Posts about

tax problems

5 Expert Tips to Navigate Tax Season Stress-Free

Tax season has rolled around again, and with it comes the inevitable dread that can accompany it. Many of us fear making even a small mistake and facing consequences from the IRS. But fear not! Accountants are here to share their top tips to...

Deadline Looms: IRS Urges Businesses to Rectify Employee Retention Credit Claims

March 22 Deadline

With a key March 22 deadline rapidly approaching, the Internal Revenue Service renewed calls for businesses to review the Employee Retention Credit (ERC) guidelines to avoid future compliance action for improper claims....

IRS Targets Ultra-Rich Tax Dodgers: Crackdown on Unfiled Returns Underway

IRS IS CRACKING DOWN

The IRS has made it clear: they're targeting the ultra-rich who've been skipping out on filing their tax returns. With a focus on individuals earning over $400,000 annually, the agency is on a mission to recoup hundreds of...

IRS Sets Sights on Business Jets: Ensuring Tax Compliance for High-Income Individuals

Got some news from the IRS that might interest you. They're getting ready to conduct audits on business aircraft to ensure they're being used in compliance with tax laws. This move is part of their ongoing efforts to improve tax compliance among...

IRS Resumes Sending Collection Notices After Pandemic Pause

Starting this January, the IRS gears up to send automated collection notices and letters to individuals with tax debts predating 2022 and to businesses, tax-exempt organizations, trusts, and estates with debts before 2023. There are exceptions...

Avoid a Surprise and check your withholdings!

As we hurtle toward the grand finale of 2023, the IRS is doing its best impression of a friendly, not-so-subtle nudge, urging taxpayers to take a look at their tax withholding. Why, you ask? Well, they want to prevent the kind of surprise party...

6 Crucial Tips to Avoid an IRS Audit

Getting audited by the Internal Revenue Service (IRS) can be a stressful and time-consuming experience. To help you steer clear of this potential nightmare, I'm here to offer some valuable advice from my years of experience as an accountant. While...

What is Injured Spouse Relief

Injured spouse relief is a program that provides tax relief to spouses who have had to pay out-of-pocket expenses for qualifying medical expenses. These expenses can be related to the injury or illness of either spouse and can include things like...

Payroll Tax Debts And Personal Liability

Employers have a number of legal and financial obligations with regard to their employees. One such obligation is the payment of payroll taxes. Failure to pay these taxes can result in significant penalties and interest, as well as personal...

Innocent Spouse Relief Part 3 – Equitable Relief, 6015(f)

In our last blog post, we talked about Innocent Spouse Relief Part 2 – Injured Spouse Relief. This week, we will be discussing Equitable Relief, 6015(f). As the name suggests, this type of relief is meant to provide fairness in tax cases where one...