People from every income level and walk of life have suffered the effects of the global pandemic. With shutdowns, shelter-in-place orders and changes in consumer habits, financial constraints are a key consideration for many Americans – and just before Tax...
Finding Real Life Solutions To Your Tax Problem
Year: 2020
Tax penalty assessments and potential recourse
Though you know you must pay taxes, you probably try to conserve your money as much as possible. Fiscally responsible though you may be, the Internal Revenue Service (IRS) calculation of additional fees often augments California's significant tax rate.Due to the...
What do taxes have to do with traveling?
The current global health crisis affected every area of life. Temporary business closures, layoffs and distance learning put many incomes at risk, the natural result of which created complicated financial situations for many Californians.Travel bans have reduced...
Discharging taxes in bankruptcy after a substitute for return
You can't escape from death and taxes. However, you may be able to discharge certain tax liabilities through bankruptcy.Most tax debt can be discharged if you have filed tax returns for at least two years before seeking bankruptcy protection. However, if the IRS has...
3 tips for handling a face-to-face IRS audit
Many people dread filing their taxes. Even if taxpayers fill everything out they’re supposed to, the IRS may still dispute their submission, resulting in an audit. Depending on the circumstances, this may require taxpayers to go head-to-head with the agency. Audits...
Coronavirus COVID-19 Q&A with Law Offices of Robert T. Leonard, APC
A message from , Attorney & CPA (inactive) "During this unprecedented time the Government is taking steps to help taxpayers. In addition to the $2 trillion stimulus bill the IRS has relaxed its guidelines and conditions for its premier...
Coronavirus COVID-19 Q&A with Law Offices of Robert T. Leonard, APC
A message from , Attorney & CPA (inactive) "During this unprecedented time the Government is taking steps to help taxpayers. In addition to the $2 trillion stimulus bill the IRS has relaxed its guidelines and conditions for its premier...
IRS adjusts tax policies amid rough economy
Countless Americans are facing financial turmoil. According to recent reports, more than 10% of workers between March 17 and April 2 filed for unemployment in the last three weeks. Sadly, many of them weren't preparing for an economic downturn, as market predictions...
Business ownership and a potential trust fund recovery penalty
The responsibilities associated with owning and operating a business are exponential. Whether you disagree with your partner, face an employee dispute or experienced a profit decrease since this quarter last year, every decision you make in your position can relate to...
IRS ramps up efforts with high earners who fail to file returns
The Internal Revenue Service announced its plans in February to make face-to-face visits with high-income individuals who haven’t submitted one or more tax returns in recent years.The IRS says it will target those making more than $100,000 per year who haven't...