Life can be full of twists and turns. Keeping this in mind, a person's financial fortunes can change almost overnight. A medical emergency could create a significant amount of debt, leaving an individual wondering what to do next. In this situation, it's not hard to understand why people may suddenly be unable to pay their bills, including those for the Internal Revenue Service.
What is the statute of limitations for tax audits?
Becoming the subject of an audit is nerve-wracking for any individual or business -- no matter the circumstances. Although many of these tax questions can be resolved through correspondence with the Internal Revenue Service, there is always the possibility that an in-person audit will take place. Knowing this, many readers might be wondering how far back the tax officials can go when conducting an audit.
Shutdown won't delay IRS tax extension deadline
As news of the federal government shutdown continues to fill the news cycles, many people in Minnesota are probably wondering exactly how this affects them. Federal agencies across the board have been impacted by the shutdown, so the Internal Revenue Service has been stripped down to a fraction of its operating capacity. As such, for those who will be filing taxes based on the Oct. 15 extension deadline might not know what is expected from them.
Minnesota property taxes likely to drop, disputes still possible
In recent years, local governments throughout the country have been eager to collect revenue in any way possible. As such, property tax rates have climbed in many areas. At the same time, many property owners may have felt as though their homes were overvalued, which would have helped the government collect more property tax revenue.
