Divorce and Taxes: How to Protect Yourself
Divorce and taxes are the important subject of our live event with Pacific Cascade Legal, a premier family law firm in Oregon and Washington. We discuss how divorce impacts joint tax liability, when there might be relief granted for separation of joint liability, and other important tax considerations when navigating divorce from your spouse. […]
Guide to IRS Statute of Limitations (CSED)
IRS Statute of Limitations and the Collection Statute Expiration Date (CSED) The collection power of the IRS is restricted by a statute of limitations on taxes. This powerful restriction gives the IRS up to 10 years to collect a tax. Once the 10-year period expires, the tax is no longer enforceable and it simply goes […]
How to Avoid IRS Trouble
The thought of IRS trouble, “red flags” and audits are enough to worry any business owner. In this podcast, we talk about how to avoid IRS tax problems, and what to do if they arise. In the podcast, we cover a variety of topics including: Organizing your business for tax preparation Tax calendar […]
IRS Hardship Program: Currently Not Collectible
We regularly meet with clients of our accounting firm who owe taxes to the IRS that they cannot afford to pay due to a financial hardship. Sometimes it is a tax bill for one year. Frequently it is a tax bill for multiple years. The IRS offers a number of solutions that provide tax relief […]
Statistics on Federal Tax Liens in Alpharetta, GA
This is the first in our series of reports analyzing federal tax liens on Georgia businesses. Along with tax levies and garnishments, federal tax liens are one of the most powerful weapons available to the IRS in its efforts to collect back taxes. As of 2022 there were more than 15 million taxpayers nationwide in […]
Resolve Your Tax Debt To Save Your Passport
Can You Get a Passport If You Owe Back Taxes to the IRS? If you owe significant tax debt, you may be in for a surprise. The State Department will revoke your passport, or not issue you a new passport, if you owe a significant tax debt to the IRS. Therefore, taxpayers with tax debts and […]
IRS Negotiation: Resolving a Tax Debt
Negotiation with the IRS to Settle a Tax Debt IRS negotiation of tax debts is a fundamental part of our tax practice. Typically, tax debt negotiation is required when the taxpayer owes taxes, penalties and interest to the IRS that they cannot afford to pay. A tax debt can be for one year or for […]
Trust Fund Recovery Penalty
The Trust Fund Recovery Penalty is a very severe set of rules that are meant to encourage voluntary compliance with our payroll tax laws. Payroll taxes includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck. It also includes the employer portion of FICA. The business pays […]
Georgia Offer in Compromise and Tax Payment Plan
Georgia State Tax Forgiveness: How it Works The Georgia Department of Revenue (GA DOR) allows taxpayers to settle a tax liability for less than the total amount owed. This is called an offer in compromise and is one of the more popular tax debt relief programs in Georgia. These programs are also known as […]
The Significance of a Joint Tax Return
Filing a Joint Tax Return: What Does Married Filing Jointly Mean? Filing a joint tax return allows married taxpayers to enjoy favorable tax rates. In other words, the total tax is usually lower on a tax return filed with the status of married filing jointly (MFJ). The other types of filing status are single, married […]