Tax Relief Blog

FAQ tax problem resolution – get tax-iety relief today

February 1, 2023 | Mike Habib, EA

Tax anxiety, TAX-IETY, comes in different forms of tax problems such as:

What is an IRS audit tax-iety?

An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws. If the IRS finds errors or discrepancies in the tax return during the audit process, it may result in an adjustment to the tax liability and possibly additional taxes owed, penalties and interest. The IRS may conduct audits through various methods, including correspondence audits, in which the taxpayer is asked to provide additional documentation by mail, or field audits, in which an IRS agent visits the taxpayer’s place of business or home to review the tax return and related records in person. If you are selected for an IRS audit, it is important to cooperate with the process and provide the necessary documentation to support the information reported on your tax return.

Our Whittier, Los Angeles, CA tax representation firm represents audited taxpayers before the IRS & Appeals, contact us today at 1-877-78-TAXES [1-877-788-2937].

New year tax resolution – resolve your tax problem today

January 2, 2023 | Mike Habib, EA

Types of IRS tax problems and how to resolve them

There are many types of IRS tax problems that individuals and businesses may encounter. Some common tax problems include:

Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.), you may be subject to penalties and interest for failure to file and for any unpaid taxes.

Owing back taxes: If you owe back taxes, personal income tax, corporate income tax, or employment 941 payroll tax, the IRS may take enforcement action, such as placing a lien on your property or garnishing your wages and levying your bank accounts.

Incorrect tax returns: If you make mistakes on your tax return, you may owe additional taxes, penalties, and interest. Amending your tax returns could correct these errors.

Disputing a tax bill: If you disagree with a tax bill, you can file an appeal with the IRS.

Tax evasion: Tax evasion is the deliberate attempt to avoid paying taxes. It is a federal crime punishable by fines and imprisonment.

Los Angeles tax, accounting service

December 15, 2022 | Mike Habib, EA

How to fix my messy back-years accounting for my Los Angeles, CA business?

If you have messy books for many back years of accounting, it can be overwhelming to try to organize and clean them up. Here are some steps you can take to tackle the task:

Take an inventory: First, make a list of all the records you have, including bank/credit card statements, invoices, receipts, and other documents. This will help you to get a sense of the scope of the project and to identify any missing records.

Set goals: Determine what you hope to accomplish by cleaning up your books. For example, you may want to catch up on your tax filings, prepare for an audit, or simply get a better understanding of your financial situation. Having specific goals in mind will help to keep you motivated and focused.

Create a plan: Develop a plan for organizing and cleaning up your books. This might involve setting aside a certain amount of time each week to work on the project, or breaking the task down into smaller, more manageable chunks.

Gather tools and resources: Make sure you have the tools and resources you need to get the job done. This might include accounting software, a financial calculator, and reference materials such as tax guides or accounting textbooks.

Seek help: If the task is too overwhelming to tackle on your own, consider seeking the help of a professional, such as a local SoCal EA enrolled agent or CPA. They can provide guidance and expertise to help you get your books in order.

By following these steps and working steadily and consistently, you should be able to make progress in cleaning up your books and getting your financial affairs in order.

Our Los Angeles based tax firm, led by Mike Habib, Enrolled Agent, represents and helps business taxpayers get compliant with back years, contact us today at 1-877-78-TAXES [1-877-788-2937].

FTB Back Tax Representation – Get Help

November 28, 2022 | Mike Habib, EA

If you were to ask most Californians if they knew what the IRS does, most of them would know exactly what you were talking about. However, if you were to ask the same people if they knew what the California FTB does, I would guess a small number of them would know.

The answer to the question of what the FTB does is? Is quite simple, they are tasked with collecting all of the income taxes assessed by the state of California. The FTB or Franchise Tax Board was created to replace the office of the Franchise Tax Commissioner that was abolished in 1950.

Get FTB help, call our Los Angeles based tax representation firm today at 1-877-78-TAXES [1-877-788-2937].

FTB Audit Representation by California State Taxing Authority

October 28, 2022 | Mike Habib, EA

In case you were not aware of what the FTB is, it is the California board that is responsible for collecting all of the personal income tax and business franchise taxes that are assessed every year for people and companies in California. Formed in 1950, the board replaced the original Franchise Tax Commissioner that was created by the original California Constitution.

The board uses several methods to collect owed taxes. The most frustrating method is the audit and if you receive an exam notice in the mail, you better take it seriously. This should include your right for CA FTB Audit representation. Our tax representation firm can help you get the best possible outcome from your audit.

The CA FTB is made up of three individuals that hold specific positions in the state government. The people who have these three positions are who make up the Franchise Tax Board; California State Controller, Chair of the Board of Equalization, and Director of the Department of Finance.

Betty T. Yee (State Controller)

Malia M. Cohen (Chair of the Board of Equalization)

Joe Stephenshaw (Director of the Department of Finance)

Get FTB help, call our Los Angeles based tax firm today at 1-877-78-TAXES [1-877-788-2937].

Los Angeles Tax Services – Local tax firm serving all Southern California

October 3, 2022 | Mike Habib, EA

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Some may wonder why we have to pay them and for what purpose. They contribute to resources such as our government, educational systems, law enforcement, libraries, and others. However, individuals who fail to pay taxes can suffer penalties and potential criminal charges.

There is a substantial amount of time you have to file your taxes, but the process can seem hefty. With the help of Los Angeles tax services firms, you can receive information on your tax return, the amount you owe, and various resources for tax preparation service. Furthermore, there are different kinds of tax advisors that serve a purpose to fit your needs. Our Los Angeles tax services can become an essential part of the taxing process.

Call us today at 1-877-788-2937.

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