by Levins Tax | Mar 10, 2022 | Uncategorized
A member of the Internal Revenue Service’s (IRS) assistant division and national fraud counsel teams announced her department’s intention to increase their remittance of “John Doe” letters to cryptocurrency companies soon. The IRS has previously sent these letters to...
by Levins Tax | Mar 10, 2022 | Uncategorized
Debts can make anyone feel overwhelmed; however, there are few creditors that most U.S. consumers fear more than the Internal Revenue Service (IRS). There are many ways to find yourself owing $50,000, $100,000 or even $200,000 or more to the IRS. For example, you may...
by Levins Tax | Mar 10, 2022 | Uncategorized
Paying taxes on time can be challenging. For some, there are situations when they are unable to pay them at all. Financial difficulties or emergencies occur in people’s lives, which can result in postponing timely tax payments. Taxpayers are sometimes unprepared for...
by Levins Tax | Mar 7, 2022 | Uncategorized
The IRS has made it mandatory for all U.S. citizens and Green Card holders to file their tax returns annually. You can file your taxes yourself using tax preparation services such as H&R Block or Liberty Tax. In essence, tax preparation services help people with...
by Levins Tax | Mar 6, 2022 | Uncategorized
Corporations are entitled to deductions that will be subtracted from the total gross revenue of the business. The total is the corporation’s taxable net income. For corporations in Massachusetts, some taxes are deductible under the Federal Internal Revenue Code but...
by Levins Tax | Mar 4, 2022 | Uncategorized
If you fall behind on your taxes, you may be subjected to a tax lien from the IRS, which, essentially, is a legal claim on your property. A tax lien, while no longer appearing on credit reports, still appears to creditors. That means a lien could prevent you from...
by Levins Tax | Mar 4, 2022 | Uncategorized
From time to time, when the IRS detects there might be something off about your tax filings, they might perform an audit or a review of your finances and the information provided to ensure you’re following tax laws. During tax season, when attempting to maximize...
by Levins Tax | Feb 28, 2022 | Uncategorized
The vast majority of tax troubles start with errors. If the Internal Revenue Service uncovers information that doesn’t validate claimed credits or deductions, taxpayers can find themselves in a bit of trouble. However, these errors don’t necessarily lead to tax...
by Levins Tax | Feb 15, 2022 | Uncategorized
When a married couple files a joint return, both spouses are considered to be responsible for the entire tax liability. There are circumstances when one spouse may not be an active participant in the family’s finances or be aware of all the information in the tax...
by Levins Tax | Feb 9, 2022 | Uncategorized
Offshore accounts get a bad rep. The truth, however, is that many people choose to bank with foreign entities in order to take advantage of legal protections, potentially lower tax rates and most importantly an increased sense of privacy. Storing your money in an...
