Baker Law Firm, P.C.
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February 2016 Archives

Do you plan to file for a tax filing extension?

This year, the normal April 15 tax deadline falls on Washington D.C.'s Emancipation Day which means that taxpayers have a few extra days to file and pay their taxes by the April 18 deadline. For many taxpayers, three extra days won't be a sufficient amount of time to get their financial affairs in order. Luckily, these individuals can take advantage of the Internal Revenue Service's tax extension program.

IRS has a new way to notify business owners of delinquent employment taxes

For business owners, understanding and navigating the numerous tax rules and regulations can be challenging. This is often particularly true when it comes to employment taxes. Legally, employers must deduct certain taxes from their employees’ paychecks including those that go towards funding Social Security and Medicare. In an effort to ensure that these government programs remain viable, employment taxes must be deposited on either a monthly or semi-weekly basis and again accounted for at the end of the tax year.

Types of IRS audits

In our last blog, we discussed some of the red flags that may trigger a tax audit. While most Americans would likely admit that they fear being audited, many aren’t familiar with the actual process.

Why you may be targeted for an IRS audit

As Connecticut residents continue to roll through tax season and prepare to file both individual and, if applicable, business-related tax documents; some may have this dreaded five-letter word on their minds—audit. Obviously, not one wants or plans to be audited and there are numerous tips, some of which are likely true, about how to avoid being selected for an audit.

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