limited to late payments but also applies to late filing of returns as well.

These are reasons why you should hire the services of Chicago tax lawyers to sort your taxes out.

Calculation of Penalties and Interests

Penalties on late filing and payment of taxes can be substantial, and with the financial crisis we are facing today, these are things we are better without.

  • Late Payment – The penalty for paying your taxes late in the City of Chicago is 5% of the total amount you owe the government. Meaning, if you owe taxes amounting to $10,000, paying late will translate to an additional of $500 as penalty.

Aside from that, Chicago tax lawyers will also inform you that the Department of Revenue also charges interest for late payment of taxes. The interest rate for late payment of taxes is 12% per annum, calculated daily.

  • Late Filing – The penalty for late filing could be 1% of the total tax due or 5% of the payment made with the return, or whichever is higher - your Chicago tax lawyers can explain this to you better. The interest rate in this case is the same as for paying your taxes late.

Chicago tax lawyers will be able to help you avoid these penalties and interest, additional charges that will have considerable impact to your finances.

Paying Taxes on Time

Delinquency in paying taxes will only result in penalties and interests that will add more to the amount you need to pay. It is therefore very important to pay your taxes on time and hiring the services of Chicago tax lawyers will help you achieve this purpose. Chicago tax lawyers have the necessary knowledge and experience to help you properly file tax returns, as well as pay the right amount of taxes on time.

Resources

To know more about how to pay your taxes in the City of Chicago you can visit their Tax portal. You can also view the IRS Tax Calendar to help you file and pay taxes on time. For other information you need, visit the Chicago Department of Revenue web page.