tax liability – The Burns Firm – Advisors of Complex Financial Matters

What Happens If An Individual Can’t Pay Taxes

September 1st, 2020|Categories: Accounting, Burns Firm, Tax, Tax Planning, Tax Preparation, Tax Return|Tags: CPA Dallas, hardship extension for payment of tax liability, penalties for late payment of tax liability, tax due, tax due on tax return, tax liability, tax liability interest, tax penalties, Tax planning, tax return preparation, The Burns Firm, unable to pay tax, what happens if i can't pay irs bill|

While you probably don’t have any problems paying your tax bills, you may wonder: What happens in the event you (or someone you know) can’t pay taxes on time? Here’s [...]

You May Have To Pay Tax on Social Security Benefits

July 23rd, 2019|Categories: Accounting, Burns Firm, Services, Tax, Tax Credits, Tax Deductions, Tax Planning, Tax Preparation, Tax Return|Tags: CPA, Dallas CPA, do you pay tax on social security benefits, how much can I earn if I collect social security benefits, paying tax on social security benefits, social security benefits, social security tax, tax, tax liability, Tax planning, tax preparation, The Burns Firm|

During your working days, you pay Social Security tax in the form of withholding from your salary or self-employment tax. And when you start receiving Social Security benefits, you may [...]

What Taxpayers Should Know If They Get a Notice from the IRS

July 18th, 2019|Categories: Accounting, Burns Firm, Tax, Tax Return, TCJA|Tags: CPA Dallas, IRS notices, tax, tax due, tax liability, tax notices, taxpayer IRS notice, taxpayer received IRS notice, The Burns Firm, What to do if you receive IRS notice|

Info courtesy of irs.gov Certain taxpayers might get a letter from the IRS this year. It’s called an IRS Notice CP2000. It gives detailed information about issues the IRS identified. [...]