by Wiggam & Geer | Dec 31, 2020
It might only be January, but it’s never too early to prepare for tax season. While the deadline for filing 2020 returns isn’t until April 15, 2021, you should start gathering documents and other information now. Both individuals and businesses have the opportunity to...
by Wiggam & Geer | Nov 30, 2020
What Happens When the IRS Suspects Criminal Tax Fraud? When you hear the word “criminal” combined with the words “tax fraud,” you might think of Al Capone, the 1930s gangster who was finally jailed when he pled guilty to tax evasion. But criminal tax fraud isn’t...
by Wiggam & Geer | Nov 30, 2020
What Should I Do If I Missed the Extended Tax Deadline? If you waited until this fall to deal with your taxes and missed the October 15 extended filing deadline, don’t wait any longer to send in a return. Unless you are due a refund, the IRS will assess fines for not...
by Wiggam & Geer | Oct 30, 2020
Trust Fund Recovery Penalties: What are they? When a business is struggling with its cash flow, an owner, director, or even a payroll employee may be tempted to briefly dip into the trust fund taxes already collected and withheld from staff. But the IRS has a strong...
by Wiggam & Geer | Oct 30, 2020
To Avoid Fines and Possible Disbarment, Attorneys Should File Tax Returns Even When They Cannot Pay What happens if an individual, specifically an attorney, cannot pay their annual income taxes? The IRS advises not to panic and to still file a return without payment....
by Wiggam & Geer | Sep 29, 2020
Missed Estimates Can Lead to Steep Penalties, Particularly for Attorneys Attorneys, particularly sole practitioners who tend to have uneven monthly income as well as partners and firm owners who receive draws instead of or above regular salaries, often must pay...
