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April 2016 Archives

Understanding the difference between independent contractors and employees - II

In a post last week, our blog began discussing how many people no longer make their money in traditional 9-5 settings, but rather through the so-called gig economy, meaning they often hold different jobs for different durations in different fields.

Understanding the difference between independent contractors and employees

In a post last week, we discussed how a recent survey found that 80 percent of millennials were fearful of making some type of error on their tax return, and how experts attributed much of this trepidation to the fact that many in this age demographic earn a living via a series of jobs, which, in turn, necessitates sophisticated tax planning.

Will 2016 see a record low for IRS audits?

With the deadline for filing federal tax returns now mere hours away, the focus regarding taxes is largely free to shift to other concerns. Indeed, in the weeks and months ahead, many taxpayers -- who may or may not have taken certain liberties with their returns -- may fear receiving a letter from the Internal Revenue Service indicating that they are going to be audited.

Which age group is most apprehensive about their taxes?

As a service to our readers, our blog has been maintaining a sort of informal countdown to Tax Day 2016, the deadline for filing tax returns with the IRS, over the last several months. In keeping with these efforts, it's important to note that we are now less than one week away from Monday, April 18, meaning there's only days left to get your affairs in order.

Understanding the IRS' obligations under the Taxpayer Bill of Rights - III

Now that April 18 -- the deadline for filing with the IRS -- is less than two weeks away, those who have yet to prepare their returns should seriously consider sitting down to crunch their 2015 numbers sooner than later. Indeed, the reality is that the more rushed a person is to complete their tax return, the greater the likelihood that they'll make some sort of mistake and raise red flags at the agency.

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