This is something your accountant or CPA may have spoken with you about… the notion of “reasonable compensation” in the eyes of the IRS or state.

Internal Revenue Service and state tax liens and levies are often confused and misidentified by a taxpayer who receives these nasty love notes in the mail. It absolutely makes sense, as both will cause panic!

The first thing to understand about community property laws is that they do not apply to everyone. If you, or the taxpayer you have in mind, do not reside in the following states or did not reside in the following states when a tax debt was accrued, you can stop reading this article now!

For most, the holiday season can be one of the most exciting times of the year. It’s a time to celebrate with family, honor traditions, and reflect on the year that’s coming to an end.

Let’s say you have a tax debt, and without knowing what direction to head, you log onto Google and type “tax debt resolution industry” to learn who could help and how. The search results may leave you with conflicting information.

Over the last few months, all political sides of the mainstream media have shared some information about the funds earmarked for the IRS in the Inflation Reduction Act. The key word there is “some.”

When it comes to tax debt, one area which seems to generate a great deal of confusion for taxpayers is Individual Estimated Tax Payments. This could be because many people don’t understand when they need to pay estimated taxes or how to calculate them. 

If you are a business owner with employees, you are responsible for withholding a portion of their paychecks to cover Medicare and Social Security contributions…

23 Years In and Still Passionate 

23 years… when I stop to think what that actually represents, it’s shocking: 276 months, 1,196 weeks, 8,395 days, and, considering an average 50 hours per week dedicated to my career, 59,800 hours…

Filing a joint tax return with your spouse has many benefits. However, what you may not know is that there are also disadvantages! Did you know that both parties are jointly liable for associated tax debts when filing a joint tax return?

If you are an individual or business owner with outstanding tax debts, you may be facing the possibility of a Federal or State tax lien. This can be a daunting prospect and can impact your ability to obtain credit or manage your assets for the duration of your lien.

If you are struggling with tax debt, there is a good chance that you are feeling vulnerable and overwhelmed. The important thing to remember is that you are not alone. Did you know that approximately 11.23 million Americans owe tax debt totaling over $114 billion?

One of the most common services our business clients approach us about is 941 tax debt solutions. The reason the IRS is particularly aggressive in its collection efforts for this type of tax is because most of it is directly withheld from employee paychecks.e issue.

If you are dealing with tax debt, there is a good chance that you could be feeling vulnerable as you desperately search for a solution. Unfortunately, that means there are people out there who will use your fragile state of mind against you to make a fast buck!

If the IRS or State has notified you or your business that an audit is pending, it can be a daunting prospect, especially if you have no previous experience in dealing with this type of challenge to your tax returns.

When it comes to finding suitable tax debt solutions to fit your needs, one of the options that could be available to both individual and business taxpayers is a Currently Not-Collectible Petition….