Insights

Ignoring tax debt can have significant repercussions that extend beyond immediate financial burdens. At Common Law PC, we recognize that both individuals and businesses can face serious consequences for failing to address tax obligations.

The COVID-19 pandemic brought unprecedented challenges to businesses and individuals alike. In response, various tax incentives emerged to provide financial relief. In Utah, these incentives aimed to support economic stability during a turbulent time.

When dealing with tax issues, many individuals are concerned about how their spouse’s or ex-spouse’s actions might impact their own tax liability. One key provision in the U.S. tax code that addresses this concern is Innocent Spouse Relief. This relief is specifically designed to protect individuals from being held liable for taxes resulting from their spouse’s or former spouse’s actions.

If you’re running a business in Utah, understanding tax obligations is crucial. One aspect that often goes unnoticed until it's too late is the Responsible Person Penalty. This penalty can catch you off guard and cause significant financial strain.

Starting a new business is an exciting venture filled with endless possibilities. However, as any seasoned entrepreneur can attest, the excitement often comes with a fair share of challenges—one of the most critical being understanding tax obligations.

Falling behind on your taxes is not uncommon, but it can lead to serious legal consequences. Most people tend to stress out over any issue with the IRS, and understandably so.

We get it. Life happens, and sometimes, things like filing taxes can fall by the wayside. It's not an uncommon scenario, but if you find yourself in a position where you haven't filed your taxes for a decade, it's crucial to understand what this means and how you can rectify the situation.

Dealing with tax collection issues can be extremely stressful. It's not something to ignore or push aside, but it's also probably something you'd rather not think about. We understand, but the IRS will be a little less forgiving.

Paying income taxes is an expected obligation for every individual living and working in the United States. However, some taxpayers fail to report certain income, underreport their taxes, report excessive expenses, or make math errors in their taxes.

Probably the scariest piece of mail you can receive is one that has the return address of the Internal Revenue Service (IRS). While some of these letters may be informational only, most likely a letter from the IRS will require some kind of response, perhaps even a payment or a payment arrangement.