If you can’t pay your taxes, you still have options. You can set up an online payment plan, if you owe less than $50,000 (or $25,000 for businesses) and are current on your tax-filing obligations. You could apply to pay in monthly installments, through an installment agreement. And if you can get the IRS to […]

As a business owner, you’ve got a lot to keep track off. The issues may include competitive challenges, employee matters and many more. And of course tax compliance issues. It’s important to be aware of what the trends are there – and here’s one: a decline in business tax audits. In simple terms, business tax […]

U.S. tax authorities began a stepped-up enforcement campaign on offshore account reporting requirements in 2008. It hasn’t really let up since. Indeed, with the passage of the Foreign Account Tax Compliance Act (FATCA), these requirements have become even more burdensome for U.S. taxpayers with foreign income or assets. The burden is such that an increasing […]

The filing deadline for federal taxes this year is April 18. That’s exactly one month from now. If you don’t think you’ll be able to file your return by then, it may have crossed your mind to seek an extension. In this post, we will address some frequently asked questions about getting an extension of […]

There are many tax regulations businesses are subject to. These regulations touch on all sorts of things, such as reporting requirements, executive compensation, employee classification and employee wages, just to name a few. Given this, there are a considerable number of areas in which tax troubles could potentially arise for a business owner and their […]

In the classic story of “Romeo and Juliet” there is a well-known and often repeated line, “What’s in a name?” In the tax world, a name can mean the difference of thousands of dollars. It is important for business owners, employers, employees and independent contractors to understand the distinction between titles and to plan for […]

If you find yourself faced with a sensitive situation that is colloquially known as an “eggshell audit” then read on — in this post, we will explain what that kind of tax audit it is and who should handle it. Eggshell audit is not a formal term. But it is commonly used to describe a […]

A tax dispute with the Internal Revenue Service does not necessarily implicate a future appearance in U.S. Tax Court. In fact, even the IRS’s website claims that over 100,000 taxpayers are able to resolve their tax controversies outside of that forum, using an administrative route called the Office of Appeals. The Office of Appeals is […]

In our last post, we discussed the procedural requirements that the Internal Revenue Service follows before filing a Notice of Federal Tax Lien. Although a federal tax lien against one’s property may seem like a drastic action, it is important to understand that there are other, sometimes more immediate actions the IRS may employ in […]

If penalties and interest weren’t enough to intimidate taxpayers who are accused of unpaid taxes, the IRS also can file a federal tax lien against one’s property. Since a tax lien can affect an individual’s credit score, it is important to understand how this collection tactic may arise. As a law firm that focuses on […]