If you’ve had a big tax debt at the end of last year, your Enrolled Agent may have talked with you about paying estimated taxes, especially if you are self-employed. Hopefully, your eyes didn’t roll into your head and you didn’t tune him or her out. Why? If...
A CP523 notice will not be the first time you’ve dealt with the IRS. In fact, you need to first have an installment agreement with the IRS in order to receive one. It is a cause for concern, however. Why Am I Getting a CP523 Notice? You are...
Third time is a charm… or a nightmare? One year ago the IRS reinstated a program allowing private debt collectors to pursue delinquent taxpayers. This is nothing new – in fact, it was tried twice before. Even so, Congress voted in 2015 to restart the program, the...
Being late on your income tax is one thing. Payroll taxes are an entirely different story, however. Although I may not want to hear it, I’ve had so many new clients tell me they haven’t filed income tax returns for years and have finally decided it’s...
There it is… a plain white envelope with an IRS return address. This seemingly innocent piece of mail is right there in your mailbox, mixed in with your bills and a pile of junk mail. When you open the envelope, you see in the upper right-hand corner that...
On Monday, August 6 the news hit the WKBN website. In Broadman, Ohio, police were warning of a tax scam besieging the area. Twenty-five calls on one Monday morning will definitely raise the red flag. That’s how many complaints flooded Boardman police about the scam. The tax...
You diligently complete and file your tax return… to your delight, you’re getting a refund! You are excited when you see the IRS envelope show up in your mailbox. At last, your money is here! Now you can pay bills/get your car fixed/blow it in...
Can you declare bankruptcy and be clear of your tax debt? The simple answer is: Yes and no. Theoretically, you can have your tax debt discharged in bankruptcy. There are cases where the IRS code trumps a bankruptcy ruling, however. In fact, the IRS might not accept the...
Remember the Calgon commercials of the 1970s and 1980s? Those of you who were around that is… A harried woman juggling kids, housework, jobs, and life, in general, gets fed up and utters the magic phrase: “Calgon, take me away!” Immediately, she is whisked away to a...
It was an otherwise uneventful Monday morning in Topeka, Kansas when local restaurant Annie’s Place was seized by the state for over $18,893.81 in unpaid sales taxes on July 23. The owners were given until last Wednesday, July 25, to pay the taxes or reach some...