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Due Date Postponement for IRS Filing, Payment, and Other Actions as a Result of COVID-19

By |April 15th, 2020|Categories: IRS Collections, Tax Penalties, Tax Relief, Tax Returns, Taxes|

On April 9, 2020, the IRS issued Notice 2020-23 which has added to the due date postponement of filing and payment obligations to include those due on or after April 1, 2020 and before July 15, 2020. This notice expands on Notices 2020-18 and 2020-20.


Employers Required To Provide Sick and Family Leave (COVID-19)

By |March 25th, 2020|Categories: Boca Raton, Employee Benefits, Payroll Taxes|

The COVID-19 epidemic has created situations where employees are not able to work because they tested positive for the virus or have been quarantined as a result of a governmental order. It has also caused parents to miss work because their children’s school has closed due to the outbreak and there is no one to watch the kids.


Inherited IRA Required Minimum Distribution (RMD) Rules

By |March 18th, 2020|Categories: Retirement Plans, Tax Planning|

For some time, there have been lawmakers who have expressed their displeasure with the so-called stretch IRAs.These IRAs have permitted certain beneficiaries, such as a young child or a grandchild, to use the Inherited IRA RMD rules to extend the payout period for decades.


Owe The IRS Money You Can’t Pay?

By |March 4th, 2020|Categories: IRS Collections, Tax Problem Help, Tax Resolution Strategy|

Sometimes it happens by accident. You didn’t withhold enough from your paycheck during the year and find you owe the IRS money when it’s time to file your tax return.Or maybe you came into some money, spent it, and didn’t realize that you needed to pay taxes on your windfall.


IRS to Increase Visits to High-Income Taxpayers for Failure to File a Tax Return

By |February 26th, 2020|Categories: Boca Raton, IRS Collections, Tax Returns|

As part of an effort to ensure compliance and fairness, the Internal Revenue Service recently announced that it will increase efforts to visit high-income taxpayers for failure to file a tax return for one or more prior years.


Don’t Miss Your Opportunity for a Collection Due Process Hearing

By |February 21st, 2020|Categories: Back Taxes, IRS Appeals, Tax Problem Help|

As a result of the 1998 IRS Restructuring & Reform Act taxpayers were given Collection Due Process Hearing rights which they must be advised of before enforced collection action can occur.


Do You Have Back Tax Returns You Need to File?

By |February 19th, 2020|Categories: Tax Penalties, Tax Returns|

Sometimes life just gets in the way. You feel too busy or have experienced a life-changing event such as a divorce, illness, job loss, or death in your family that sidetracked you from timely filing your tax return.


Did You Receive an IRS Audit Letter?

By |February 12th, 2020|Categories: IRS Audit, IRS Notices|

Have you received an IRS audit letter or notice and don’t know what you should do next?  Sometimes the response you need to provide might be simple, while other times it can be extremely complex.


A Cost Segregation Study Can Accelerate Your Depreciation Deductions

By |January 29th, 2020|Categories: Tax Deductions, Tax Planning|

You purchased several rental properties during the year and are looking for ways to reduce the income generated by the buildings. A cost segregation study may provide the tax benefits you want.


Federal Tax Levy: What is the Difference Between a Regular and Continuing Levy

By |January 22nd, 2020|Categories: Tax Levy, Tax Problem Help|

A federal tax levy is the seizure of a taxpayer’s property used by the IRS to resolve a back tax debt. However, before the IRS is permitted to levy a taxpayer’s assets the taxpayer must be sent written notice and the right to a Collection Due Process hearing.

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