This podcast episode addresses listener tax questions, focusing on when to use tax software versus hiring an accountant, the reporting of freelance income (even without a 1099 form), penalties for underreporting income, and the IRS's process. The hosts, two tax attorneys, advise using tax software for simple W-2 situations but recommend an accountant for freelancers or business owners. They explain that while small amounts of unreported income are unlikely to be audited, all income should be reported legally. Finally, the episode details options for taxpayers who can't afford their tax bill, including payment plans, compromise offers, and non-collectible status, and highlights the Taxpayer Advocate service as a helpful resource.
