There are few things as scary in an Austin resident's life as receiving a letter from the Internal Revenue Service. Even before opening the letter, taxpayers imagine the myriad ways in which their life is about to change because of the news contained in the notice. Whether it is to point out a mistake, impose a penalty or declare an audit, taxpayers may end up spending the next couple of months going back and forth with the IRS without ever really understanding what they need to do.
What is my tax filing status during divorce proceedings?
Austin couples that are newly separated or going through a divorce have enough on their plate without having to worry about how their new marital status will affect their taxes. Navigating these new waters can be tricky, as many have most likely not had to consider these issues previously. It can be complicated from the onset, as couples try to figure out whether they are married.
Know your rights as a taxpayer
Even though tax season has come and gone, many Texas residents may feel like it never really passes. All year, they are either preparing for filing their next tax return or responding to errors they made in their last one. However, what many do not know is that, as taxpayers, they have certain rights.
How to prepare for a tax audit
No matter who you are, the IRS has the legal right to select your tax return for an audit. As scary as it may be, just because you're faced with a tax audit doesn't necessarily mean you'll owe additional money.
