A tax audit is when the IRS wants to ensure that an individual or organization's financial information is in line with what they've reported on their tax forms. If you've been called in for an audit in Pennsylvania, you may be feeling a bit nervous. By making sure...
When Pennsylvania residents owe a large sum to the IRS, it can be a scary time. However, taxpayers should know that it is possible to settle with the IRS for a lower amount in some cases. This settlement is known as an offer in compromise. Such an offer is only...
When you file your taxes at the beginning of each year, the last thing you want to think about is your potential for getting audited. The fact is that the Internal Revenue Service audits very few returns. However, there are certain things that appear on returns as red...
In terms of retirement plans, you may have a 401(k), a traditional IRA or a Roth IRA and you make continuing contributions to save for the time your working career ends. However, those contributions and the associated tax consequences change annually. Do you know how...
Adopting a child is a joyous occasion, but for many families, it ends up being an expensive one as well. Private adoptions are much more expensive than adopting through the foster system, but they are what works the best for many families. If you have adopted a child...
There is a multitude of reasons people might fall behind on taxes with poverty being one of the most common. As a result, Pennsylvania put special guidelines in place in 1974 in order to offer tax forgiveness to citizens for whom paying income tax might prove too...
The good news: In 2020, you have until July 15 to file your tax returns. The bad news: Tax laws have changed again and are as complicated as ever. More good news: Some changes may save you and your family money. More bad news: First, you have to understand them....
Taxes are an inescapable part of life. For most people, filing taxes represents a minor inconvenience on a yearly basis. However, conflicts with the Internal Revenue Service may arise. These may be more likely if you have a complicated financial situation, such as...
Classifying your workers correctly is essential because of taxes. If you choose the wrong classification, it can have serious financial repercussions on your Pennsylvania business. You have two general options: employee or independent contractor. The IRS has specific...
So much of the estate planning process in Pittsburgh focuses on the distribution of your individual wealth; little attention is often paid toward potential liabilities that may come with the distribution of your assets (such as taxes). Perhaps this is because you...
