Sacramento Tax Attorney Found 5 Great Tax Refund Uses

Waiting on your tax refund to come in gives you time to think about how you would like to spend your exciting boost of money. While not all taxpayers receive a federal tax income, the Internal Revenue Service says that almost 80% of taxpayers get one. And on average they are $2,800! So if you are curious on what are the best ways to use your tax refund, here are a few ways that Sacramento tax attorney suggest doing.

Make Your safety net

Saving your money is a good way to make sure you have an emergency fund in case something financially devastating was to happen. Maybe you lose your job, have to pay for a medical expense that your insurance doesn’t cover all the way, or something else could make an emergency fund rather useful. Tax attorney in Sacramento, Tax Tiger, says just take a second to think about your emergency fund before spending the money impulsively.


Expats May Lose Passports Says Sacramento Tax Attorney

Starting January 1, 2016, there may be a situation that involves U.S. expatriates to get their passports taken away from them. The advocacy group, American Citizens Abroad, is urging congress to not do this because of the disastrous consequences it may cause all due to the highway funding bill. While this hasn’t gone into affect yet, if you are an immigrant, it might be in your best interest to contact a tax attorney in Sacramento to assess your situation.

Still figuring it out

Both the house and the senate have yet to come to terms on an agreement for the highway funding bill, but both agree on the federal government having the ability to not provide and/or take away a passport away of an immigrant residing in the United States if they owe $50,000 in federal taxes.

Tax Attorney in Sacramento Can Help Prevent Tax Evasion

With the current economic status of our country, it is more important than ever for business owners and property owners to stay alert and informed when it comes to taxes. Tax evasion is a serious accusation, and a tax attorney in Sacramento can help you if this issue comes up. Whether tax evasion is truly an issue or a just a simple mistake somewhere along the line, it is important to have proper assistance and proper representation if you find yourself in a tricky situation.

Failure to File TaxesCorporate Crime

Tax evasion can be boiled down to one thing: failing to file a tax form. This is a form of tax fraud, and there are some pretty hefty penalties that can come with this crime.

Involved in Tax Fraud? Get in touch with a Sacramento tax attorney!

In the Sacramento suburb of Rocklin, CA it seems that there has been a bit of a spike in identity theft, especially in the realm of tax fraud. Four different Rocklin families, within a three-mile radius of one another had their identities stolen and their tax returns filed, without their knowledge. One of the families went to file their taxes only to find that they’d already be filed. What a surprise!

Knowing a few different ways to keep your personal out of reach of fraudsters could save you a ton of money and hassle in the long run. Here are a few things to consider to keep yourself safe from scammers.

A Sacramento tax attorney will get you organized for the tax season.

The power of organization is immense. Being regarded as organized will open more doors than you know. There are a lot of people out there that have special skills and incredible talents, but they lack organization. Organization is the conduit that allows people to successfully manifest their skills and talents. Not being organized will do the exact opposite. That’s why it’s important to make steps in the right direction towards become better organized. It will take a lot of work, but it will be worth it in the long run.

No Need For a Tax Lawyer in Sacramento, Know the 2015 Tax Law Changes on Your Own

Tax season has ended, but that doesn’t mean that staying up to date on tax law changes is a bad idea. Educating yourself year round about current changes can be the differences between paying a big check and receiving a big check at the end of the year. Many choose to hire a tax lawyer in Sacramento or other local area in order to help them with their tax questions; however staying informed on your own is the best way to really keep a good head about tax laws. Now all changes will affect you, but it’s still a good idea to be on the ball when it comes to new tax information. Here are a few changes to look out for.

Unemployment Benefits

Unemployment benefits are a taxable income. While unemployment provides a good stepping-stone from one job to another, the IRS taxes the money you received from this.

Sacramento Tax Attorneys Understand Bankruptcy and Tax Debt

Many people are confused about the specific debts that bankruptcy relieves. If a Sacramento tax attorney is required, it’s important to understand bankruptcy as it applies to tax debt relief. There are several ways to file bankruptcy, and in most cases filing will not relieve tax debt. However, there is information that should be known. In some cases, a bankruptcy can relieve your tax debt, but often not in full, and generally they still might be able to collect at a later date. TheBankruptcySite.Org explains:

The moment you file a consumer bankruptcy, a mechanism called the “automatic stay,” or auto-stay, stalls most legal proceedings and prohibits your creditors from continuing collection efforts. This means creditors can’t sue, garnish, bill, or call you, or otherwise attempt to collect a debt you owe. The auto-stay applies to the IRS as well.