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So far Staff has created 22 blog entries.
13Jun

Still Haven’t Filed Your Taxes?

By |June 13th, 2018|Categories: Installment Agreement, Penalty Relief, Tax Debt, Tax Penalties|

If you have been procrastinating about filing your 2017 tax return or have unfiled tax returns for prior years,  you need to consider the consequences, such as penalties, interest, and aggressive IRS collection actions.

20Jan

How Long Does The IRS Have To Assess Tax?

By |January 20th, 2018|Categories: IRS Audit, Statute of Limitations|

Taxpayers often want to know how long the IRS has to audit and assess additional tax on their tax returns.  For taxpayers who reported all their income, the IRS has three years from the date of filing the returns to examine them.

14Nov

IRS Expanded Payment Plans Help Resolve Back Taxes

By |November 14th, 2017|Categories: Back Taxes, Installment Agreement, IRS Collections|

The IRS has the authority to enter into payment plans with taxpayers who owe back taxes. In a effort to streamline the processing of these agreements the IRS continues to test expanded criteria for taxpayers requesting installment agreements.

9Nov

What Business Owners Should Know About The Tax Cuts And Jobs Act

By |November 9th, 2017|Categories: Tax Planning, Tax Reform|

This is part 2 of a 2-part series on the proposed Tax Cuts & Jobs Act and generally covers the provisions applying to small businesses and self-employed taxpayers.

8Nov

How Will The Tax Cuts And Jobs Act Impact You?

By |November 8th, 2017|Categories: Tax Planning, Tax Reform, Taxes|

This is Part 1 of 2 in a series on the proposed Tax Cuts and Jobs Act. This part covers the provisions that apply to individual taxpayers. Part 2 covers the small-business provisions.

1Nov

Is Your Interest Expense Tax Deductible?

By |November 1st, 2017|Categories: Interest Expense, Tax Deductions, Tax Planning|

When borrowing money taxpayers often ask if the interest will be tax deductible.  The answer to the question can be complicated  and you’ll learn that not all interest you pay is deductible. The rules for deducting interest depend on whether you use the loan proceeds for personal, investment, or business purposes.

20Oct

Don’t Incur Costly Tax Penalties

By |October 20th, 2017|Categories: Penalty Relief, Tax Penalties|

Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination.

29Jun

National Taxpayer Advocate Issues Mid-Year IRS Report Card

By |June 29th, 2017|Categories: Taxes, Taxpayer Advocate|

The National Taxpayer Advocate (NTA) Nina Olson released her mid-year report to Congress. It presents a review of the 2017 filing season and identifies the top issues the Taxpayer Advocate Service (TAS) will address during the upcoming year.  

18Feb

You Can Still Make An IRA Contribution For Last Year

By |February 18th, 2017|Categories: Retirement Plans, Tax Deductions, Tax Returns|

Taxpayers wanting to make an IRA contribution for 2016, have until the unextended due date for filing their 2016 return, which is April 18, 2017. Contributing to an IRA has several benefits, the most important one being that you are saving for your retirement.

26Aug

The Taxability of Canceled Debt

By |August 26th, 2016|Categories: Boca Raton, Tax Debt|

You may not always be required to pay back your debts in full.  It is not wholly uncommon for a debt to be forgiven or otherwise discharged – a creditor may fail to collect, discontinue attempts to collect or outright forgive your debt for whatever reason – thus leading to a cancellation of the debt in the amount specified.

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