I Received a Notice of Federal Tax Lien, What is it and What Do I Do? Not paying your taxes has serious consequences, and one of the worst ones is the federal government filing a legal claim against all property you currently own and property acquired...
Resolutions for Small Businesses in 2019 Have you made your resolutions for 2019? As a businessowner, resolutions can be very different from the typical goals individuals set for themselves. If you’re unsure of what exactly the best course of action for 2019 is for your business...
Data Breaches are Coming… Look out, Cannabis Industry Virtually everyone knows about breaches of companies like Equifax. Massive breaches have happened to established, mega-companies who still took major reputational and monetary hits after they were breached. What many people don’t realize is that it doesn’t take a major...
The Top Five Cannabusiness Tax Myths It's difficult to understand cannabis tax, especially for those trying to figure out the tax obligations of their business. Knowing a business is legal in a particular state, but illegal according to federal law, makes taxes even more confusing. We’re...
Haven’t Filed Taxes in a While? How long has it been? 3 years? More? 10? Some people have never filed taxes. Why not? “I knew I owed them, and I didn’t want to face the consequences.” “I couldn’t gather all of my records.” “My ex used to do them...
Year-End Tax Savings Strategies Though our firm specializes in helping people resolve their IRS or state back tax problems, we also love saving you money. After all, one of the best ways to avoid getting into tax trouble is to minimize your liabilities. The end of the...
More Recent Tax Cases You’ll Enjoy Reading About (Tax Fraud) If you liked our last stories, these will blow you away. Shirley, N.Y. In our first short story, we’ll introduce Fred Towle Jr., 52. Towle pleaded guilty to endorsing a false return for 2012 that underreported his business...
Snipes continues to getting knocked down by the IRS. Rather than give up, he too keeps getting back in the ring. In his latest skirmish with the service, the Tax Court held that the IRS did not abuse its discretion by refusing to accept his offer...
7 Recent Tax Cases You’ll Enjoy Reading About Warwick, R.I. Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to the court, Petrarca owned and operated the tax prep business Stratus Financial Group. He admitted to falsifying 44 returns prepared for...
For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, after the IRS budget cuts, we lost...