Here’s What the IRS Can Do to Your Business if You Don’t Pay Your Payroll Tax
Payroll Tax Problems? Here’s What the IRS Can Do to Your Business — and Why Now Is the Time to Fix It If you’re a self-employed business owner who’s behind on payroll taxes, you’re not the only one — but you’re in dangerous territory. The IRS treats unpaid payroll taxes as one of the most […]
Imagine Not Being Able to Attend Your Father’s Funeral Because of the IRS
This is a common occurrence unfortunately. This gentleman came to our office heartbroken. His father died in Mexico and he couldn’t fly down because the IRS had revoked his passport. Can they really do that? Yes and they do it quite frequently. If you owe $60,000 or more and are not in a payment plan […]
How the IRS can take away your Passport
The IRS is responsible for collecting taxes in the United States. One of the tools at its disposal is the ability to revoke the passports of taxpayers who owe significant tax debts. While this authority has been in place for a few years, it has received increased attention recently as the IRS has increased enforcement […]
Imagine Not Being Able To Pay Payroll
Imagine it’s Friday morning. Your team has worked hard all week, and you’re ready to hit “send” on payroll. But when you log in to your bank portal, you see a balance of zero. Your heart sinks. The IRS has officially levied your bank account because of those unresolved back tax issues. This isn’t just […]
How to Get the Best Possible Deal with the IRS
Facing an IRS tax liability of $100,000 or more as a business owner is a critical situation that demands specialized expertise, not a routine accounting solution. The high-stakes nature of this debt means you’re at risk of serious enforcement actions that can destabilize your business, from bank levies to asset seizures. The most critical factor […]
How to File Back Taxes if You Don’t Have All Your Records
I talk to a lot of people who are stressed out about their back taxes, and one of the biggest reasons they’re holding off on filing is because their records are a mess—or completely non-existent. If you’re in that boat, I have some good news: You can still file your returns. Waiting because you don’t […]
When the IRS Won’t Cut You a Break
My client was heartbroken. He had owed over $800,000 to the IRS. We got him a partial pay agreement of $120 a month which would potentially save him over $500,000. It took close to year to get the agreement, with a ton of back and forth with the IRS. Two years later he called me […]
Why Gambling Problems may lead to Tax Problems
If you’ve had gambling winnings, and received a W-2G or 1099, the IRS expects you to report them—whether or not you actually made money. Many people fall into tax debt because they don’t properly track their winnings and losses or fail to claim deductions correctly. Others simply can’t pay what they owe due to financial […]
What is the “Back Door” Offer in Compromise?
Resolving Your Tax Debt with a Partial Pay Agreement It seems almost every day we get a call from someone with a tax debt asking if they can do an Offer in Compromise. It’s constantly talked about on TV and Radio by the National Tax Relief Firms. The problem is most people don’t actually qualify […]
4 Consequences of Unfiled Tax Returns
Negligence or inability to file a tax return, when you owe the IRS is an invitation to trouble. Many taxpayers are unaware of the fact that an unfiled tax return is worse than filing a return and not paying the due amount. If you are unable to pay your taxes, the IRS has avenues to […]