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Category: News - Page 13

Estimated Taxes: How Do They Work?

Posted in News on June 29, 2018

There is a pay-as-you go system in the United States for income taxes. A pay-as-you-go system means that workers are expected to send money in to the Internal Revenue Service (IRS) throughout the year as they earn income, rather than waiting until the end of the year when tax day roles around to pay the entire amount of taxes due.

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More People May Face Criminal Prosecution Thanks to IRS Initiatives

Posted in Hot Topics, News on May 31, 2018

If you have undeclared offshore financial accounts or if you are otherwise not in full compliance with tax laws, it's more important than ever you talk with a Maryland criminal tax lawyer about options you have for taking proactive action to reduce possible penalties that you could face.

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Know Your Tax Filing Status

Posted in News on April 30, 2018

When you file your federal income taxes, you are going  to have to choose how you want to file your return. A Maryland tax attorney can help. There are different filing statuses you can choose from and there are major implications associated with selecting a filing status so make sure you get the right legal advice. Read More

What Happens if You Can't Afford to Pay the Taxes You Owe?

Posted in News on March 30, 2018

April 17, 2018 is the tax deadline for filing for your 2017 taxes. While many taxpayers are excited about getting a refund on tax day, not everyone gets money back from the government. While you are supposed to pay your taxes as you earn income, there are some circumstances where you may end up falling short of this goal, especially if you underestimate what you're supposed to be paying. Read More

Hobby Income: The IRS Says You Must Declare It

Posted in News on February 28, 2018

Many people enjoy hobbies and sometimes those hobbies will actually end up earning them a little money. If your hobby does turn a profit, you likely will need to declare the income with the IRS. If you fail to declare the money that you made from your hobby and the IRS discovers you had earnings you didn't pay income tax on, you could find yourself facing legal trouble. A Maryland tax attorney can help you to understand the rules for declaring hobby income, deducting expenses from a hobby, and determining when your hobby becomes a business and why it matters.

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