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Remember those 1099s, W-2s, K-1s and other informational forms you receive each year reporting your interest, dividends, sales, wages, retirement income, IRA withdrawals, health insurance forms and other items having to do with your tax return? Well, the IRS also gets this information and feeds it into its computers. Thanks to modern computer technology, the …
If you could not complete your 2016 tax return by the normal April filing due date and are now on extension, that extension expires on October 16, 2017. Failure to file before the extension period runs out can subject you to late-filing penalties. There are no additional extensions (but see below for FEMA designated disaster …
Occasionally, the IRS will decide to take a closer look at the returns filed by individuals or businesses. If the agency moves forward with an audit, the taxpayers will be required to provide much more complete information to the IRS about issues where there may be questions about income or deductions claimed by the taxpayer. The …
If you have a tax liability problem, your tax situation can spiral out of your control before you realize it has happened. If you owe the IRS more than what you can afford, and if you don’t act to resolve it right away, you can find yourself in major trouble. Some people think that tax …
Do You Owe More Than $20,000 in Taxes? – Seek a Tax Resolution Specialist Read More »
On Friday, the IRS updated its page on health care reporting requirements to inform taxpayers and tax practitioners that it will not accept electronically filed 2017 individual income tax returns unless taxpayers indicate that they and everyone on their return had health care coverage, qualified for an exemption from coverage, or will make a shared-responsibility …
IRS will enforce health coverage reporting on 2017 returns Read More »
It seems like yesterday when the IRS suspended bank levies, liens, and wage garnishments at the onset of the COVID-19 pandemic. Now, that honeymoon is over, and the IRS will be as money-hungry as ever. On the other side of that coin, there may be no better time than now to take advantage of tax relief programs. I’ll explain how …
THE IRS COVID-19 HONEYMOON FOR DELINQUENT TAXPAYERS IS OVER: WHY TO ACT NOW IF YOU OWE Read More »
If you have a tax liability problem, your tax situation can spiral out of your control before you realize it has happened. If you owe the IRS more than what you can afford, and if you don’t act to resolve it right away, you can find yourself in major trouble. Some people think that tax …
How many years has the professional been in business? You want to make sure that the professional you select has the skills, knowledge, and experience to get you the results that you want. How many taxpayers’ IRS problems have the professional personally solved in the last year? Representing taxpayers with IRS problems is a highly …
The storm is coming. American consumers will be filing personal bankruptcies in record numbers by the end of 2020. That is the projection from bankruptcy attorneys, bankers, and other experts who project that the COVID-19 era will lead to a historic financial tsunami. “Tsunami, hurricane, flood, bloodbath … there are a variety of words you …
