Help for Your Tax Problems
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- November 6, 2020
A Guide to the IRS Statue of Limitations
You have probably been bombarded with tips from your tax professional to hang onto copies of your tax returns and any relevant receipts and forms after you file every single year. The question that arises is, “Just how long do you need to save these copies and receipts?”. With a statute of limitations, you can […]
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- September 22, 2020
Tax Planning for Self-Employed Individuals
Being self-employed gives you a unique opportunity to be your own boss. However, this level of freedom comes with great responsibility. For starters, you are called to take charge of your own retirement plan and, of course, pay your own FICA taxes (Social Security and Medicare). This means that you must understand and comply with […]
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- September 18, 2020
IRS Revenue Officer: Who They Are and What They Do
Dealing with an IRS Revenue Office can be a challenging and, sometimes, even nerve-racking experience, especially when one shows up at your business or house doorstep unannounced. However, most of the time, these feelings of anxiety and stress are misplaced. This guide will shed some light on the details surrounding IRS Revenue Officers, what exactly […]
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- August 21, 2020
CPA vs. Tax Attorney: Which is Right for You?
Taxes are a standard part of life, though there is no question they come with many considerations. Some of these considerations deal with which forms to choose, or to file jointly or separately. You might be asking which tax solution is right for you. Other considerations come in the form of which tax professional meets […]
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- August 17, 2020
A Streamlined Guide to Tax Returns
The tax return season usually causes headaches to many individuals, self-employed and corporations alike. Buzz words like tax returns, Form 1040, Form 1040X, Form 1120S, and Schedule A only come to confuse things some more. This comprehensive guide sheds light to key must-knows so you begin to have a clearer idea of tax preparation, tax […]
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- July 21, 2020
Understanding Tax Penalties
Tax Day is the date by which you need to submit your individual tax return to the IRS (usually April the 15th each year). If you have all the money to pay your liability, then all is great. But, what happens when you lack the necessary funds? In this case, the IRS may charge tax […]
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- July 21, 2020
Understanding Tax Liens
If you owe back taxes, tax liens (and their siblings, tax levies) can affect you seriously if you don’t take proper action. In this guide, we give you all the details you need to know about tax liens, as well as ways to remove them if you get caught in their net. What Is a […]
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- June 15, 2020
Tax Relief: What It Is and How It Works
A relatively recent government study showed that more than 20% of tax filers had a 2018 IRS tax bill. This means that one out of every four Americans may not have had enough taxes withheld in the 2018 fiscal year. Things can get quite challenging for taxpayers who owe taxes but have no money to […]
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- June 15, 2020
IRS Audits: What Cause Them and How to Handle Them
Round numbers, deduction overkill, and math mistakes can raise some red flags that may bring the IRS knocking on your door, wanting to double-check your numbers to ensure you don’t have any return-related discrepancies. Whether an IRS or state audit, there is no reason to worry, provided that you are telling nothing but the truth […]
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- May 14, 2020
IRS Offer in Compromise: What It Is and How It Works
Offer in Compromise is an IRS program that enables taxpayers to get a fresh start with the Internal Revenue Service. In doing so, they have the chance to settle their tax liability for less than the overall amount of money they owe. Therefore, if you are struggling to pay your federal or state tax liability, […]
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