Working as an independent contractor could afford someone with many freedoms. Having the final say on a weekly schedule and no limits on earning potential bring forth potential upsides, but tax issues also arise. Self-employed persons, including independent...
No matter how careful you are on your taxes, mistakes are bound to happen sometimes. For those with a spouse or ex-spouse, there's an even higher potential for reporting errors, which often bear serious financial consequences. Innocent spouse relief is a way of...
One of the primary options that Texas employers have in hiring workers is whether or not to make them company employees. Many companies contract with workers who effectively work for themselves in most respects. This is very common in the contemporary gig economy....
Payroll taxes provide funds that are used to fund federal programs like Medicare and Social Security, and they are deducted from workers’ paychecks and paid to the Internal Revenue Service. They are often referred to as trust fund taxes because employers hold the...
Every year, tens of millions of taxpayers submit their returns to the Internal Revenue Service. Whether relying on an electronic submission or the traditional process of mailing a return, taxpayers may feel a hint of nervousness. No one wants an audit letter sent to...
Being charged with the duty of preparing payroll for a Texas business entity is an important task that should not be taken lightly. Most companies have a designated payroll clerk who will calculate wages and employment tax deductions, including Social Security and...
Getting into debt with the Internal Revenue Service potentially comes with numerous stressful problems. Attempts to budget a way to pay down the taxes owed could become incredibly challenging for financially struggling Texas residents. Thankfully, lawmakers long ago...
Millions of people find themselves owing money to the Internal Revenue Service. Thankfully, the tax code provides ways for taxpayers to address their debt. One process involves filing an offer in compromise, which is a type of settlement agreement. Things don't always...
Being audited by the IRS can feel overwhelming, especially if you have never worked with the IRS in the past. If you are fearful of being audited personally or you worry about your business in the Fort Worth area, there are a few tips to minimize the risk of being...
Many people have debts but are able to make payment arrangements with their creditors. If not, the courts have to intervene and order a levy or wage garnishment. If this court order is causing you financial hardship, you may be eligible to request a release in Texas....
