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Missed the Tax Return Deadline? IRS Offers Help

The tax deadline for most taxpayers was Tuesday, April 18, 2017. The IRS has some advice for taxpayers who missed the filing deadline.

File and pay as soon as possible. Taxpayers who owe federal income tax should file and pay as soon as they can to minimize any penalty and interest charges. For taxpayers […]

By |April 20th, 2017|Categories: Tax Relief||0 Comments

IRS Warns of Video Relay Scam Targeting Deaf and Hard of Hearing

Every day scammers come up with new ways to steal taxpayers’ identities and personal information. Some scammers pretend to be from the IRS with one goal in mind: to steal money.

Be aware that con artists will use video relay services (VRS) to try to scam deaf and hard of hearing individuals. Don’t become a […]

By |February 18th, 2017|Categories: Tax Relief||0 Comments

How Would the Trump and Clinton Tax Plans Affect Your Taxes?

Thank you to  Kyle Pomerleau (taxfundation.com) for this amazing article.

Both Hillary Clinton and Donald Trump have both introduced plans that would change the federal tax system.

Hillary Clinton’s tax plan would increase federal revenue by about $1.4 trillion over the next decade. Her plan would make the current tax code more progressive by raising taxes on […]

By |October 25th, 2016|Categories: Tax Relief||0 Comments

President Signs Extender Bill

On December 18th, President Obama signed into law tax extenders legislation which will make the Research and Development tax credit (R&D) permanent. This new law will extend over 50 expired provisions of tax code, including several key pro-business initiatives. Having the R&D tax credit made permanent will provide U.S. companies much needed certainty and […]

By |January 11th, 2016|Categories: Tax Relief||0 Comments

Pay Your Taxes or Lose Your Passport

For those of you who owe back taxes and are not making payments, listen up, you may very well lose your passport. Congress has passed for a new law to go forth starting in January that states if you owe the IRS $50,000 or more your passport will be revoked and if you are […]

By |December 1st, 2015|Categories: Tax Relief||0 Comments

Protecting Your Credit Rating While Owing Taxes

Back taxes will compound penalties, fees, and interest, but they can also negatively affect your credit score. Next to bankruptcy and judgements, tax liens are one of the worst negative public records that can show up on your credit report. A tax lien is the government’s legal claim to your property. After long periods […]

By |November 6th, 2015|Categories: Tax Relief||0 Comments

Who Qualifies For A Penalty Abatement?

Penalty abatement can significantly reduce back taxes and help taxpayers comfortably pay it back. Almost anyone can qualify for a penalty abatement; it’s the circumstances that will determine if you qualify. If you meet these special circumstances then the IRS abates the entire portion or a partial portion of an IRS penalty.

Some of the […]

By |November 4th, 2015|Categories: Tax Relief||0 Comments

Can I file an amended return to claim missed deductions and credits?

Come tax season, you do your best to file a correct return. You gather all the necessary paperwork such as W-2s, 1099s, receipts and other documents. You sift through all of the information to find the right schedules and forms. After all of this, new information may arise after you file causing you to […]

By |November 2nd, 2015|Categories: Tax Relief||0 Comments

Can I file bankruptcy and get rid of my tax debt?

Can I file bankruptcy and get rid of my tax debt? The short answer to that, that depends. There are exceptions to the yes and no. Let us first start with explaining what claiming a bankruptcy means. When you file a bankruptcy, it is to receive a discharge of all your debts, such as […]

By |October 29th, 2015|Categories: Tax Relief||0 Comments

The 941 Crisis

As a business owner there is a lot of paperwork to keep up with, let alone tax paperwork; especially form 941, which is the Payroll taxes or Withholding taxes. Any business that has employees have specific filing and deposit requirements such as Social Security tax, Medicare tax, Federal Income tax, and Unemployment tax. Businesses […]

By |October 28th, 2015|Categories: Tax Relief||0 Comments