Filing your own taxes can be fairly simple for some people. For others who have complicated employment tax structures, multiple incomes sources, investments, properties, significant deductions and/or businesses to report, it can be all but impossible to do their own taxes.
Hiring someone to do your taxes for you is something that people all across Atlanta choose to do. However, it is important to understand that even if you delegate this responsibility to someone else, you will still be responsible for paying any taxes that went unpaid, even if it wasn’t your fault.
For instance, recently, rapper Iggy Azalea ran into tax problems for the second year in a row. According to news reports, Azalea owes more than $269,000 in federal taxes from last year. In 2014, she reportedly had more than $391,000 in unpaid taxes.
After the first year of tax problems, Azalea was given the same option as others to repay the taxes, which she agreed to do through regular monthly payments. This year, however, she may need to be a little more proactive with resolving her issues. She stated that the most recent hiccup stems from an accounting error, but the fact that hundreds of thousands of dollars were unpaid two years in a row could be cause for concern and a closer look at who is managing her taxes.
Making a mistake that leads to unpaid taxes is not unusual, nor is it something to be ashamed of. People make mistakes all the time, especially when you consider just how complex our tax code is.
But assuming that you don’t have to deal with the repercussions of mistakes because you are not the one who made them is never a good idea. Further, continuing to make these mistakes year after year could leave you exposed to penalties and allegations of a criminal nature.
You are ultimately the person who is responsible for your tax payments. Should you run into a mistake, dealing with it as soon as possible will be in your best interests. In order to do this, you can speak with a tax attorney who can advise you of your options.