Tax Law

What options could help address tax debt?

Debt in any form can quickly go from a slight hindrance to a serious problem. If Colorado residents have tax debt, they may feel even more pressure from their outstanding liabilities because they worry that the IRS will take action against them. Unfortunately, that...

Should you worry about facing a tax audit?

Just the word “taxes” is enough to make nearly any Colorado resident groan. When it comes to a tax audit, that groan could turn into headbanging frustration as the individual tries to determine why the IRS is taking another look at his or her tax returns and what can...

Common reasons for tax penalties

Taxes -- you can’t escape them. They are and will always be there, like it or not. Some years, you’ll find you have no issue with your tax filing, and others, you will have problems arise that result in you having to pay penalties. There are various reasons the...

Offer in compromise may offer some tax relief

With the tax season well underway, many Colorado residents may still be feeling the pressure of trying to get their documents in order to file. While the process itself can certainly seem overwhelming, some individuals may have even more concerns because they are...

Some audit red flags are unavoidable

No Colorado resident wants to spend more time dealing with the Internal Revenue Service than absolutely necessary. This time of year, most taxpayers are trying to get their information in order so that they can file their returns and get their refund or pay what they...

Never ignore an audit notice from the IRS

Getting any type of unexpected correspondence from the Internal Revenue Service can make any Colorado resident feel nervous. If a person opens a letter and finds an audit notice, a pit may quickly form in his or her stomach. However, this process does not have to seem...