Finding Real Life Solutions To Your Tax Problem
For many people with back taxes due, an important consideration is the time limit. With a simple online search, people can discover that generally the IRS has 10 years to collect back taxes from the time the initial tax liabilities were assessed. However, most people...
One of the most important benefits of a corporate structure is that it tends to shield the individuals involved with running the company from exposure to lawsuits and other legal problems. A Limited Liability Company (LLC), for example, limits liability – that is the...
It makes sense that anyone to whom you might owe money would be legally entitled to take some steps to recover that money. It also makes sense to most people that there are some limitations on what entities can do to recover money owed to them. Businesses, the...
Tax law is complicated for everyone involved, and perhaps the most complicated aspect of all the process of tax litigation is the appeals process. If you have been audited or have been through Tax Court with an unfavorable decision, it will be helpful for you to...
You have received the "Notice of Deficiency" from the IRS that there was some kind of deficiency or discrepancy in your recent tax audit. This letter gives the recipient 90 days to file a petition to contest the audit’s findings. If the petition is not submitted...
You might have a generous heart, willing and able to support those in need. Perhaps you have items cluttering your home and want to donate them to create space. You gift money to your loved ones at the end of the year. Or, maybe tax deductions are the impetus for your...
Many Americans experience increased stress and anxiety during the first few months of each new year. Gathering earning statements, calculating home office expenses and preparing to pay your tax bill can fill the approach of April 15 with an overwhelming sense of...
Mounting debt and troublesome financial situations can affect those in any income bracket. Unexpected changes such as a divorce or business dissolution can require life-altering reorganization. Meanwhile, the way you protect your interests could affect your tax...
To say 2020 has presented unique economic challenges may be the understatement of a lifetime. Along with health scares, political uprisings and shelter-in-place orders, many income earners experienced business closures. Whether temporary or long-term, the threat to...
If you've ever gotten money back after filing your tax return, you probably know what it's like to wait for the IRS to process your refund so you can take a vacation, pay other debts or invest in your future. Considering this year's shutdowns and July Tax Day, waiting...