If you’re a small business owner you may have experienced unpaid payroll tax problems at one time or another. Once you fall behind in making your payroll tax deposits it can be difficult to catch-up.
Some taxpayers who come to us seeking an IRS tax settlement also owe state income taxes. Each state has its own rules and regulations to resolve back taxes. For those taxpayers who have Georgia tax problems, you should know that Georgia has an Offer-in-Compromise (‘OIC”) Program that allows you to reach a tax settlement for an amount less than what you owe.
In April, the IRS began mailing letters to a small group of taxpayers whose past due tax accounts are being assigned to one of four private collection agencies. The program will expand to thousands of other taxpayers later in the spring and summer.
Are you in need of tax relief services? Here are 10 of the most frequently asked questions by taxpayers seeking IRS tax debt help.
If you’re a business owner with highly appreciated business or investment real estate there is a tax planning strategy you should know about before you consider selling your property. It is a Section 1031 “like kind” exchange.
During 2016 you may have made substantial gifts to your children, grandchildren or other family members as part of your estate planning. Or maybe you just wanted to help those close to you with some financial support.
Have you received a letter from the IRS and are afraid to open it? Don’t worry; many of these letters can be resolved easily and painlessly. Every year, the IRS sends millions of letters and notices to taxpayers requesting payment of taxes, notifying them of a change to their tax account, or to request additional information.
We’ve previously written about a law enacted in December 2015 that authorizes the Secretary of State to deny the issuance or renewal of passports to “seriously delinquent” taxpayers. The purpose of the law is to use travel as a way to enforce tax collections.
Now that the 2017 tax filing season has arrived you may benefit from the following tax savings opportunity.
When you file your tax return late or pay late, the IRS charges you late filing and late payment penalties plus interest. If you fail to resolve your tax debt quickly, penalties and interest can easily grow to be a significant portion of the total amount owed to the IRS.