Category: Blog Archive
Looking into making payment arrangements with the IRS in Los Angeles? Should you call a tax attorney in Los Angeles? Navigating this long tax season can be an ordeal for many, and discovering you owe a sizable amount to the IRS only intensifies the stress. What happens when you can’t settle that amount immediately? Fortunately,
Facing IRS Tax debt or an IRS tax audit due to errors made by your tax preparer? Here’s a comprehensive guide on steps to take to protect yourself when your tax preparer messes up your taxes and you face IRS tax debt or an IRS tax audit. Filing taxes is critical to IRS tax compliance,
Business owners who cannot pay their tax debt immediately upon request may be able to set up a payment plan through the IRS. An IRS payment plan allows taxpayers to pay their tax debt via regular monthly payments. The amount your business pays is based on how much your business owes and how much time
As a business owner it’s crucial to withhold payroll taxes from your employee’s wages. It is equally important to also include social security, Medicare, and federal income taxes. If you are late in depositing payroll taxes, you could face severe penalties from the IRS. The IRS is known for being very aggressive in collecting tax
When facing issues or litigation with the IRS, the distinction between different forms and processes is of the utmost importance. This is especially true if you are an employer handling the task of paying your employees as well as paying payroll taxes. Forms 940 and 941 are key IRS forms that need to be completed
The IRS expects all taxpayers to file and pay their taxes on time and in full. If an individual, couple, or business fails to do this, penalties and interest will be applied to the amount owed. If the amount remains unpaid, these penalties and interests can compound and increase the amount that you are liable
Many taxpayers find themselves in a difficult situation – they owe money to the IRS, but they don’t have the money to pay their balance upfront. Fortunately, the IRS offers a solution if you can’t pay them in full: a payment plan, or an installment agreement. According to the IRS, nearly 2.4 million new installment
Many people owe money to the IRS during tax season. However, financial hardship can make it difficult to pay a lump sum right away. Therefore, the IRS offers options to help eliminate financial stress and help taxpayers make payments that work for their budgets. An offer in compromise is one option that offers significant tax
Did you know that more than 70% of all taxes collected in the US come from payroll taxes? So it is no surprise that the IRS and the Department of Justice (DOJ) take payroll taxes very seriously and make payroll tax enforcement their number one priority. Yet, it can be tempting for small business owners
Millions of people each year have unfiled tax returns. If you have IRS tax debt, you can be sure that the IRS wants their money. However, even if you’re owed money, you still need to file your tax returns. It’s always better to file your taxes late than not to file them at all. The
