FTC filed a major law enforcement action against a national operation based in Beverly Hills, California, that allegedly bilked consumers out of more than $60 million by falsely claiming it can lower people’s tax debts. The key word is allegedly and the courts will decide this outcome. Be it necessary to say that any professional… Read More

Did you know that during an audit or an IRS visit that after the agents finish their conversations at your home or business or at the IRS office that they immediately go to their cars or cubicles and write up what you said? Their writings become prima facie evidence for future IRS assertions against you.… Read More

The IRS does deal on taxes owing, including all penalties and interest. The requirements are rigid, but if you qualify the results are FANTASTIC. To qualify for a deal with the IRS, we would suggest that you owe the IRS at least $5,000, and have very little in the way of equity in assets. Also,… Read More

You can avoid most IRS audits by doing a couple of things. They are: Report all Income for which you received 1099’s or W-2’s. Avoid schedule “C”. Set up some type of record keeping system. Don’t make your return look absurd. If it does, attach an explanation. When we say: “Don’t make your tax return… Read More

All check signers on Company Bank Accounts can be Held responsible for Payroll Taxes! If you are a check signer and a responsible party an the company checking account, it is your responsibility to make sure all Payroll taxes are paid to the IRS on time. Sometimes businesses get behind on payroll taxes due to… Read More

The IRS has over 148 different types of penalties. And boy do they love to hand them out. The worst part is that the IRS also charges interest and additional penalties on the original penalty. So you must try to get them reduced or completely abated to zero. After you decide to make a request… Read More

If you are a small business owner or self-employed and find yourself being audited by the IRS, the Fast Track Settlement or FTS, may be the answer for you. The IRS SB/SE (Small Business/Self Employed) program allows for most cases that fall under its jurisdiction to be considered for the Fast Track Settlement.  It also… Read More

Many people do not realize that the IRS charges you a penalty of up to 25% for just filing your tax return late. That’s 25% of what you owe. This includes Individual Tax returns, Payroll Tax returns, or corporate tax returns. What people don’t know is that you can file ANY tax return on time… Read More