What should I know about tax court?

The IRS notifying you that you owe substantial back taxes is a situation most people never want to experience. However, if it happens to you, you may believe the IRS is incorrect and that you do not owe the amount they are claiming. If so, you may dispute the claim of...

Am I in danger of an IRS audit?

Every year, those who earned an income must file a report with the Internal Revenue Service. After submitting, most people forget about their taxes immediately. And that is fine since the IRS reports that it only examined 0.5% of returns in 2018. But that means an...

4 things to remember about the IRS

If you are going through a personal tax audit, then you may be concerned about what the IRS will find. The Interval Revenue Service is not trying to dig deep to prove that you’ve done anything wrong. Audits are a normal part of life. In fact, most audits go well...

How can you reduce tax penalties?

If you receive an unfavorable decision letter from the IRS stating you owe tax penalties on your Colorado state or federal return, you may be panicking. However, there are things that may reduce the penalty. One option is to negotiate with the IRS examination agent,...