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...
Tax Law
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...
Settlement companies not always best at addressing tax debt
Needing help with outstanding taxes is not something to be ashamed of. Many people in Colorado and elsewhere end up in difficult financial spots now and then, and in some cases, they may not be able to pay what they owe to the IRS. Fortunately, being in this...
Avoiding mistakes on tax returns vital as tax season approaches
To the dread of many Colorado residents and those across the country, tax season is just around the corner. Though many taxpayers do their best to make their tax payments, file their tax returns and abide by the ever-changing tax laws, it is easy to wind up in the...
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...
Can you use a monthly payment plan for tax debt?
Having any kind of debt can weigh heavily on a person. If Colorado residents have tax debt, they may feel even more burdened and worried that the government will take action against them. Unpaid taxes can result in penalties, fees and interest, but qualifying...
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...
What happens if you don’t pay your federal taxes in full?
There is a common saying that there are only two certain things in life, and those two things are death and taxes. However, while people often discuss the inevitability of taxes, quite a few people will take extreme measures to try to avoid paying them. Tax...
IRS asked to move tax date due to COVID-19
As spring arrives each year, a lot of focus is given on the looming April 15 income tax filing deadline. For Colorado residents, both state and federal income tax returns must be filed, or an extension must be requested. However, in 2020 the situation may end up being...
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...