Not your average tax and accounting firm.
If you can’t pay your taxes, you are not alone. While 3 out of 4 American taxpayers receive a refund each year, there are those who for one reason or another end up owing. Of those who owe Uncle Sam, many don’t have the means to pay. But not paying is a horrible idea. Instead …
Can’t Pay Your Taxes? Here Are Some Payment OptionsRead More
If you haven’t filed tax returns for awhile, you’re not alone. In fact, you’d be hard-pressed to find someone who actually enjoys the process of filing taxes. Having said that, it’s something that needs to happen annually, regardless of the fun factor. There are a myriad of different reasons why you may have fallen behind …
Haven’t Filed Tax Returns For Multiple Years? Here’s What You Need To Do NextRead More
An Offer in Compromise can be an effective way for individuals and businesses to settle a federal tax debt. This federal program allows taxpayers to enter into an agreement, with the IRS, that settles a tax debt for less than the full amount owed. Sometimes taxpayers can settle for significantly less, especially if they have …
Video Tips: Taxpayers With An Outstanding Tax Bill Should Consider An Offer In CompromiseRead More
Concerned that after this last pandemic year you can’t pay your taxes? Most taxpayers will receive a refund when they file their income tax returns. But what if you end up owing the IRS and can’t pay your taxes within the given deadline? Watch this video for some possible solutions to minimize your tax penalties …
Video Tips: Can’t Pay Your Taxes? Watch for options.Read More
If you have income coming in from a side hustle, be aware that reporting requirements have changed. For several years now, the IRS has required payments made to merchants through various marketplaces, payment processors (credit & debit cards), and third-party settlement organizations (TPSOs) to be reported on Form 1099-K. The purpose being to uncover merchants …
If You Have A Side Hustle, Be Advised: The IRS Is Cracking DownRead More
Wondering about the child tax credit and what’s coming next? The last deposit date for the child tax credit payment was December 15, 2021. Many had hoped the American Rescue Plan (ARP) would be continued into 2022. But political leaders are struggling to find a way to make Congress happy. As a result, many families …
Will the budget increase affect the audit rate next year? It’s the big question of the new year. In September of 2021, the Congressional Budget Office announced a proposal to increase funding for the IRS. The amount includes $80 billion over the next ten years. The argument is that doing so would ultimately increase the revenue the …
The IRS May Be Getting a Massive Budget Increase. Will it Impact the Audit Rate?Read More
If you recently received a letter from the IRS – don’t panic. While the dream of finding an IRS refund check in the mailbox is over now that most tax refunds are deposited directly into taxpayers’ bank accounts, IRS correspondence by mail is still flourishing. Since the IRS does the majority of auditing through correspondence, …
Tax refund going to unpaid debt? Waiting for a tax refund and it never arrives? It may be because you have outstanding federal or state debts. Learn how to be more proactive about debt payments so you can get money returned to your bank account. Question about owing outstanding debt to the IRS? We can …
