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Top Audit Issues for Independent Contractors
My firm works with a lot real estate agents and brokers, as well as other Independent contractors. Unfortunately, independent contractors often face higher scrutiny from the IRS due to their unique tax situation. Understanding the common audit triggers can help...
Taxpayer Advocate Service – Your Ally Against IRS Problems
Dealing with tax issues can be overwhelming. When the IRS sends letters or collection actions seem unavoidable, taxpayers often feel stuck with no way forward. Thankfully, there’s a free, independent resource available to assist you—the Taxpayer Advocate Service...
Steps to Take for Individuals with Unfiled Tax Returns
Filing tax returns is a legal obligation for anyone and everyone earning an income above a certain amount in the United States. But life can sometimes throw you curveballs, and filing taxes ends up being on the bottom of your to do list. Out of sight, out of mind,...
What To Do if the IRS sends you a CP2000 Notice
The CP2000 notice is issued by the IRS when there’s a discrepancy between the information you reported on your tax return and what third parties (such as employers, banks, or financial institutions) reported to the IRS. What to Do If You Receive a CP2000 Notice...
Understanding IRS Audits: Why Taxpayers Get Selected
For many taxpayers, the word "audit" evokes a sense of dread. The idea of the IRS combing through your tax return can feel overwhelming. However, most audits are the result of clear triggers that the IRS uses to identify potential discrepancies. By understanding these...
Prepay Expenses Using the IRS Safe Harbor Method
Use First Time Penalty Abatement to Remove IRS Penalties
If you’ve ever found yourself hit with an IRS penalty, you know penalties can add a significant amount to your tax bill and, if left unchecked, may even lead to more complications including additional interest, liens, and even levies. Fortunately, the IRS offers a...
TCJA: Don’t Lose Out When Corporate Vehicle Is in Your Personal Name
Do you operate your business as an S or a C corporation? Do you drive a vehicle titled in your personal name for corporate business? Beware. The Tax Cuts and Jobs Act (TCJA) changed the rules for tax years 2018-2025. Before the TCJA, you had to pay attention to the...
Local Reputable Tax Resolution Companies
Why Local Reputable Tax Resolution Companies Are the Best Option for Resolving Tax Debt You may have seen the recent IRS warnings about dubious "Offer in Compromise (OIC) mills," Don’t forget that there are many reputable local tax resolution firms that offer...
The Accountable Reimbursement Guide for Small Business Owners
Are you a small business owner who operates their business as a Corporation, S-Corporation, or partnership. As you’re probably aware, the rules for expensing costs paid personally are different than when running as a sole-proprietorship. For these businesses, an...