If you owe money to the IRS, they are going to want that money back with interest and penalties. However, there may be a way to reduce your tax bill in Texas, even if you can't pay it in full. Understanding IRS penalties and interests The IRS charges penalties if you:...
With no state taxes in Texas, it is one less thing to worry about when filing taxes. But, you might wonder if you need to file taxes or are exempt from taxes this year. Some people mistakenly do not file taxes. So here are some of the reasons that people do not file...
Employers in Texas are responsible for calculating their own share of taxes, deducting the correct amount of taxes from their employees' wages, depositing the payments and filing returns with the federal, state and local government entities. When some of the taxes go...
In a typical year, Texas residents must file their personal income tax returns by April 15. The consequences for failing to comply with the deadline depend on whether you are owed a refund or owe the government money. However, there may be benefits to filing your tax...
Our client was a well-known streamer on the Twitch platform. The IRS issued a Notice of Deficiency against her for 2017 claiming she owed $16,524 in unpaid taxes, plus an accuracy penalty of $4,443, for underreported income. The IRS believed that our client had failed...
The term "back taxes" refers to tax payments that were due to the government but went unpaid. If their tax payments are not kept current, taxpayers in Texas could be liable for back taxes at the local, state or federal level. The consequences of letting back taxes...
If a recent 9th Circuit decision stands, any doubts in Texas about whether or not the IRS can force a person's hand to disclose their financial information with foreign governments have been put to rest. This decision reaffirms the IRS's power to seek out information...
Our client owned two successful companies that provided jobs for many and a steady income for our client and his family. He came to our office after being contacted by a local IRS Revenue Officer attempting to collect past due penalties - in excess of $627,000 - for...
Owing over $250,000 to the IRS can be daunting, but at David Coffin PLLC, our attorneys strive for the best resolution possible for each client. We take a team approach with our clients, who often are struggling to make ends meet. Recently, one of our clients was...
