The Importance of Tax Law and Tax Returns
If you’ve ever had a job in the United States, you’ve likely had to do your taxes at one point or another. It starts off with you filling out a small mountain of paperwork when you first get your job and ends with you filling out a slightly-larger mountain of paperwork during tax season.
For a lot of us, tax season is a fun time of year because we usually get a bit of money back with income tax. This money is given back to us because the government took x amount of money out of our checks when it was not necessary.
The checks we receive around tax season fund a lot of things for different people. Some get much-needed work done on their cars, while others use the money for their summer college tuition. Other people have more reliance on their income tax checks, and when they don’t receive it, disaster could strike.
Certain low-income groups budget the first half of their year on receiving their income tax, and one mistake could prevent them from getting it. Even one small error on one line of paperwork can throw a huge wrench into things.
And when these people don’t have the money that they were counting on, they can run into a lot of trouble with various groups of people to whom they owe money. They quickly rack up late fees for car payments and struggle to pay back other loans.
You’d think that because income tax is such a vital source of income for some people, the laws surrounding filing would be simple.
Well, according to THEVOZ Attorneys, LLC, tax law is one of the most complicated laws out there, especially in the United States. This means that the average person likely struggles to understand just how those forms work.
If there is an error on the tax filing, the Internal Revenue Service will send a notice to the taxpayer and give them a window of time to fix it. Hopefully, the taxpayer can fix it and the issue is resolved. But, if the taxpayer is unable to fix the issue, or does not even think that there is an issue, a lot of other issues can pop up.
One of the consequences of incorrectly filing taxes is paying a hefty fine, and a more severe consequence is jail time. Now, neither one of these options sound particularly appealing, do they?
The best thing for someone who feels a bit confused on their tax filings is to find someone who can help guide them through the process. There are a few online services that will file someone’s taxes for them for free. If there are any issues, the website can help them out.
But the big issues arise when those websites fail to catch issues and the client is left confused and alone. A law office well-versed in tax law can help challenge tax disputes and ensure that the taxpayer ends up with everything filed and put away neatly.