Explore a comprehensive range of resources related to tax law, including in-depth articles, expert video interviews with seasoned tax attorneys, and clear definitions of key legal terms. This category offers valuable insights into tax regulations, compliance issues, and strategies for individuals and businesses navigating complex tax matters. Stay informed and empowered with the latest legal information and expert guidance tailored to your tax-related questions and concerns.
An Offer in Compromise (OIC) is an IRS program that may allow you to settle federal tax debt for less than the full amount owed, based on your ability to pay. The IRS evaluates your income, expenses, assets, and overall “reasonable collection potential” to decide whether to accept the offer. This article explains how an […]
An IRS lien is a legal claim the government places on your property when you don’t pay federal tax debt after the IRS assesses it and sends a notice and demand for payment. It attaches to real estate, personal property, and financial assets, making it harder to sell or refinance until the debt is resolved. […]
A tax audit is an IRS or state revenue agency review of your tax return to verify income, deductions, and credits, and it can result in no change, a refund, or additional tax owed. Audits may be triggered by discrepancies, unusual deductions, third-party reporting mismatches, or random selection, and they can be handled by mail […]
Tax evasion is the intentional, illegal act of avoiding taxes by underreporting income, inflating deductions, hiding assets, or failing to file required returns. It differs from tax avoidance, which uses lawful strategies to reduce tax liability, and can trigger civil penalties or criminal prosecution depending on the conduct and amount involved. This article explains what […]
A property tax assessment is a local government’s valuation of your property used to calculate your annual tax bill. Assessors estimate an assessed value based on market data, property features, and assessment rules, then apply the local tax rate. This article explains how assessments work, what affects value, and how to review or appeal. Understanding […]
Gift tax is a federal tax that may apply when you give someone more than the annual exclusion amount—$18,000 per recipient in 2024—though most people owe $0 because of the lifetime exemption. In many cases, you still must file IRS Form 709 to report gifts above the limit, even if no tax is due. This […]
Inheritance tax is a state tax some beneficiaries may owe on inherited money or property, and only a handful of U.S. states currently impose it. The rate and exemption depend on where the deceased lived and your relationship to them, with spouses often exempt and more distant heirs paying more. This article explains how inheritance […]
Estate tax is a federal tax on the transfer of a person’s assets at death, and in 2025 it generally applies only to estates above the federal exemption (about $13.6 million per person). Some states also impose their own estate or inheritance taxes with lower thresholds. This article explains how estate tax works, what counts […]
International tax issues can require filing in 2+ countries when you earn, invest, or hold accounts abroad. Each jurisdiction has distinct residency rules, withholding, reporting forms, and treaty relief that can prevent double taxation. This article explains common cross-border tax challenges, key rules, and what to know to stay compliant. Earning, investing, or doing business […]
Fixed-fee CPA services typically cost a predictable monthly retainer instead of hourly billing. That certainty helps small businesses stay current on bookkeeping, payroll, and tax filings, reducing late-filing and penalty risk. This article explains how fixed-fee pricing supports legal compliance and better risk management. By Brandon Lockhart, CPA | Lockhart & Powell CPAs For most […]
February 6, 2026•By Attorneys.Media Editorial Staff
Tax evasion is deliberately avoiding taxes through illegal methods like hiding income or claiming false deductions. Unlike legal tax avoidance, it's a crime with serious consequences. Common forms include unreported cash, crypto tax evasion, and offshore accounts. Understanding the line between legal and illegal is crucial.
