The year is almost over, but the time to make financial decisions that could affect your taxes in 2022 and/or 2023 is about to begin. Below are a few tasks and considerations to look into before January 1 arrives.
Continue reading “End of Year Tax Planning Guide for 2022”
Every year, the IRS releases its “Dirty Dozen” list of tax scams for taxpayers to watch out for. In this blog post, we identify and explain a few of the more notable scams that have made this list.
Continue reading “2022 Tax Scams the IRS Is Warning You About”
If you get behind on your taxes, you will accrue a tax debt. Tax departments and agencies have special tools to make sure you pay unpaid taxes. Two of the most powerful include the tax lien and tax levy. Let’s take a look at what these are and how they work.
Continue reading “What Are Tax Liens and Levies and How Do You Get Them Removed?”
For the typical taxpayer, they have until around April 15 to file their income tax returns for the prior tax year. The deadline for the 2021 tax year was April 18, 2022. Yet sometimes there are reasons why a tax filer can’t get their tax returns to the IRS by this deadline.
Continue reading “2021 Tax Extension Filers: Why to File As Soon As Possible”
The Internal Revenue Service (IRS) is a much-detested part of the federal government. Yet its existence is necessary for the continued operation of the United States. Despite the IRS’ importance, it has recently suffered a steady reduction in workers and funding to carry out its tasks.
Continue reading “IRS Gets Billions for Audit Enforcement. Here’s What That Means for You”
If there’s anything more inevitable in life than death and taxes, it’s scams. Tax scams are nothing new, but scammers are always coming up with different strategies to take advantage of taxpayers. No matter what time of the year it is, taxpayers need to stay vigilant to avoid falling prey to tax scams. Below are some tax scams that you may not have heard of, but could affect you.
Continue reading “Tax Scams to Watch Out For This Season”
The IRS is a tenacious debt collector. Even if you file bankruptcy, not all of your tax debts may be dischargeable. Because of how challenging it can be to deal with tax debts, the idea of paying off a tax debt for less than what you owe sounds very appealing. Luckily, the IRS has something for taxpayers called an offer in compromise.
Continue reading “Offer in Compromise: What to Expect”
The short answer to this question is that one’s bad and the other’s worse. But we’ll provide a more complete answer in this blog post. However, before we provide a more in-depth answer, it’s best to understand what tax liens and levies are.
Continue reading “What’s the Difference Between Tax Liens and Levies?”
If there’s one thing taxpayers in California hate more than paying taxes, it’s probably responding to a tax audit. And it’s not just the prospect of having to pay additional taxes or penalties that’s the scary part. Instead, it’s providing documents and other information requested by the IRS or the California Franchise Tax Board (FTB). Not only is it a major hassle and inconvenience, but it can be confusing as well. So it’s understandable that anyone subject to a tax audit might wonder if getting outside help is a good idea.
Continue reading “Tax Audits: Why Hire a Tax Attorney?”
Scams have probably been around almost as long as taxes have. So it’s safe to say unsavory people have been employing tax scams for a while now. And as the years have gone by, the tax scams have changed, although the overall objective remains the same: steal money. Here are some of the more popular or dangerous tax scams to be aware of during the 2022 tax season.
Continue reading “2022 Top 10 Tax Scams to Watch Out For!”