Earning will not be enough if you cannot act like an ideal citizen. Every citizen has some duties towards the country and no one is above it. Depending on the income and the assets, every business and citizen must pay the taxes accordingly. Paying tax is the contribution that one makes towards the development of the country. But some mistakes are too common to be committed. Every year many people under file both intentionally and unintentionally. But IRS is too watchful to miss any of these. intentional or unintentional mistake, IRS is going to pick you up ultimately and you have to face the consequences.
Business and Budget
When a business plans its budget and all other details, it must also plan its taxes properly. Businesses withhold tax from the wage of the employees which then goes to different funds. Every business must file and pay the payroll tax on time. If the business fails to do so, IRS will find its own ways of tax collection. In many cases, the amount is collected from individuals and their assets who are linked to the business. As it is nothing new for businesses to run into such issues, they must properly plan it in advance. When facing any issue, a business can take help from a tax relief professional to represent them before IRS.
Individuals and Tax Issues
Individuals can run into issues when they do not file the taxes properly. Many individuals do not file their incomes from investments and freelancing in the tax sheets. But all of these are taxable. Not mentioning these make IRS consider your tax as underfilled one which is an offence. In case you have already underfilled your taxes and IRS has already picked you out, you can always root for professional help.