Tax Relief Blog

Tax & Accounting Service – Preparation, Planning, Representation

September 20, 2021 | Mike Habib, EA

Tax Help? IRS – FTB – CDTFA – EDD tax help.

We provide specialized tax & accounting service for individuals and or businesses facing IRS or State tax problems such as:

– Back Taxes

– Tax Levy – we release wage and bank levies

– Tax Audits

– Tax Appeal

– Unfiled Tax Returns – 1040, 1120, 1065

– Negotiated Tax Settlements

– Tax Liens

– Offer in Compromises

– Tax Planning & Tax Preparation

– Employment 941/940 Payroll Tax Problems/Disputes

Call us toll free 1-877-78-TAXES [1-877-788-2937]

Or visit us online at www.myirstaxrelief.com

Fee starts from $300 for basic tax preparation

Do not compromise on your tax service provider, call us for a free and confidential 15 minute consultation at 1-877-78-TAXES [1877-788-2937].

Whittier 911 Urgent accounting help

September 6, 2021 | Mike Habib, EA

This article is for business owners who need emergency bookkeeping, accounting services to catch up on back years and unprepared books. Many Whittier, Los Angeles, Orange County, and other businesses find themselves at a critical time financially due to Covid-19. The only true way to survive is to realize that you need professional CPA, EA help, finding the right help is the key. When it comes to your business finances no one knows better than an accountant what you are going through. This is why your first call should be to an accounting professional before you talk to your banker. We are uniquely qualified to offer 911 Urgent accounting and bookkeeping help.

Get a free evaluation or second opinion by calling us at 1-877-788-2937.

Whittier 911 Urgent tax help

August 9, 2021 | Mike Habib, EA

For any business, the worst thing that can happen is that you can find yourself in a 911 urgent tax help situation. The IRS is known to be the toughest and most ruthless of all collection agencies on the planet. If you ever find yourself in trouble with the IRS, never consider going it alone. There are always avenues for you to turn and they do allow you to have a representative on your side. While its reputation is one of cold-heated, it is pretty fair, with all things considered. Our Whittier based firm works with clients in Los Angeles, Orange Counties and others nationwide.

For this article, we are going to focus our attention on three specific types of tax issues for businesses. These issues are very serious and should never be ignored, even if you don’t agree with them. Contacting the right representation firm for your 911 urgent tax help will make the difference between a positive or negative outcome.

Get a free case evaluation at 1-877-788-2937.

Tax Debt Relief Services IRS-FTB-EDD-CDTFA

July 12, 2021 | Mike Habib, EA

Each year, many individual and business taxpayers end up owing the IRS hundreds of thousands of dollars due to not filing their taxes by the deadline or under paying them. If you have experienced back tax debt, you need to find a reliable and experienced professional who offers tax debt relief services to assist you in getting caught back up and on track as quickly as possible. While it may feel overwhelming right now, Mike Habib, a Los Angeles based tax debt relief professional can help ease the burden, show you what options you have, and help you choose the right path to get out of debt with the IRS and or FTB, EDD, CDTFA.

Get a free evaluation today at 1-877-788-2937.

How to Keep My New Corporation Out of Trouble?

June 14, 2021 | Mike Habib, EA

Running a corporation is not easy. There are many challenges that you will face, some of which you may not even expect until they happen. And while no one is perfect, you can minimize potential problems if you do the basics. This means surrounding yourself with the best personnel, including the right Los Angeles CPA or EA tax firm that can do so much for your needs.

What follows are some basic principles that will help keep your corporation out of trouble. While even the best practices cannot guarantee that your corporation will not face an emergency or unexpected situation, you can minimize the issues that it faces when you focus on the basics such as the following.

Know Your Current Financial Status – How to Keep My New Corporation Out of Trouble?

Having up to date financial records of all income transactions and expenses is a must for making good business decisions. Knowing where you stand financially provides a clear picture of how your corporation is fairing in the world. This means that you can make solid decisions based on facts and not assumptions.

Too many corporations have suffered because of making business decisions not based on their actual financial status.

Cannabis Tax & Accounting

May 17, 2021 | Mike Habib, EA

Cannabis-based businesses are some of the fastest growing business sectors in the country. With more and more states legalizing medical marijuana and also recreational use, dispensaries and grow operations are popping up all over. Unfortunately, there are a number of things that makes a cannabis business a challenge is that there are many unique situations that go into running an all-cash operation. You need to get EA, CPA help with Cannabis Accounting & Tax if you are going to have a thriving cannabis-based business in Los Angeles or Southern California.

Along with the accounting issues, it is one of the most heavily regulated industries in the country. That makes compliance and even more important consideration that funding. The last aspect is the taxes that have to be carefully monitors. The state and federal government each have their tax laws to consider and you have to be sure that you are dotting all your “I” and crossing all your “T”.

Get a free evaluation today at 1-877-788-2937.

IRS to increase back tax collection, audit enforcement action

April 19, 2021 | Mike Habib, EA

If you have not filed your tax returns, or if you owe unpaid back taxes, employment 941/940 payroll tax, or could possibly be audited, the IRS is raising the bar and hiring more revenue officers and revenue agents.

Our tax firm assists taxpayers in getting compliant, resolving their unpaid back tax matter and represent you at audit and exam conferences to present your case for the best possible tax debt relief outcome.

Call us today for a free evaluation at 1-877-788-2937.

R&D Tax Credits – Important Things to Know

April 15, 2021 | Mike Habib, EA

As a taxpayer, one of the most daunting and potentially stressful times of the year is April 15th.

Staying in the good books of the IRS is imperative, not only for your finances and the reputation of your business, but also for your mental health and sanity in the process. This is where it pays to stay up to date with the various goings on in the world of taxation.

Lately, there has been a lot of talk surrounding R&D tax credits, and how they can potentially benefit large and small companies alike, regardless of which industry you happen to be involved in.

Of course, we recommend hiring a tax professional or seek our Los Angeles based professional tax services and providers if you wish to familiarize yourself with the intricacies of R&D tax credits, although to help make things that little bit easier, we’ll be looking at some important things to know below.

Get an evaluation today at 1-877-788-2937.

Representing High-Income Taxpayers Who Owe Delinquent Back Taxes

March 15, 2021 | Mike Habib, EA

TIGTA identified 685,555 taxpayers who had a balance due as of May 14, 2019. These taxpayers reported adjusted gross income (AGI) of $200,000 or more and owed a combined total of $38.5 billion. Because the IRS prioritizes high balance due cases for collection, many of these high-income taxpayers would be included in high-priority work. However, balance dues are not prioritized by incomes earned and some improvements could be made to prioritize high-income taxpayers more effectively. A separate IRS analysis of 64,317 delinquent tax cases showed that the IRS collected less than 50 percent of tax debt owed by these high-income taxpayers within 52 weeks of assignment to Field Collection. The following chart shows that taxpayers having an average AGI of over $1.5 million paid the IRS an average of 39 percent of what they owe. While 39 percent is more than what the IRS predicted it would collect, these high-income taxpayers still owed over $2 billion.

Average AGI of Taxpayers in This Group Balance Due Actual Recovery Rate Remaining Balance Due $1,563,390 $4,009,955,107 39% $2,442,387,519 $98,289 $1,089,010,998 17% $906,586,760 $24,985 $1,157,135,371 12% $1,014,227,292

Get proper representation by power of attorney 1-877-788-2937.

Los Angeles/Orange County, California Tax Service Help

February 1, 2021 | Mike Habib, EA

Tax Resolution Services

Los Angeles-Long Beach-Santa Ana Metropolitan SoCal area

Local tax helpline 877-78-TAXES [877-788-2937]