Tax Relief Blog

IRS Bank Levy Release – Taxpayer Advocate

February 14, 2019 | Mike Habib, EA

In Nina Olson’s recent report to Congress, the head of National Taxpayer Advocate, addressed challenges and concerns facing US taxpayers when dealing with the IRS.

I will only highlight one of her concerns which is releasing IRS bank levies, that’s when the IRS seizes bank accounts of delinquent taxpayers with unpaid back taxes or unfiled tax returns.

In the report to Congress, Nina Olson discussed the impact of the recent government shutdown. A major point of discussion before and during the shutdown was the permissible scope of IRS levies, bank accounts, wages and other enforcement activities. Under the Anti-Deficiency Act, federal funds may not be spent in the absence of an appropriation except where otherwise provided by law. One exception provided by law is for “emergencies involving the safety of human life or the protection of property”. Although not stated in the law or Justice Department guidance, the IRS Office of Chief Counsel has interpreted the “protection of property” exception to apply only to the protection of government property and not to taxpayers’ property such as bank accounts.

Tax Attorney VS Enrolled Agent VS CPA – What’s the Difference? Cost & Fees

February 4, 2019 | Mike Habib, EA

Looking to get your taxes and finances in order before the IRS comes knocking on your door? If so then rest assured that you are most definitely not alone. As we are now in tax season, taxpayers all across the country are starting to panic, dig out their receipts, and attempting to get their accounts in order as soon as possible. A select few however, are cool, calm, and collected. This is because those select few have made the wise decision to hire a professional tax expert (EA, CPA, attorney) to take care of their finances and accounts for them. When selecting a tax professional however, it’s important that you understand the choices available to you, and that you know the differences. Many people often confuse CPAs with tax attorneys and enrolled agents. While the three do share some similarities, in reality they are very different. To help show you what we mean, we’ll now look at the key differences between all three.

Get a free case evaluation today by calling us at 877-788-2937.

IRS-FTB-EDD-CDTFA-BOE Tax Audit, Back Tax, Representation, Resolution Cost and Fees

January 24, 2019 | Mike Habib, EA

The first thing you need if you are facing IRS-FTB-EDD-CDTFA-BOE Tax Audit, or owe back taxes and need a settlement option, is to seek a tax representation firm [tax resolution firm] that specializes in resolving tax problems and controversy matters. Then you can inquire about the fees and cost of service.

Only an EA enrolled agent, tax attorney / lawyer, or CPA certified public accountant can represent you as a power of attorney.

BEWARE of the sales organization companies that heavily advertises on TV, Radio and Internet. Don’t fall for scams! Read our popular beware report HERE.

Not all tax or law firms specialize in audits, appeals, back tax settlement relief, resolution and representation.

Hire and retain the right firm from the first time, understand the fee, cost structure, if hourly or flat fee.

Our tax resolution firm is a tax representation firm, we represent taxpayers before ALL administrative levels of the IRS-FTB-EDD-CDTFA-BOE.

Get a free case evaluation today, or a second opinion, call us at 877-788-2937.

Tax Relief – Reasons to Seek Tax Negotiation and Representation Help

January 17, 2019 | Mike Habib, EA

It’s once again time for us to start thinking about getting our taxes and finances in order for the latest financial year. We know, we know, it quickly creeps up on us all and if you aren’t careful you could potentially wind up getting caught out by the IRS. Nobody enjoys paying tax, but if the IRS does indeed believe they are owed tax payments, you’d better believe that they’ll do everything in their power to get their money. The good news is that if you do need to seek tax relief you can hire professionals. In fact, many agree that it always pays dividends to hire professional tax experts to offer you tax relief, tax negotiation, and tax representation help and advice. There are many reasons why people seek tax relief and representation services, which is why we’re going to take a look at a few potential scenarios below.

Get a free case evaluation by calling us at 877-788-2937.

CLIENT LETTER EXPLAINS RECENT DEVELOPMENTS THAT MAY AFFECT A CLIENT’S TAX SITUATION

January 11, 2019 | Mike Habib, EA

Dear Client:

The following is a summary of important tax developments that occurred in October, November, and December of 2018 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 of favorable developments and to minimize the impact of those that are unfavorable.

Business meals. One of the provisions of the Tax Cuts and Jobs Act (TCJA) disallows a deduction for any item with respect to an activity that is of a type generally considered to constitute entertainment, amusement, or recreation. However, the TCJA did not address the circumstances in which the provision of food and beverages might constitute entertainment. The new guidance clarifies that, as in the past, taxpayers generally may continue to deduct 50% of otherwise allowable business meal expenses if:

The expense is an ordinary and necessary expense paid or incurred during the tax year in carrying on any trade or business;
The expense is not lavish or extravagant under the circumstances;
The taxpayer, or an employee of the taxpayer, is present at the furnishing of the food or beverages;
The food and beverages are provided to a current or potential business customer, client, consultant, or similar business contact; and
In the case of food and beverages provided during or at an entertainment activity, the food and beverages are purchased separately from the entertainment, or the cost of the food and beverages is stated separately from the cost of the entertainment on one or more bills, invoices, or receipts.

IRS Tаx Audit Representаtion

January 7, 2019 | Mike Habib, EA

Who is best to Represent me in а Tаx Audit?

Why cаn’t I represent myself? Why cаn’t I hаve my tаx prepаrer represent me? Cаn а relаtive who is professionаlly licensed аs аn EA, CPA, or аttorney, represent me?

These аre excellent questions thаt hаve to be аnswered when you receive аn IRS аudit notice. This is аlso true if you receive а correspondence letter from the IRS requesting аdditionаl documentаtion to support just а few items on your return!

Can I be held [Personally Responsible] for my company’s Payroll Taxes?

December 21, 2018 | Mike Habib, EA

As a business owner, officer, controller, or bookkeeper, you will no doubt be well-aware of the various roles and responsibilities you need to carry out on a daily basis to keep your business ticking over. In an effort to cut costs, or sometimes through sheer stubbornness, business owners with no prior tax or accounting experience will often also try to handle the taxes and accounting issues of their companies, rather than hiring professional tax services. Needless to say, this is a very time-consuming job, and it can also be stressful if you don’t know what you’re doing. You may think that by not hiring a tax lawyer or tax professional enrolled agent, CPA, attorney-in-fact to help you, that you are saving money, yet in reality the exact opposite is true. Take trust fund payroll taxes for example. If you fail to handle them correctly, you could be held personally responsible for your company’s payroll taxes.

Get a free case evaluation at 877-788-2937.

IRS Summons Help – What is a summon – Everything You Need to Know form 6637

December 14, 2018 | Mike Habib, EA

If you want an easy life, it’s best to always stay on the right side of the IRS. Owing money to anybody can be stressful enough, but when it comes to IRS tax debts, the IRS is truly relentless in their pursuit of what they deem to be rightfully theirs. This is why it’s now a better time than ever to hire an IRS power of attorney, enrolled agent, CPA, tax lawyer as your tax professional. Professional tax services are in high demand, and while they certainly aren’t free, these services more than pay for themselves very quickly, both financially and emotionally. One thing no taxpayer wants to hear is that they’ve received an IRS summons, form 6637. If you’re not familiar with IRS summons, once you’ve finished reading this article, all will become clear.

Get tax help and professional representation today at 877-788-2937.

What’s the Difference Between an IRS Revenue Agent and a Revenue Officer?

December 4, 2018 | Mike Habib, EA

Life can be difficult enough at times, without having to worry about incurring the wrath of the taxman. When it comes to your books and accounts, you should always adhere to the rules laid out by the IRS. IRS tax representation services, EA, CPA, Lawyer, are highly sought-after in the tax-business world, and we can understand why. When dealing with the IRS, or other seemingly trivial tax matters, it always pays to know as much information as possible. One common misconception in the world of taxes, and one which IRS tax power of attorneys, enrolled agents, CPAs, lawyers, are often hired to help address, is the confusion between an IRS revenue agent -RA and a revenue officer -RO. The two, though similar as far as damaging power, are not the same.

Get professional representation today at 877-788-2937.

Employment Tax Representation: High-Stakes Tax Problem

December 1, 2018 | Mike Habib, EA

For business owners, CEOs, CFOs, one of the most common issues is tax problems that deal with your payroll. Unpaid 941 and 940 payroll tax issues are quite common and with the IRS pursuing their collections vigorously, you will need the best in employment tax representation to keep out of trouble. For businesses that have employees, it is highly recommended that you get assistance from a professional tax firm. They can provide the best in employment tax representation that helps keep your business in-line with federal and state tax laws.

Both the 941 and 940 tax returns need to be filed properly if your business is going to avoid potential issues that might otherwise bring in an audit. This is why it is important to understand the importance and difference between the 941 and 940 forms.

Get a free case evaluation today at 877-788-2937. All 50 states.