Tax Relief Blog

IRS Audit & Appeals Help – How the Inflation Reduction Act Affects

September 1, 2022 | Mike Habib, EA

Although the 2022 Inflation Reduction Act (IRA) was touted as being a bill designed to reduce inflation, it carries with it considerably more baggage. In particular, the expansion of the IRS and it tax enforcement arm will result in more taxpayers seeking IRS audit & appeals help as it comes into effect starting next year.

Understanding the expansion of the IRS and how it affects you will assist in reducing the chances that you will be audited. But keep in mind that this expansion will take years to complete. This means that over the next few years, your chances of being audited will rise as more revenue agents are being hired.

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

Unpaid payroll taxes Help – Los Angeles, CA local representation firm

August 1, 2022 | Mike Habib, EA

According to the most up-to-date US Tax Code, all US-based business employers are required to file employment 941 / 940 Payroll Tax forms with the IRS every quarter and year-end at a prescribed date. These employment reporting forms goes along with all of the necessary payments that are made to the IRS throughout the year. When a Los Angeles, CA business employer runs afoul of the IRS, it is very important to know that it is serious and you should seek out professional help from a representation firm that knows how to handle unpaid payroll taxes help. These tax professionals can be your best friend when it comes to dealing directly with the IRS.

Get employment tax help today 1-877-788-2937.

Tax Preparation Expert in Santa Fe Springs, California

July 1, 2022 | Mike Habib, EA

Are you in need of a tax preparation expert in Santa Fe Springs? More than enabling your problem to grow and acquire more fees, penalties and fines, we can help you with your business bookkeeping and tax preparation needs. We are a firm with experts in auditing and resolving IRS issues, we can help you find solutions to your tax problems. You need an expert in tax preparation services in Santa Fe Springs in California to enable your business to find the appropriate tax resolution and get help.

Call us today at 562-204-6700.

Tax Service Firm in Norwalk, California

June 1, 2022 | Mike Habib, EA

Are you in need of a tax service provider? We can help you resolve your tax service issues. Your problem will not be solved by paying interests, fines and fees. You need to seek help from a professional tax service provider. You need someone to help you in terms of business bookkeeping, tax preparation, tax planning and even with tax controversy. We can also give assistance when it comes to IRS audit help. You need someone who is well versed in tax resolution and someone who has a better understanding about tax services in Norwalk, California to allow you or your company to find effective tax resolution and get necessary assistance needed.

Call us today at 562-204-6700

Amending corporation tax returns 1120 or 1120S business to 1120X or 1120SX

May 2, 2022 | Mike Habib, EA

Amending and or correcting a US corporate 1120 or 1120S business tax return (1120X), there are many reasons to do so: Corporate business returns often require amendments to correct errors or to claim overlooked income, deductions or tax credits after the filing of the returns, if located in Los Angeles, CA or other city.

The process of correcting business corporate returns 1120 or 1120S requires different types of amended forms and an understanding of the refund procedures as well as possible additional tax obligations. Business taxpayers should timely correct and amend their corporate business tax returns to assure inaccuracy of penalties being assessed, and of course to avoid a possible audit and its significant impact on you the taxpayer.

Amending personal income tax returns 1040 individual to 1040X

April 1, 2022 | Mike Habib, EA

Amending and or correcting a US individual 1040 income tax return (1040X), there are many reasons to do so: correcting filing status of the taxpayers, which if not corrected, would result in incorrect total income reported, tax deductions and tax credits. Taxpayers should timely correct and amend their personal tax returns to assure inaccuracy of penalties being assessed, and of course to avoid a possible audit and its significant impact on you the taxpayer, if located in Los Angeles, CA or other city.

Los Angeles Business Bookkeeping Services – Choosing the right firm

March 1, 2022 | Mike Habib, EA

Bookkeeping is a very important part of any business and unless you have a dedicated department to handle yours, you should consider hiring an outside tax/accounting firm. Keeping track of how much money is coming in and going out is paramount and when it comes to hiring a firm you need to find the right one.

Hopefully, by the time you get to the end of this article, we provided you with enough reasons to choose to go with a tax/accounting firm that offers the best Business Bookkeeping Services. As part of our research for this article we discovered many benefits of using a bookkeeping service and we included our top five reasons.

Get a free evaluation by calling us at 1-877-78-TAXES [1-877-788-2937].

Our firm is based in Whittier, Los Angeles, California and we serve clients in various industries, such as real estate, construction, insurance, automotive, healthcare / medical, franchises, restaurants and bars, manufacturing, retail / wholesale, distribution, import / export, lawyers, non-profits, IT / technology / software, startups, farming, churches, freelancers and many more.

5 FAQ When Choosing a Los Angeles CPA or EA – Small Business Accounting

February 1, 2022 | Mike Habib, EA

One of the most important aspects of a company to the small business owner or operator is the financial, accounting side. It is very important to know the financial condition of your business. For most businesses, this falls on the Accounting department. For smaller businesses, where there is not an option, a CPA or EA firm may be a better choice.

A CPA or Certified Public Accountant, or EA Enrolled Agent is a specially trained professional who knows all of the necessary rules and regulations regarding business finances. This includes the very important topic of taxes (preparation, planning and representation). This article is designed to discuss the benefits of hiring and working with a Los Angeles CPA and or an EA. Below will be some frequently asked questions that cover the benefits of using an EA or a CPA for your small business finances.

Get a free evaluation by calling us at 1-877-78-TAXES [1-877-788-2937].

IRS TFRP Help – Everything You Need to Know About Trust Fund Taxes and Penalties

January 3, 2022 | Mike Habib, EA

As hard to believe as it may be, we are now in yet another year and here’s to hoping that 2022 will be significantly better than the last previous years, but we digress. What we’re here to talk about today is IRS TFRP help, or trust fund recovery penalty help, as it is better known.

With tax season coming up fast, our thoughts will soon be turning to our books and accounts, as we look to get all of our taxes in order so as to appease the wrath of the tax man.

If you’re a small business owner, you will likely already be aware that unpaid employment 941 payroll trust fund taxes can cause monumental headaches. When money is held ‘in trust’ it has to be paid to the Treasury on a weekly, semi-weekly or monthly schedule. This is all well and good, but should a business use these funds for any other purposes, I.E for paying rent or utilities, problems with the IRS could potentially arise.

It doesn’t matter whether this money was “borrowed” in good faith at all, if the money isn’t returned, the IRS can actually slap you with the trust fund recovery penalties portion and hit you with employment 941 payroll business back taxes personally.

Get tax help today by calling us at 1-877-78-TAXES [1-877-788-2937].

Our tax representation firm is in Whittier, Los Angeles, CA but serves taxpayers in all 50 states.

Employment Tax Help – Key Reasons to Hire an Employment Tax Professional

December 17, 2021 | Mike Habib, EA

With tax season now right around the corner, it’s more important than ever to get your accounts and payroll 941/940 tax returns in order, rather than potentially find yourself staring down the wrong end of a substantial penalty from the Internal Revenue Service.

Each year, countless business owners and taxpayers alike seek out employment tax help from tax professionals, EA, CPA, Attorney as understanding how employment tax works can be tricky and complex.

As an employer, it is your responsibility to report and deposit employment taxes. At the end of each financial year, you must prepare and file Form W-2, Wage and Tax Statement in order to report wages, tips, and various other types of financial compensation which have been paid to an employee.

Sounds complex? That’s because it is. It is little wonder then, to learn that employment tax help professionals, CPA, EA, Attorney are so highly sought-after in the business world. If you’ve not yet hired one, you almost certainly will after reading this today.

Get tax help today by calling us at 1-877-78-TAXES [1-877-788-2937].

Our tax representation firm is in Whittier, Los Angeles, CA but serves taxpayers in all 50 states.