Category Archives: Tax IRS
Have You Been Contacted by a Private Debt Collector About Your Taxes?
In 2017, the IRS began using private debt collectors to recover certain overdue federal debts from taxpayers. There are, however, only a few debt collectors that are actually allowed to collect debts on behalf of the federal government and those that are permitted to do so are required to comply with a strict set… Read More »
Challenging the IRS
Taxpayers have a number of different rights when it comes to dealing with the IRS, one of which is the right to challenge the agency’s decisions. This right can prove crucial in helping taxpayers avoid unfair decisions and penalties. How a person goes about exercising this right, however, may vary depending on his or… Read More »
Paying Deferred Employee Taxes
Last year, due to the economic difficulties that accompanied the coronavirus, many businesses were given the option to defer paying certain employee taxes until the end of 2021. To learn more about this extended filing period and how it could help you with your own employment-related taxes, please reach out to our experienced Florida… Read More »
Common Estate and Gift Tax Questions
Gift taxes apply to transfers of property, money, and assets that are made by a person during his or her lifetime. Estate taxes, on the other hand, apply to large inheritances left to an heir upon a person’s death. The overhaul to the tax code that took place in 2017 made some significant changes… Read More »
Alimony Payments Could Affect Your Taxes
It is not uncommon for many of those who go through divorce to forget about the tax-related repercussions of ending a marriage. While this is completely understandable, especially in the context of a divorce, it can have dire consequences for the parties later on. Alimony payments, for instance, can affect the tax situation of… Read More »
Why Was My Refund Reduced?
When submitting their tax returns, most people are able to calculate, with a relative degree of certainty, how much they can expect to receive in a tax refund. These amounts, however, are not absolute and are actually subject to change by the IRS. For instance, when issuing refunds, the IRS is authorized to reduce… Read More »
The Tax Repercussions of Closing Your Business
The COVID-19 pandemic has had devastating consequences not only on the health of thousands of Americans, but also on the economy as a whole. Many businesses, for instance, especially small family-owned companies, have been forced to shut their doors permanently as a result of pandemic-related restrictions. While the decision to close a business may… Read More »
The Taxpayer’s Right to Finality
As taxpayers, we have a wide range of rights when it comes to dealing with the IRS. For instance, taxpayers have the right to be informed about IRS decisions, as well as the right to privacy and confidentiality, and the right to appeal the agency’s decisions. Of these rights, one of the most important… Read More »
Tips for Reconstructing Important Tax Records After a Disaster
Over the last few years, the U.S. has seen an unprecedented number of natural catastrophes, including wildfires and record-setting hurricanes. Many of those who were forced to suffer through these natural disasters continue to face ongoing challenges, including reconstructing their financial documentation and tax records. Obtaining this information is extremely important, as the paperwork… Read More »
Receiving a Bill from the IRS
April 15th is the standard deadline for most taxpayers to file their tax returns and pay any taxes that they owe to the IRS. During processing, the IRS checks these returns and payments for accuracy before determining whether a taxpayer owes additional taxes, penalties, or interest, in which case, that individual will be sent… Read More »
