When Is It Too Late To Claim Your Federal Tax Refund?
Let’s continue the discussion from last week. Let’s assume that the IRS ended up filing substitute returns on your behalf. The substitute...
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What Happens When I Don’t File A Tax Return: IRS Substitute For Return
Too often, people will file an extension for their federal tax return, but for reasons unknown, forget to file the return by the...
What if I don’t agree with the IRS: IRS Rights
One day you receive a notice from the IRS. The notice states that you have unreported stock trades for the previous tax year. The notice...
Understanding the Self-Employment Tax
You are the owner/operator of a small business with no employees. Your business was formed as a single member LLC; thus, you report your...
What If My Business Cannot Afford to Pay Employment Taxes: The IRS Trust Fund
You own a small business with a few employees. Business has been great in the past; but this month has not produced as much income as you...
1099 or a W-2: Employee vs. Independent Contractor
Operating a successful business can be stressful. It takes careful planning on the part of the business owner to ensure that the business...
The Truth About The IRS Fresh Start Program
For months, I have been hearing radio and television advertisements about the “new” IRS Fresh Start Program. I always shake my head and...
“The Tax Debt Belongs To My Spouse”: The Difference Between Innocent Spouse Relief and Injured Spous
Innocent Spouse When you file a tax return with your spouse, the law holds you “jointly and severally” liable for the debt. This means...
Can I Have the Penalties Waived on My Tax Debt: The IRS First Time Penalty Abatement.
You are under a monthly installment agreement and it seems as if the balance is not decreasing. You examine your statement and discover...
What If I Cannot Afford to Pay? IRS Currently Not Collectible (CNC) Status
You owe the IRS a ton of money. You want to enter into a payment plan, but you are barely getting by. After paying all of your monthly...
