Tax myths are a lot like a bad date. They are annoying and seem to last forever. Yet people have beliefs about income taxes that have no basis in reality. Were it not for the potential financial costs, some of these might be amusing. But if you believe them and act upon them, they can …
55 people have been indicted with connections to a large tax fraud scheme which involves hundreds of falsified income tax returns that sought over $250 million in refunds. This scheme has been deemed “Operation Stolen Treasures” and while it is not a big blockbuster movie starring Nicholas Cage it is a criminal investigation revolving around …
Alma “Dear Steve, I am presently in bankruptcy and i only have 11 months to go, but now I find that they did not get my tax refund what will happen I have already done 5 years. What will happen if I have not missed any payments? It is payroll deducted. Alma” Dear Alma, Huh? …
“Dear Jim, My mother-in-law moved from Puerto Rico to the US and the only income she has is from a pension that she receives from a lifetime of teaching in PR. Even though she lives in the US, does she need to file a US tax return if she does not receive any US income? …
“Dear Jim, I am in my late 70’s and I have gotten neglectful and ill the last five years and did not file a return. I know I do not owe money since I usually owe them nothing(it is taken out) or very very little for many years. I am retired and live on about …