Do you owe taxes because of the Employee Retention Credit? You’re not alone—and you’re not at fault. Thousands of businesses across the country are being hit with unexpected IRS audits, massive back-tax bills, and penalties after claiming the ERC—often through third-party...
If you’ve received IRS Letter LT-11, it’s natural to feel a wave of panic. No one likes getting mail from the IRS, especially when it’s a Final Notice of Intent to Levy. That phrase alone is enough to send anyone’s stress levels through the roof. But before you assume the...
Learn about the IRS Collection Statute of Limitations for unpaid taxes and discover key factors that can pause or extend the statute. Get helpful insights and expert guidance.
Yes. he IRS, tasked with collecting taxes and enforcing tax laws, has turned to private debt collectors to assist with certain tax debts. This move has stirred debate, with some questioning the IRS's intentions. Let's dive deeper into the two main reasons the IRS cites for...
If someone hasn't filed their taxes, they need to know that it's crucial to file as soon as possible to minimize penalties and interest. Delaying further can result in failure-to-file and failure-to-pay penalties, along with accruing interest on unpaid taxes. If they cannot pay...
After a prolonged hiatus spanning more than two years due to the Covid-19 pandemic, the Internal Revenue Service (IRS) has begun issuing automated collection notices to taxpayers once again. This signals a potential wave of impending notices for overdue tax debts and demands...
A lot of people wonder about the role of an IRS Revenue Officer or a State Tax Compliance Officer. Revenue Officers are the ones tasked with collecting overdue taxes, investigating tax non-compliance, negotiating with taxpayers, and taking enforcement actions. Whether it's at...
What is the IRS billing and collection process? Navigating the IRS billing and collection process can be an intimidating experience, often perceived as a daunting bureaucratic maze. However, understanding the intricacies of this process can empower you to make informed...
When you owe taxes, it's crucial to take proactive and responsible steps to address the situation. Ignoring it can lead to penalties and interest piling up over time. Start by thoroughly reviewing your tax return for accuracy and ensure you've claimed all applicable deductions...
Under the Corporate Transparency Act, businesses are mandated to disclose detailed information about their beneficial ownership. The term "beneficial ownership" refers to the individuals who ultimately benefit from or control a legal entity, shedding light on previously...