POSTS TAGGED : tax filing

5 Types of Tax Fraud Activities You Should Know About In 2021

Tax fraud is a heavily laden term that means much more than an error in judgment. The violation occurs when a person knowingly provides incorrect information on the tax returns.

Tax fraud activities investigation

Strangely, a simple tax problem could spiral out of control and attract hefty penalties, including criminal charges and jail terms. The Internal Revenue Service (IRS) treats all tax issues seriously, and this includes filing a false tax return and accompanying documentation.

Most tax matters can be amended with the help of an experienced tax specialist or attorney with a deep understanding of IRS investigations and tax laws. Here are five types of tax fraud activities that you should be aware of in 2021:

Willfully underreporting taxable income

Different background checks serve varied purposes.…

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Small Business, Big Return: Your Tax Filing Checklist for April 15

Filing taxes for the first time as a small business owner can be one of those unforeseen struggles.

To make sure you have everything you need come tax season, you need to have a tax filing checklist.

Tax filing checklist

We know how difficult and time-consuming it can be to make note of everything during hours of research.

So, instead, you can use our comprehensive tax filing checklist to save you time, money, and hassle on your tax deadline.

Tax Filing Checklist for Small Businesses

Financial Records

Keeping a record of everywhere your money goes during the fiscal year is a hallmark of good business practice and one of the top tax return tips.…

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3 Steps to Take This Year to Avoid Another Tax Season Scramble

Tax season is the enemy of small business owners. Small business owners wear a lot of hats: accounting, marketing, sales – you name it. The small business owner often fills the void in his business.

Doing small business taxes

TurboTax and other online services even allow owners with no accounting experience to file their taxes and take advantage of tax breaks along the way.

But there’s also the anxiety of:

  • Gathering receipts
  • Outlining all expenses
  • Cycling through billings and invoices

Businesses that opt to pay taxes annually and incur the small penalty also worry about having enough money come tax season.

If you’re a freelancer or contractor, chances are you were more focused on staying afloat this past year than worrying about tax season.…

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