Tax Relief Blog

Tax Services by Mike Habib, EA: From Preparation to Resolution

March 1, 2024 | Mike Habib, EA

Comprehensive Tax Services: From Preparation to Resolution

Tax services by Mike Habib, EA encompass a wide range of professional assistance related to tax compliance, planning, and dispute resolution. Whether you’re an individual taxpayer or a business owner, navigating the complex world of taxation often requires expert guidance. This article explores four key areas of tax services: tax preparation for individuals and businesses, IRS and state tax audit representation, back tax debt resolution, and payroll 941 employment tax representation.

Get professional tax help by calling us at 1-877-78-TAXES [1-877-788-2937].

Navigating IRS Bank Levies, Back Taxes, and Unfiled Tax Returns

February 23, 2024 | Mike Habib, EA

Facing the IRS can be a daunting experience, especially when dealing with unpaid back taxes, unfiled returns, and the looming threat of bank levies. For many, the stress and confusion surrounding tax debt can feel overwhelming. However, it’s crucial to understand that there are avenues available to navigate this complex terrain. In this comprehensive guide, we’ll delve into the intricacies of IRS bank levies, the repercussions of unpaid back taxes and unfiled returns, and the invaluable role of professional representation in resolving these issues.

Tax levies, liens representation – getting professional tax relief help

February 9, 2024 | Mike Habib, EA

When the Internal Revenue Service (IRS) imposes a wage or bank levy, it can create a significant financial strain on individuals and businesses alike. A levy is a legal seizure of property to satisfy a tax debt, and when it comes to wages or bank accounts, the impact is direct and immediate. However, there are avenues for obtaining relief from these levies, and understanding these options is crucial for those affected.

Get professional representation help today 1-877-78-TAXES [1-877-788-297].

Understanding IRS Levies

How to Get the California Franchise Tax Board to Accept Your Offer in Compromise

January 26, 2024 | Mike Habib, EA

The Offer in Compromise (OIC) is a powerful tool for taxpayers who are unable to pay their full tax liability. It allows taxpayers to settle their tax debt for less than the full amount owed, potentially saving them significant amounts of money. However, getting an OIC accepted by the California Franchise Tax Board (FTB) can be a complex and challenging process. This article will guide you through the steps to increase your chances of getting your OIC accepted by the FTB.

Get professional help today 1-877-78-TAXES [1-877-788-297].

How to Get Your Offer in Compromise Accepted by the IRS

January 12, 2024 | Mike Habib, EA

An Offer in Compromise (OIC) is a lifeline for taxpayers who are unable to pay their tax debt in full. It’s an agreement between a taxpayer and the Internal Revenue Service (IRS) that settles the taxpayer’s tax liabilities for less than the full amount owed. However, getting an OIC accepted by the IRS is not a walk in the park. The IRS accepts only a fraction of the OIC applications it receives each year. This article provides a roadmap on how to increase your chances of getting your OIC accepted by the IRS.

Get professional help today 1-877-78-TAXES [1-877-788-297].

Navigating EDD Tax Audits: The Benefits of Professional Representation

January 7, 2024 | Mike Habib, EA

EDD audit representation

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California. An EDD tax audit focuses on ensuring that businesses comply with CA state payroll tax laws, which can be complex and multifaceted. This article will explore the intricacies of EDD tax audits and the significant advantages of having professional representation during the process.

We handle all of the intricate details of the audit process and negotiation to free you up to do what you do best – run your business. Get a free case evaluation today at 877-788-2937.

Employment 941 Tax Problems and How an Enrolled Agent Can Help

December 29, 2023 | Mike Habib, EA

Employment taxes can be a complex area for businesses, especially when it comes to Form 941, the Employer’s Quarterly Federal Tax Return. This form is used to report income taxes, social security tax, or Medicare tax withheld from employee’s paychecks, and to pay the employer’s portion of social security or Medicare tax. However, mistakes can happen, and when they do, they can lead to significant tax problems. This is where an enrolled agent can step in to help.

Understanding 941 Tax Problems
Several issues can arise with Form 941. These can include failing to file or pay on time, making errors on the form, or not depositing taxes when due. These mistakes can result in penalties and interest, compounding the amount owed.

We assist in business employment 941/940 payroll tax compliance and representation. Call us today at 1-877-78-TAXES [1-877-788-2937].

Top 10 Tax Planning Concepts for W-2 Earners

December 15, 2023 | Mike Habib, EA

Top 10 Tax Planning Concepts for W-2 Earners

As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know.

1. Understanding Your W-2 Form
Your W-2 form is a crucial document that outlines your income and the taxes withheld from your paycheck. Understanding each box on this form can help you accurately file your taxes and avoid potential issues with the IRS.

2. Adjusting Your Withholdings
If you consistently owe money at tax time or receive a large refund, you may need to adjust your withholdings. By ensuring the correct amount is withheld from each paycheck, you can avoid a large tax bill or loaning the government money interest-free.

We assist individual taxpayers with tax compliance, preparation, planning and representation. Call us today at 1-877-78-TAXES [1-877-788-2937].

C Corporation Tax Savings: Frequently Asked Questions

December 1, 2023 | Mike Habib, EA

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings.

What is a C Corporation?
A C Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity. C Corporations, named for the subsection of the IRS code that governs them, have a distinct tax structure that differs from other business entities.

We assist in business tax compliance, preparation, planning and representation. Call us today at 1-877-78-TAXES [1-877-788-2937].

S Corporation Tax Savings: Frequently Asked Questions

November 17, 2023 | Mike Habib, EA

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings.

What is an S Corporation?
An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements. The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through to the owners’ personal income tax returns, thereby avoiding double taxation.

We assist in business tax compliance, preparation, planning and representation. Call us today at 1-877-78-TAXES [1-877-788-2937].