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Business Owners: Owe Back Taxes? Actionable Steps for Facing IRS Debt
Entrepreneurship, you know, it's a real rollercoaster. Some years, things are looking up, and other years, well, not so much. But one thing you can always count on, like clockwork, is the IRS coming around asking for their share. Small businesses, we've all been...
read moreGig Workers on the Radar: How On Demand Workers Can Reduce Their IRS Audit Risk
As the shift from traditional employment to self-employment and business ownership continues, many workers are finding themselves in a brand new situation. The IRS has noticed the shift to gig work, freelancing and self-employment, and their auditors and agents are...
read moreIRS Puts Brakes on ERC Processing
According to the IRS, a moratorium on processing of new ERC claims through year's end will allow IRS to add more safeguards to prevent future abuse, to protect businesses from predatory tactics. The pandemic-era relief program is a refundable tax credit designed for...
read moreTax Scams You Should Be Aware of That Could Get You In Hot Water With The IRS
Tax season is universally stressful, and the escalating pressure and uncertainty can leave you wondering if you'll owe money to the IRS. Moreover, the evolving landscape of potential threats adds to the anxiety. In recent years, tax scams have proliferated, falling...
read moreUnderstanding a Notice of Federal Tax Lien and What to Do About It
Unpaid Taxes Consequences: Federal Tax Lien Explained Curious about the repercussions of neglecting your taxes? Brace yourself – a significant consequence is the federal government slapping you or your business with a legal claim known as a federal tax lien. Let's...
read moreDealing with Tax Debt: Taking Control of Your Financial Future
Facing tax debt can be an overwhelming experience, causing feelings of helplessness and anxiety. However, it's crucial not to let fear paralyze you. Delaying action only allows interest and penalties to accumulate, potentially wreaking havoc on your financial...
read moreUnexpected Tax Increases: Factors to Consider for Year-Round Tax Planning
Proper tax planning is a crucial aspect of financial management that should be addressed throughout the year. Waiting until April to assess your tax liability is a risky move. To ensure you keep more money in your pocket, it's essential to be aware of factors that can...
read moreAvoid Tax Troubles: How Amended Tax Returns Can Save Your Day
Filing your tax return accurately is crucial to avoid unnecessary tax troubles. However, it's not uncommon to discover errors or overlooked information after you've already filed. Fortunately, the Internal Revenue Service (IRS) allows taxpayers to amend their returns...
read moreTaking Steps to Correct Errors on Your Tax Return
Preparing and understanding tax returns can be complex and challenging. Even professionals sometimes struggle to ensure every number and detail is accurate. Often, mistakes are only noticed after submitting the return online or sending it via mail, or worse, when the...
read moreImportant Factors to Consider When Choosing a Tax Resolution Firm
Nobody wants to find themselves at odds with the IRS, yet countless taxpayers face this situation every year. With increasing enforcement efforts by the IRS, more individuals are receiving notices and communications from the agency, and you could be one of them. If...
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