Finding Real Life Solutions To Your Tax Problem
Although an appeal is one of the more commonly known options when going against the findings of an audit, there are alternatives. These can often include a petition before the Tax Court, offer in compromise, installment agreement, or bankruptcy. Option #1: Tax Court...
The Internal Revenue Service (IRS) may have flagged your account for an audit through a computer screening, another related examination, or a random selection. Whatever the reason for the attention to your account, the fact that the IRS is giving it a closer look is...
A written contract signed by both parties clearly stating the worker is an independent contractor should suffice to classify that worker as a contractor and not an employee, right? It seems like a reasonable conclusion. Afterall, both parties agreed to this...
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...
“But I’m not a criminal?” “I didn’t mean to deceive the IRS.” “I just didn’t understand the relevant tax laws.” These statements and many others like them are uttered to the IRS every year. And in many cases, these statements are true. It is extremely common for...
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...
For many people with tax arrearages, there could seem like no way out. Especially if you in a tough financial situation where you can’t pay your tax debts, it might seem like an impossible situation. One of the best options for people in your situation is an offer in...
For most businesses, the idea of any kind of audit – especially a tax audit – is a tremendous burden. It can be a costly resource burden to prepare for an audit, and any problems uncovered by the audit can result in serious, potentially expensive, repercussions. It is...
When it comes to taxation for employers, one of the most important determinations involves the classification of workers. There are significant implications for classifying a worker as either an employee or private contractor. The risk comes into play when The...
Anyone who has lived in California for any length of time knows that the state has extraordinarily high taxes, and the state’s Franchise Tax Board (FTB) is extraordinarily enthusiastic about collecting. One way the state ensures it is making top dollar is through...