Category Archives for FEDERAL TAXES
Violating Federal Employment Tax Rules Brings Heavy Penalties!
And there are many ways to incur those penalties. Violating federal employment tax rules is very serious business – and not just for employers – employees will suffer as well.Both employers and employees
Read MoreAny Letter from the IRS is Scary, but Which are Just Scare Tactics and Which are Serious?
If you have a tax problem with the IRS, you no doubt have been bombarded with their "love letters", some reminding you to pay your unpaid taxes, some reminding you to file, some requesting information,
Read MoreIs 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
Read MoreCan the IRS Garnish My 1099 Earnings?
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,
Read MorePaycheck Checkup Prevents a Tax-Time Surprise!
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
Read MoreWhat Taxpayers Really Think about the IRS
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”
Read MoreCelebrity Attorney Adds Tax Evasion to His Web of Crime
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
Read MoreTracking Down IRA Basis: A Gold Mine for Beneficiaries
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
Read More10 Tax Breaks for the Middle Class
If you believe that tax breaks are reserved for the well-off: hedge fund managers and companies with offshore subsidiaries, you’re likely paying too much to the IRS.Lawmakers have enacted dozens of tax
Read MoreStandard Tax Deduction: How Much It Is and When to Take It
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
Read More