Monthly Archives: June 2025
Is Your Florida Business at Risk for a Payroll Tax Audit?
When you run a business, staying compliant with payroll tax requirements is just as important as paying income taxes. Unfortunately, small and mid-sized businesses are often targets for payroll tax audits, especially when mistakes are made in withholding, depositing, or reporting employee wages. These audits can lead to severe financial penalties and, in some… Read More »
Why the IRS May Reopen a Closed Tax Year (And What You Can Do About It)
Florida taxpayers often breathe a sigh of relief once tax season ends. However, under certain circumstances, the IRS can and does reopen closed tax years, sometimes going back several years beyond the standard window. If you receive notice that a closed tax year is under review, do not panic. Don’t ignore the situation, either. … Read More »
Do You Owe Taxes on Debt Forgiveness? What Florida Residents Need to Know
If you have recently had debt forgiven, you are likely feeling relieved. Unfortunately, that feeling could be short-lived. Many Florida residents do not realize that, in some cases where a creditor forgives a debt, the Internal Revenue Service considers it as income. This means that the debt forgiveness you were so happy about could… Read More »
