Your IRS Questions Answered Here…
Question: I own a small business and in order to keep afloat, I did not send the IRS my employee’s withholding (941) taxes for a few years. How much trouble am I in? Answer: Owing 941 payroll taxes is very different from owing personal income taxes. Not only can the IRS padlock the doors to […]
Tax Joke of the Month
A taxpayer received a strongly worded “second notice†that his taxes were overdue. Hastening to the collector’s office, he paid his bill, saying apologetically that he had overlooked the first notice. “Ohâ€, confided the collector with a smile, “we don’t send out first notices. We have found that the second notices are more effective.â€
Top Four Frivolous Reasons for Not Paying Taxes
Filing taxes is voluntary, and I don’t care to volunteer These people think because they see the word “voluntary†in the instructions for form 1040 they are allowed to decide to pay or not. But in this case, “voluntary†means you can figure your own taxes, rather than having the government figure it for you. […]