When two people fall in love, old clichés would suggest that they have been struck by Cupid's arrow. Conversely, it seems as though the Internal Revenue Service may be drawing back its bow and taking aim at newly divorced couples.
Federal tax debt: Now with more penalties?
Few people want to go through the experience of being notified of delinquent taxes by the Internal Revenue Service. Many of those who wind up in this situation might also be dealing with other financial issues, so tax debt would only add to existing anxieties.
Time limits for tax audits, collections aren't always concrete
Many readers may have heard that they should keep paperwork from tax returns for three years. This rule of thumb is based on the idea that the Internal Revenue Service has three years to initiate a tax audit. Once this benchmark is reached, people might feel a sense of relief.
Tax marks the spot! IRS officials lay claims on found treasure
Everybody has probably hears stories about people who make a seemingly low-valued purchase at a garage sale and then discover a large cash reserve concealed within the item. While these examples of finding treasure might amount to little more than urban legends, one thing is certain: Found treasures can be considered taxable windfalls by the Internal Revenue Service.
Tax-exempt status on the line in May 15 non-profit deadline
For many people, April 15 sticks out as the most important tax-related deadline. However, those who manage a non-profit organization might have another critical date in mind: May 15.
