Worried about getting audited? Most people -- and especially business owners -- worry at least a little bit when tax season rolls around. Even if you feel like you did everything correctly, you're concerned that you may have overlooked something or at least that the...
Identifying Effective Tax Help Solutions
Year: 2019
Can you receive a first-time penalty abatement for unpaid taxes?
Receiving a notice from the IRS that they suspect that you have underreported your income or underpaid your taxes can be a frightening experience. After all, the Internal Revenue Service (IRS) has the authority to garnish your wages or even prosecute you for tax...
Could filing your business taxes cause trouble with the IRS?
Business owners often have to perform a wide range of tasks for the company that they start and run. While you may not have had any experience with financial record-keeping before you started the business, you may start to perform minor accounting tasks as a way of...
What happens if you receive a letter of deficiency from the IRS?
If you are like most Americans, you pay your taxes, but you try to avoid overpaying them by making sure you get all the right deductions and tax credits. After all, who wants to send Uncle Sam more money than he's entitled to from the paycheck you work so hard...
IRS can take your passport if you have high tax debt
Delinquent tax debt can be a heavy burden for you to bear. The IRS can put a lien on your home or garnish your wages. They can often do this automatically or without the use of a court order. They can also revoke your passport.If you have what the IRS calls...
How will my choice of entity for my new business affect my taxes?
When you start a new business, you have to take many choices into consideration. Each decision you make will take into account the type of business you plan to run and how you plan to run it. As you plan your new business structure, one major decision will be which...
Overturned tax law could mean income taxes in Washington state
Businesses and residents of Washington may have to start paying more income taxes. A recent decision by the Washington state Court of Appeals has left the door open for a local income tax.A 1984 law prohibited cities and counties from collecting net income tax. The...
What to do if you receive a tax audit notice
The reason that the IRS conducts tax audits is to uncover inaccurate tax returns. If your tax return contains inaccurate information, you may be subject to an audit. During the audit, the IRS will determine if there is any reason to penalize you for inconsistencies on...
Quarterly payments can help you move your business forward
Owning a business can be an excellent means to support your family, develop a niche for yourself and bring your dreams to fruition. And although business ownership may provide you with the right to determine your schedule and free you from answering to a boss, it...
Sales tax exemption reform could affect Washington businesses
Washington businesses may soon experience decreased sales due to new state tax legislation. Under Senate Bill 5997, which narrowly passed over the last weekend of April, Oregonians shopping in Washington may no longer be able to claim sales tax exemptions at the...