With more than 30 million small businesses in the US, effective tax planning is essential to maximizing profits and minimizing taxes, keeping more of what is earned, and lowering your taxes for the future. Understanding the intricacies of effective tax planning takes professional guidance to ensure that you are taking…
If you want an easy and stress-free business life, one of the best tips we can give you today is to stay on the IRS’ good side and to not tick them off. Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or…
Although an IRS revenue agent – RA and IRS revenue officer – RO may sound like the same title, there are actually differences between them that you should know. While most individuals may never have to face an IRS audit for example, understanding how the different agents and officers operate…
IRS has provided updated instructions to taxpayers with respect to the effects of coronavirus – COVID-19 on offers in compromise (OICs). IRS has the authority to compromise a taxpayer’s tax liability. An OIC is an agreement between the taxpayer and IRS that compromises a taxpayer’s tax debt for less than…
Dear Client: Right now your highest priority continues to be the health of those you love and yourself. But you may have read a letter that I recently sent that summarized the Coronavirus Aid, Relief, and Economic Security (CARES) Act tax provisions. That letter included a brief discussion of the…
Dear Client: We hope that you are keeping yourself, your loved ones, and your community safe from COVID-19 (commonly referred to as the Coronavirus). Along with those paramount health concerns, you may be wondering about some of the recent tax changes meant to help everyone coping with the Coronavirus fallout. In…
Major tax relief included in COVID-19 stimulus act agreement (03-25-20) The Senate reached agreement on the Corona virus Aid, Relief, and Economic Security (CARES) Act stimulus bill last night, with a vote expected in the Senate today and a House vote today or tomorrow. It’s expected that the President will sign…
For individual and business taxpayers facing hardship, back taxes, payment plans, installment agreements, offer in compromise, tax filings, tax levies, garnishments, liens, compliance and other IRS tax matters. IR-2020-59 on 03.25.2020 IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance programs WASHINGTON – To help people…
Tax Problem Resolution Services It all started with the Tea Party in Boston, when American colonists protested British taxes levied “without representation.” The IRS didn’t come into being until 1862, to handle our first national income tax, 3% of income, levied to fund the Civil War. That tax expired in…
Every business that operates in the United States is responsible for reporting certain types of information to the government. One of the most important things that a business must report is certain tax information for employment payroll on a quarterly and annual basis. They are required by the IRS to…