Technology is Transforming the IRS: Three Big Changes You Need to Know About
Working with the IRS is a nightmare.
Long waits, agents that don’t know what they’re doing, “courtesy” disconnect— it’s about as fun as having a tooth pulled.
But new technology is on its way; some of it is already here, which should make dealing with the IRS at least a little less painful? Hopefully?
Let’s talk about what’s coming.
Take Back the Power from the IRS: How to Master the Art of the IRS Office of Appeals
Have you ever felt that the IRS treated you unfairly?
Have you ever felt the IRS has too much power when it's making decisions?
If so, there’s a path to justice that doesn’t involve courtrooms or exorbitant legal fees - it’s the IRS Independent Office of Appeals.
By appealing to an impartial third party, the appeals process is your strategic tool to challenge and potentially overturn IRS decisions.
Let’s delve into why understanding and navigating this process is crucial for taxpayers in a dispute with the IRS.
The IRS Audit Increase is Already a Disaster and The Middle Class is Still Getting Screwed
The IRS got a whole bunch of money from the so called “Inflation Reduction Act,” to target "the wealthy," but a recent audit by the Treasury Inspector General for Tax Administration (TIGTA) found that IRS audits still unfairly targeted the middle class despite assurances from the IRS that they wouldn’t.
IRS AUDITS FOR THE WEALTHY ARE ABOUT TO GO CRAZY
🚨 Accountants Alert: The IRS is gearing up for a major overhaul in tax enforcement, targeting the wealthy and large corporations. By 2026, audits for households with incomes above $10 million will increase by 50%, and corporate audits are expected to almost triple.
If you're an accountant, and you serve high-income taxpayers, this is what you need to know to keep your clients in compliance.
IRS Warns: Beware of "OIC Mills" that Promise Offer in Compromise for Everyone
Every day on the radio, tax debt companies shout with confident belligerence that anyone can resolve their tax debt for "pennies on the dollar." Sound too good to be true?
It is.
Understanding IRS Statutes of Limitations: How Long Do You Have to Worry?
The short answer is…not forever…err sometimes forever?
It’s 5:00pm on April 15 and you’re excited!
You filed your taxes for the year and there’s a sense of relief…at least at first because you wake up at 3:00am and start ruminating. You think you may have overlooked income you received last year or that you really stretched on taking what, now that you think about it, might be an unjustified deduction.
Filing for Extension on Filing Your Taxes is not an Extension to Pay What You Owe
As an attorney specializing in IRS and state tax debt, I see more than my fair share of the more than 20 million Americans hitting the 'tax snooze button' each year, opting for extensions on their filings.
This year, with record-high extension requests likely, understanding the strategic implications of these decisions is crucial for individuals, businesses, and their advisors.
Navigating FICA Taxes: Demystifying Your Payroll Obligations
Are you confident in navigating the maze of FICA taxes, or are you lost in its glorious complexity?
When you're the business owner doing the paying, FICA payroll taxes are supremely important. If you don’t pay the IRS, you’ll owe a significant portion of it personally, even though it’s a business tax.
Here’s what you need to know.
It's Official, You Owe Tax Debt: A Roadmap to Clarity
The moment arrives unannounced, often unwelcome – a notice from the IRS or state tax authority, signaling you've entered the realm of tax debt.
What’s the deal with tax debt, anyway?
Navigating Payroll Tax Debt: A Guide for Business Owners and Tax Professionals
As businesses strive to flourish in today’s competitive market, understanding and complying with payroll tax obligations is paramount. Payroll taxes, can become a significant burden for businesses that are unprepared.
This article aims to shed light on how businesses incur payroll tax debts, identify common pitfalls, and discuss the implications of failing to comply with payroll tax obligations to equip business owners and professionals who have clients with payroll, especially accountants, with the knowledge to navigate these challenges effectively.
An Underutilized Approach to Tax Debt: The Comprehensive Guide to the Partial Pay Installment Agreement
Most tax professionals have heard a thousand times over about tax settlements, also referred to as the Offer in Compromise (“OIC”), because that’s what their clients ask about when they have tax debt.
Clients focus on the OIC because that's what the 800 pound gorilla tax firms scream about on radio, TV, and print advertisements to reel in unsuspecting taxpayers only to take their hard earned money and leave them disappointed and out of luck.
The Top 5 Misconceptions About Tax Debt Resolution
Tax debt resolution is a lifesaver when you're in dire financial straits with the IRS. Yet, this field, vital as it is, faces a ton of misconceptions.
These myths deter taxpayers from seeking help, exacerbating their tax woes.