If you’ve been following tax news lately, you might have heard about two significant bills that just passed the House of Representatives. But what do they actually mean for you as a taxpayer? And more importantly, how can they help if you’re facing IRS penalties or disputes? As a Los…
Nonprofit Taxpayers: What to Do If You Haven’t Filed Tax Returns in Years—A Complete Guide to Accounting, Bookkeeping, Compliance, and Avoiding IRS Scrutiny By Mike Habib, EA – Los Angeles, CA Introduction If you’re a nonprofit leader, board member, or bookkeeper, you know your mission is to serve the public…
If you’re searching for a tax expert in Los Angeles who can help you navigate the maze of IRS and state tax issues, look no further than Mike Habib, EA. Whether you’re dealing with an audit, back taxes, or just want to optimize your tax planning, Mike brings over two…
Transfer Pricing International Tax Controversy: An In-Depth FAQ Transfer pricing is the method by which multinational enterprises (MNEs) set prices for transactions between related entities across borders, directly impacting how profits are allocated and taxed in different countries. Controversies arise due to differing national rules, the risk of profit shifting, double taxation,…
Los Angeles CDTFA Audit & Collection Representation: How Mike Habib, EA Can Help You Navigate the Process Navigating a California Department of Tax and Fee Administration (CDTFA) sales & use tax audit or collection process can be daunting, especially for businesses and individuals unfamiliar with the complexities of California’s tax…
Running a small business in Southern California is a rewarding yet challenging endeavor. Among the many responsibilities that small business owners face, payroll employment tax compliance is one of the most critical—and often one of the most stressful. Payroll tax issues, particularly those related to Form 941, can lead to…
Trust Fund Recovery Penalty (Section 6672): Frequently Asked Questions Expert guidance from Mike Habib, EA – Specializing in IRS tax representation and audit defense What is the Trust Fund Recovery Penalty? 1153 letter? The Trust Fund Recovery Penalty (TFRP) under Internal Revenue Code Section 6672 allows the IRS to personally…
Let’s be honest: seeing an IRS audit letter in your mailbox is a heart-stopping moment. Your palms get sweaty, your mind races, and a million questions flood your brain. What did I do wrong? Can I handle this myself? Is this going to ruin me? Take a deep breath. You’re…
The skyline of Los Angeles is a testament to ambition, diversity, and relentless hustle. From the entertainment studios of Burbank to the tech startups in Silicon Beach, from the family-owned restaurants in East LA to the real estate moguls of Beverly Hills, this city thrives on a complex economic ecosystem.…
Tax issues in California can quickly become overwhelming. Between the IRS, the California Franchise Tax Board (FTB), the Employment Development Department (EDD), and the California Department of Tax and Fee Administration (CDTFA), taxpayers often feel trapped and unsure of their rights or options. This FAQ article addresses the most common…