Category Archives for AVOIDING TAX PROBLEMS

Is an Offer in Compromise Right for You and Your Situation?

Offer in Compromise (“OIC”) is a program developed and run by the IRS allowing taxpayers to settle their tax debt for less than the full amount they owe. This is a useful program to look into if you

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Can the IRS Garnish My 1099 Earnings?

  • July 12, 2019

Yes! IRS 1099 Non-Wage Garnishment works similarly to W2 Wage Garnishment but no employer is involved. Because of that, there are some key differences.If you owe taxes to the IRS from a prior tax year,

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Paycheck Checkup Prevents a Tax-Time Surprise!

  • July 11, 2019

It’s important to check your federal income tax withholding now to avoid an unexpected tax bill or penalty with next year’s return. The IRS Withholding Calculator can help you conduct a Paycheck Checkup.Basics

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What Taxpayers Really Think about the IRS

  • July 3, 2019

For the last two years, the Internal Revenue Service has surveyed taxpayers to find out what makes them comply with their tax obligations. The study – called the “Comprehensive Taxpayer Attitude Survey”

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Celebrity Attorney Adds Tax Evasion to His Web of Crime

  • July 3, 2019

IRS Terror Tale: Celebrity Attorney Michael Avenatti Faces a LOT of Prison Time for Tax CrimesMichael Avenatti has been a high-profile attorney for decades but only recently stepped into the public eye

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Tracking Down IRA Basis: A Gold Mine for Beneficiaries

  • May 17, 2019

No one likes to pay taxes unnecessarily, but that's what a lot of people who inherit IRAs wind up doing. Failing to track down the IRA basis associated with an inheritance can be a costly mistake.IRA basis

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Standard Tax Deduction: How Much It Is and When to Take It

  • March 29, 2019

The standard deduction reduces your taxable income. For 2018 taxes, the standard deduction is $12,000 for single filers and married filers filing separately, $24,000 for married filers filing jointly and

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Treasury Cuts Penalties for Taxpayers Who Got Confused about Withholding

  • March 28, 2019

The U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.Taxpayers who paid at least 80 percent of their estimated tax liability

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10 Things You May Not Know Are Taxable

  • March 28, 2019

If you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn’t stop there.If you’ve picked up some extra

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Is the IRS picking on you?

  • February 18, 2019

You are not alone. Running the government is expensive and the number one means for paying its bills and expenses is you - the taxpayer! The government is an equal opportunity debt collector. It doesn’t

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