Category: Taxation


Things to Know About Private Tax Collectors

  • Robert S. Thomas,
  •   Taxation
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  In recent years, there has been a growing trend of scammers, who call innocent victims and pretend to be IRS representatives. They ask for personal information (such as their social security number) or make threats of collection actions or arrest in order to get money from their victims. The media, and even the IRS,  … Read more

Illinois Woman Attempts to Steal From IRS

  • Robert S. Thomas,
  •   Taxation
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  Fraud has become rampant in the digital era. With scammers using all sorts of tactics, including phishing schemes in which thieves fraudulently convince people to disclose their social security numbers and other key information. Or it can involve hacking employers, companies, and governmental agencies for massive data hauls. The IRS is not immune to  … Read more

Summertime Tax Considerations

  • Robert S. Thomas,
  •   Taxation
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  When you think of the summer time, or even the early fall, you probably think of the hot sun, the lake and water parks, family vacations, sending the kids back to school, and labor day. One subject that probably does not cross your mind is taxes. However, as a tax lawyer, I can tell  … Read more

Man Gives IRS the Finger

  • Robert S. Thomas,
  •   Taxation
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  On a basic and fundamental level, most American taxpayers understand that taxation is necessary to keep the government, military, infrastructure, public service, education, and emergency services running. But beyond this basic understanding, there is little consensus on key aspects of taxation. For example, not everyone agrees with how big the government should be, who  … Read more

Possible Changes to IRS Tax Appeals

  • Robert S. Thomas,
  •   Taxation
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  The IRS has seen major budget cuts in recent years. Despite this, the agency has had to do more with less, while continuing to conduct its normal operations. One place where the IRS has had to make adjustments is with tax appeals. A taxpayer who is audited or whose tax obligation is adjusted has  … Read more

Illinois Residents Facing Income Tax Increase

  • Robert S. Thomas,
  •   Taxation
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  The state of Illinois asks a lot of its taxpayers. For decades, since 1969, the state has faced budget crisis after crisis, and deep political divides between those who believe in tax increases to balance the budget and those who don’t. Unfortunately, the historical trend has left the state with one of the highest  … Read more

Benefiting from a Roth IRA

  • Robert S. Thomas,
  •   Taxation
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Planning for retirement can give anyone a headache. There is no one-size-fits-all retirement investment vehicle, and there are so many options that the media is telling you put your money into. Many people throw their hands up and entirely rely on the retirement account provided by their employers. Before you do this, I would encourage  … Read more

Teaching Your Child About Taxes

  • Robert S. Thomas,
  •   Taxation
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While paying taxes is hardly popular, most people accept that this obligation is a part of the American experience. Taxes pay for our government, schools, and our military, and allow our democracy to continue. Unfortunately, the process of figuring out one’s tax obligation can be confusing, even for people who have been filing their taxes  … Read more

IRS Enters Reporting Agreement With More Foreign Nations

  • Robert S. Thomas,
  •   Taxation
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Many American taxpayers diversify their investment portfolios by investing and holding their money overseas. There is nothing inherently wrong with this and makes sound financial sense. However, the IRS sees this money as hidden, lost tax revenue. Traditionally, the IRS has been unable to access this money as it relied on taxpayers self-reporting their foreign  … Read more

What is a Death Tax?

  • Robert S. Thomas,
  •   Probate, Taxation
  •   Comments Off on What is a Death Tax?

We work hard to provide for our families. We sacrifice, we save, and we make financial decisions with the future in mind. Ultimately, it is all done to provide a good life for your family during your lifetime and beyond. That is why many people who have accumulated great wealth in their lifetime resent that  … Read more