RESOURSES
Practical guidance and insights to help you understand your tax situation and explore your options.
Why IRS Tax Transcripts Matter When Preparing Your Tax Return
Most taxpayers assume that preparing an accurate tax return is relatively straightforward: collect Forms W-2, 1099, and other tax documents, provide them to a tax professional, and calculate the resulting tax liability. While this approach works in many situations, it relies on one important assumption—that the documents collected by the taxpayer represent a complete and accurate picture of their financial activities.
Automatic Exemption from Penalty (AEP): How the IRS’s New Automatic Penalty Relief Works
For many years, taxpayers with an otherwise good compliance history could rely on the IRS First Time Abate (FTA) program to obtain relief from certain failure-to-file, failure-to-pay, and failure-to-deposit penalties. The IRS is now changing that process through a new program called Automatic Exemption from Penalty (AEP).
Your IRS Installment Agreement Is Approved. Now What?
An IRS Installment Agreement can provide much-needed breathing room when you cannot pay your tax debt in full. But an Installment Agreement is not something that should simply be placed on autopilot and forgotten. The agreement resolves how an existing tax debt will be paid. It does not eliminate the taxpayer’s responsibility to remain current with future tax obligations.
Why Payroll Tax Problems Can Become Personal?
Many business owners understand that failing to file an income tax return is a problem. What they often don’t realize is that payroll taxes are treated very differently by the IRS.
Most Common Tax Problems
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Unfiled Returns
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Federal Tax Lien
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Levies and Garnishments
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Seizures of Assets
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Payroll Tax Problems