Randolph Law Firm, P.C.

August 2013 Archives

Important for Nevada teens to understand IRS obligations

While many working teenagers do not make enough money in a given year to be concerned about owing taxes, others do fall within a tax bracket. As Nevada residents are keenly aware, it is the responsibility of individuals to ensure their debts to the IRS are paid in full. Teenagers are no exception to the rule, so it is important they understand their obligations regardless whether they are paying into income tax or not.

IRS remiss in sending tax liens notification

A recent report from the federal treasury suggests the nation's Internal Revenue Service has not always followed its own tax guidelines when dealing with certain tax-related issues. According to procedure, the IRS is required to notify a taxpayer of tax liens within five business days of the filing. It may be of interest to Nevada residents that the service has been remiss in this responsibility.

Several bills designed to curb powers of IRS

Tax collection agencies perform a vital service, but they are rarely the most beloved of organizations. Here in Nevada as elsewhere in the nation, the IRS is under a great deal of scrutiny of late as a result of a series of scandals related to unfair targeting of special interest groups for audit. Now, some members of government have proposed several new bills that would serve to limit the discretionary powers of the IRS and hold the organization more accountable for their actions.

IRS able to share bank information in certain situations

Many Americans have a dim view of the Internal Revenue Service, and the "tax man" is arguably no one's favorite person. That is why it is vital to the average citizen to understand the rights and responsibilities involved with tax issues. For example, many Nevada residents may have deposited money into foreign financial institutions, but very few realize the IRS can view all of the financial information contained therein.

Taxpayers may benefit from visiting IRS website

With tax season just recently over, many people may be breathing a sigh of relief knowing the tax man will not come knocking again for another year. However, as many Nevada residents are already aware, it is always good to plan for the year ahead. A visit to the IRS website may be beneficial in planning for next year's tax season.

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Randolph Law Firm, P.C.
6260 N. Durango Drive
Las Vegas, NV 89149

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Phone: 702-570-3211
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