What is the IRS Offer in Compromise Program?
We all have a responsibility to pay our taxes each year. But what happens when the amount you owe has spiraled out of control?
22Jul
7Jul
Documenting Automobile Mileage For An IRS Audit
Often in an IRS audit, the tax examiner will ask for your mileage log at the beginning of the audit. If you do not have a mileage log, what should you do?
13Jun
Still Haven’t Filed Your Taxes?
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.
28Mar
New Tax Law Doubles Estate Tax Exemption
Leading up to the passage of the Tax Cuts and Jobs Act, there was considerable discussion about repealing the estate and gift tax. That didn’t happen! But Congress did double the value of an estate that is excluded from being taxed,
20Jan
How Long Does The IRS Have To Assess Tax?
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.
22Nov
Unpaid Payroll Tax Problems Resolved For Business Owner
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.
14Nov
IRS Expanded Payment Plans Help Resolve Back Taxes
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
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?
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?
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.
