Secret Ways to Negotiate Payroll Taxes with the IRS That Actually Work!
If you’re a business owner or self-employed, you probably know the feeling — payroll taxes looming over your head like a storm cloud. The IRS doesn’t mess around when it comes to payroll taxes, but don’t worry — we’ve got some secrets up our sleeves that could help you negotiate a better deal with the […]
What Is a Substitute for Return? And Why It Could Cost You Thousands
If you haven’t filed your taxes in a while, the IRS might eventually file them for you. Sounds helpful, right? Not at all. When the IRS does your taxes, it’s called a Substitute for Return (SFR) — and it could leave you owing far more than you actually should. Let’s break down what an SFR is, […]
I Defaulted AGAIN on My IRS Payment Plan – What Now?
Uh-oh! You’ve done it again. You’ve missed another IRS payment, and now you’re sitting there wondering, “What’s going to happen next?!” It’s easy to feel like you’re in the middle of a financial nightmare. But guess what? Don’t panic! Defaulting on your IRS payment plan isn’t the end of the world—even if it feels like […]
Skipping Tax Season Doesn’t Make It Go Away
Here’s What Happens If You Didn’t File — And What You Can Still Do About It Tax season has come and gone — and if you didn’t file your return, you might be feeling anxious, overwhelmed, or just unsure of what to do next. You’re not alone, and you still have options. Let’s break down […]
Can an IRS Bank Levy Affect Your Credit Score?
IRS bank levy can be a stressful experience, particularly because of its potential impact on your financial health. This article explores how an IRS bank levy can affect your credit score, along with strategies to handle and potentially remove the levy. Understanding the Basics Does an IRS Levy Affect Credit? An IRS bank levy does […]
5 Common Mistakes to Avoid When Dealing with an IRS Revenue Officer
Are you making costly missteps during an IRS visit? What behaviors can trigger deeper scrutiny from a revenue officer? Can small errors lead to big tax consequences? When the IRS assigns a revenue officer to your case, it means the matter has escalated beyond routine letters or automated notices. IRS revenue officers handle serious tax […]
Can You Appeal a Decision Made by an IRS Revenue Officer?
Exploring Your Options After an IRS Officer Decision When an IRS Revenue Officer issues a decision that could affect your financial well-being, it’s natural to feel uncertain about your next move. But can you appeal an IRS officer’s decision? Yes, you absolutely can—and in many cases, you should. The IRS offers an established appeals process […]
The Truth About IRS Revenue Officer Audits: What You Need to Know
1. What Triggers an IRS Revenue Officer Audit? Revenue officers don’t show up randomly. Typically, they step in when unpaid taxes remain unresolved after multiple IRS notices. The trigger could be years of unfiled returns, substantial unpaid tax balances, or ignored correspondence. If your financial behavior raises suspicions, expect the IRS to escalate things. Key […]
9 IRS Red Flags That Could Lead to Wage Garnishment
Awareness of IRS red flags is critical for avoiding the drastic step of wage garnishment. Understanding what catches the IRS’s attention can help you maintain compliance and avert financial distress. Here are nine warning signs every taxpayer should know. Common Audit Triggers What Triggers an IRS Audit? Certain activities tend to raise suspicions and potentially […]
How to Choose the Perfect Business Entity for Your Venture
Choosing the right business entity is a critical decision for entrepreneurs and business owners. The type of entity you select can have significant implications for liability, taxation, and the overall management of your business. In this article, we will explore the pros and cons of various business entities, including sole proprietorships, partnerships, limited partnerships, limited […]