If you or your company are being audited by the Internal Revenue Service, this is when proper IRS tax audit representation can help. Unfortunately, too many people believe that such representation is either unnecessary or having their CPA is good enough. And while having a trained tax preparer, an accountant,…
If you are facing payroll tax problems, then you have a serious issue on your hands. This is especially true for small business owners and entrepreneurs who may not have the knowledge, experience, or skill set to understand how tax issues with their unpaid 940/941payroll and employment got out of…
The Tax Court has upheld the IRS’s decision to reject a taxpayer’s proposed offer-in-compromise and to decline to abate interest and failure-to-pay additions to tax. The IRS may enter into an offer-in-compromise to reduce a taxpayer’s outstanding tax liability if, among other reasons, there is doubt as to collectability. Rejection…
In a Private Letter Ruling, IRS has determined that an organization does not qualify for Code Sec. 501(c)(3) exempt status because, among other things, the organization’s articles of incorporation don’t limit its purposes to one or more exempt purposes and expressly empower it to engage in business activities under state…
The following is a summary of important tax developments that have occurred in April, May, and June of 2019 that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage…
Form 941 is a quarterly payroll report filed by employers indicating employees’ wages, tips, withheld tax, medical, taxes, and social security taxes. It is a form of trust fund because the employer is in a fiduciary position to hold fund on employee’s behalf before the government receives it. If an…
The IRS or Internal Revenue Service has a singular purpose as part of the Federal Government, it is designed to collect and account for all of the tax dollars owed to the government. The IRS derives all of its power from the United States Tax Code and all actions that…
This article will define tax debt and tax relief, the role of representation by EA, CPA, lawyer, benefits that come with using a power of attorney, situations that they come in and some of the tax relief solutions they offer. Tax debt is where one fails to pay taxes to…
A tax attorney, EA enrolled agent, CPA certified public accountant, provide tax audit representation to taxpayers who have never been audited in cooling down their anxieties and eliminating fear when the Internal Revenue Service checks in to conduct the audit. The first-time clients to be audited are not aware of…
— This is a technical and educational piece — The IRS consistently assesses different type of penalties. In 2017 the IRS assessed nearly 39 million civil penalties totaling roughly $26.5 billion, the IRS abated 4 million civil penalties totaling $12.6 billion. More than 80% of civil penalties were assessed against…