The IRS will not read your offer until your business clears four gates. Miss one, and the file comes back unopened. That is the reality behind the Business Offer in Compromise requirements. Before the IRS calculates what your company can afford to pay, it checks whether your business is even Read more
Your phone rings. The caller says they are from the Tax Resolution Oversight Department, and your case is about to be escalated. Your stomach drops. That reaction is the entire point. The Tax Resolution Oversight Department scam is one of the fastest-growing phone and email scams targeting small business owners Read more
Yes. You can appeal an IRS lien or levy through one of two procedures: Collection Due Process (CDP) or the Collection Appeals Program (CAP). They are not interchangeable. A timely CDP hearing can preserve your right to later review by the U.S. Tax Court. CAP is broader and faster, but Read more
Payroll Tax Trouble: How an Enrolled Agent Stopped an IRS Levy and Tackled a Trust Fund Recovery Penalty A payroll tax levy is one of the most serious IRS collection threats a small business can face. When a business withholds payroll taxes from employee paychecks but does not send those Read more
Many Taxpayers Still Have Not Claimed Their 2022 Refunds Most people think an unfiled tax return matters only when they owe money but that’s not always true. Sometimes a person skips filing, but the government owes that person a refund. That is happening right now with many 2022 returns. The Read more
IRS Identity Protection PINs Can Help Stop Tax Fraud Tax identity theft is a real problem. But using an Identity Protection PIN can minimize your risk of tax fraud and give you peace of mind. Read on to learn more about how a tax identity pin can protect you and Read more
Many tax professionals know the rules of Circular 230, but many business owners do not and trust that their tax advisor follows them. And understanding the seriousness of the expedited suspension rule is vital for business owners and tax professionals to stay IRS compliant. Under this rule, the government may Read more
Reporting Tax Fraud and Scams: What Taxpayers and Small Business Owners Need to Know Tax problems are stressful. Tax fraud and scams make them worse. Many people know when something feels wrong, but they do not know what to do next. That delay can create bigger problems. The IRS has Read more