Owing back taxes can be a stressful and overwhelming situation. Whether you've fallen behind on your income taxes or have unresolved tax debt from previous years, it's essential to address the issue promptly and take the necessary steps to resolve it.

It’s important that U.S. citizens and resident aliens living abroad understand their tax obligations.

Their worldwide income -- including wages, unearned income and tips -- is subject to U.S. income tax, regardless of where they live or where they earn their income. They also have the same income tax filing requirements as U.S. citizens or resident aliens living in the United States.

Last year, Ohioans put more than $139 million back into their pockets.

Unclaimed funds are lost or forgotten money that businesses and banks report to the division after accounts become inactive, typically between three and five years.  The money can come from inactive checking and savings accounts, refund/credit balances, uncashed cashier’s checks, stocks and bonds, forgotten utility deposits and final paychecks.

We don’t want to be friends with our co-workers. We don’t want to help out with that project. We don’t trust the CEO…or our boss…or that guy in accounting.

Have we taken our cynicism at work too far?

You’ve filed your taxes, but you’re feeling anxious.

What about that income you forgot, or “forgot”? The deduction you shouldn’t have taken, or past returns you never filed at all? 

Now you’re worried about the long arm of the Internal Revenue Service. How much time does the agency have to find you before the statute of limitations expires?

This blog post will explore the guidelines for maintaining tax records and the factors that can influence your record-keeping decisions.