Be aware of tax liabilities associated with clearing non-tax debt
As the new year continues to settle in, many Minnesota residents are beginning to think about their state and federal income tax filings. Of course, this means it’s necessary to gather records of income related to work, investments and other financial...Official calls for the creation of a taxpayer’s bill of rights
For many people, the federal tax code is unbearably complex. Navigating the intricacies of annual income tax returns can become an incredible burden.The Internal Revenue Service provides a tax-help hotline, but millions of people never actually get through to a...Conservation organizations worry about losing tax-exempt status
Minnesotans value nature and the outdoors. In order to keep the state’s natural heritage vibrant, conservation groups may buy up pieces of land in order to prevent development. These groups often rely on achieving tax-exempt status in order to continue to...No good deed goes unpunished: IRS disputes Forbes’ tax deductions
Federal tax code is designed to reward charitable giving by allowing exemptions so long as they fall within legal guidelines. Of course, the Internal Revenue Service can scrutinize these deductions in an effort to file tax deficiency claims.Individual members of the...
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