| Liar Liar: Surprise! It turns out Lawyers have been | | | | -Have filed and paid your taxes on time for the past |
| caught lying. Who would have thought it? On a more | | | | 5 years |
| serious note, the IRS does pay close attention to | | | | Prevent Debt: |
| Tax Returns filed by Lawyers and even accountants. | | | | File on Time: Lawyers are often busy. But there's no |
| So if you're a lawyer, pay special attention to what | | | | excuse for not filing your taxes on time. You know |
| you do. Because you are being watched. | | | | they are due every year. Failure to file penalties are |
| Get Rid of IRS Debt: | | | | 5% per month. So if you don't want your debt to |
| Installment Agreement: If you can pay off the whole | | | | sky rocket, file your taxes on time. |
| amount you owe in at least three years, consider an | | | | Getting Greedy: IRS auditors keep an eye out for |
| Installment Agreement. If you qualify, you can | | | | personal expenditure deducted as "business |
| actually pay your debt in easy monthly payments. | | | | expenses." Lawyers have been caught writing off |
| But there are rules you have to comply with: | | | | home remodeling and even new yachts as "business |
| - You have to file your taxes on time every year | | | | expenses." And don't try to claim that the yacht is |
| - You cannot miss a payment | | | | for your business because its "good PR," either. |
| - You have to pay off your debt in the agreed upon | | | | Mind the Law: Being a lawyer is hard work. In fact, |
| time period. | | | | surveys show Lawyers show some of the lowest |
| In order to qualify for an Installment Agreement, You | | | | job satisfaction out of all college graduates. But you |
| must: | | | | are used to filling out loads of paperwork. What's one |
| -Fill out form 9465 "Installment Agreement Request." | | | | more form to fill out? File your tax returns. File them |
| -It helps to fill out form 433-A "Collection Information | | | | on time. And don't lie on your tax returns. The IRS |
| Statement for Wage Earners and Self-Employed | | | | will find out, and when they do, IRS debt will soon |
| Individuals" | | | | follow. |