Certain federal taxes are deposited into a trust fund once they are collected, including: Federal income taxes Social Security taxes Medicare taxes Businesses must withhold these taxes from an employee’s paycheck and send them to the IRS. The timing of…
The IRS has a wide variety of tools that it can use to enforce tax laws. The agency can assess a penalty if you have failed to file your tax return on time, which can increase the amount of money…
Being contacted by IRS criminal investigators can be alarming. Unlike routine IRS audits or tax collection matters, contact from the IRS Criminal Investigation Division (IRS-CI) often means the government suspects potential tax fraud or another criminal tax violation. If IRS special agents reach out…