Category Archives for ELIMINATING IRS TAX DEBT

Supreme Court Considers Attorney-Client Privilege in Tax Case

  • January 13, 2023

The U.S. Supreme Court recently heard oral arguments in a tax case in which both attorneys and CPAs offered advice. At issue is the question of whether a communication involving both legal and nonlegal

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What the Wealthy Can Fear from a New IRS Law on $600 Payments

  • December 13, 2022

A new IRS law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.Under the rule,

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What Is a 1099-K? Who Gets One and How It Works

  • December 12, 2022

Simply put, a 1099-K form is a record that a third-party payment network transferred at least $600 to you during the year.Did you get paid more than $600 in 2022 for goods or services through a third-party

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Now is the Time for Year-End Tax Planning

  • November 22, 2022

With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start

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A Big Applause for Charlie Sheen’s Tax Resolution Team!

  • November 22, 2022

For once, the "IRS vs. celebrity" terror tale isn’t a story about the IRS crushing a celebrity under its heel – it’s an underdog tax resolution tale of a star fighting back! This summer, actor Charlie

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IRS Sent Erroneous Balance Due Notices to Married Filers

  • August 9, 2022

The Internal Revenue Service admitted that some married couples received erroneous or incorrect balance due notices for their 2021 tax returns.The IRS added that no immediate response to the notice or

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What You Should Know About Winning a Lottery Jackpot

  • August 8, 2022

It’s definitely not likely you’ll hit big. But if you win, you could be happy for years to come – no matter what the naysayers tell you about winning a lottery.Your Chances of Winning Big are Itty

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How Bonuses are Initially Taxed May Create Tax Issues

  • July 21, 2022

If your bonus doesn't have the proper withholdings taken out up front, it may create taxes due when you file your tax return.This has been an ongoing issue for people who are paid bonuses during the tax

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What Independent Contractors Need to Know About Taxes

  • July 21, 2022

If you’re self-employed or a freelancer, you are likely paid as an independent contractor rather than as an employee. And paying taxes as an independent contractor is different from paying employee taxes.Many

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Can you claim the home-office deduction?

  • June 2, 2022

Did you work from home this year? Find out when you can claim the home-office tax deduction. If you were part of the “Great Resignation” and it lead you to start a business or become your own

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