For many Minnesotans, tax season is a stressful time of year. Between professional, family and personal responsibilities, it may be difficult to find the time to deal with problems that arise when completing state and federal income tax returns. In order to resolve lingering concerns or questions, a person might need clarity from tax officials.continue reading…
Independent contractors could create tax issues for employers
Businesses rely on a wide variety of strategies to meet their needs. In order to fulfill a demand for labor, independent contractors might be hired. Depending on the situation, it may be most intelligent to bring contractors aboard, perhaps if additional staffing isn’t likely to be needed in the longer term. Independent contractors are differentcontinue reading…
Divorce-related issues could spark a tax audit
Divorce can be a very difficult process for couples to complete, so imagine the stress and anxiety that a tax audit would add to the situation. The unfortunate reality, however, is that certain aspects of divorce could pique the interest of the Internal Revenue Service, particularly if a couple is splitting a large amount ofcontinue reading…
Tax liens can have damaging effect on credit scores
When the Internal Revenue Service believes that an individual failed to meet his or her full tax burden, the agency may do whatever it takes to recover funds. As such, the IRS may attach a lien to personal property, which means that they can claim it if a person fails to pay up. Right offcontinue reading…
McDonald’s hopes to avoid being French fried after tax audit
When a company is growing into international markets, it’s a sign of success. At the same time, however, businesses must work within a patchwork of laws when expanding business operations into a new country. Of course, this also means companies must take steps to adapt to differences in tax liabilities between nations. McDonald’s was just the mostcontinue reading…