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IRS Launches Supplemental Claim Process for Employee Retention Credit
On September 26, the IRS announced a new supplemental claim process designed to assist payroll companies, third-party payers, and their clients in rectifying incorrect claims for the Employee Retention Credit (ERC). This initiative comes on the heels of the IRS...
read moreWhat happens if a business doesn’t file withholding tax returns?
Expert Tax Relief for Unresolved IRS Issues Facing unpaid taxes and IRS notices can be overwhelming. At Back Tax Expert Inc., our team of experienced professionals is dedicated to resolving tax burdens and securing the best possible outcome for our clients. With...
read moreCan the IRS Put a Lien on My Business? | Back Tax Expert, Bill Fritton
The Silent Threat to Your Business: Federal Tax Liens Unresolved tax debt can be a silent threat to your business, looming in the background until the IRS takes action. One of their most potent weapons is the federal tax lien – a legal claim against your business's...
read moreWhat happens if you owe the IRS more than $25,000? | Back Tax Expert, Bill Fritton
Navigating Personal IRS Debts Over $25,000 Owing over $25,000 in personal taxes triggers immediate IRS attention. Expect initial threatening notices leading to possible severe actions like federal tax liens. Promptly addressing these warnings demonstrates good faith...
read moreNavigating the IRS Changes to W-4: Understanding the Impact on Under-Withheld Taxpayers
The IRS has recently implemented significant changes to the W-4 form, leaving many taxpayers scratching their heads and, in some cases, finding themselves under-withheld. This overhaul aims to simplify the tax withholding process, but understanding these modifications...
read more7 Signs an ERC Claim May be Incorrect
The Internal Revenue Service is urging businesses to review seven suspicious signs of a bad claim and see if the agency’s special programs can help them avoid future compliance issues. Over the last several years, many unscrupulous tax credit promoters that marketed...
read moreUntangling Tax Terms: The Distinction Between Lien and Levy
Tackling taxes can be overwhelming, and when back tax debt enters the equation, complexities and stress can intensify. The terms "lien" and "levy" often surface in discussions about unpaid taxes, each carrying specific meanings and consequences in the realm of...
read moreUnveiling IRS Audit Triggers: A Guide to Secure Tax Compliance
Facing an IRS audit can be an overwhelming experience, as the prospect of having your financial records scrutinized by the formidable IRS can be unsettling in terms of both time and money. In this article, I aim to provide valuable insights into the top reasons...
read moreGrasping 8 Common Approaches Employed by the IRS for the Collection of Delinquent Taxes
The IRS is widely known for its robust efforts in collecting taxes and pursuing non-compliant taxpayers. Nevertheless, there exist widespread misconceptions about the extent of their powers and the severity of their tactics. In this article, we aim to demystify common...
read moreIRS Automatic Penalty Relief: A Lifeline for Taxpayers
Introduction: Amidst the ongoing challenges brought about by the pandemic, the IRS has announced automatic penalty relief for taxpayers with a balance due in tax years 2020 and/or 2021. This initiative, effective from Feb. 5, 2022, to Dec. 7, 2023, specifically...
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