Does The IRS Pay Interest on ERTC Credits?
If you’re a business owner who applied for the Employee Retention Tax Credit (ERTC or sometimes ETC or ERC), there’s good news on the horizon! After a long pause to … Read more
IRS Form 12153: How to Request a Hearing and Stop IRS Collection Actions
When the IRS initiates collection actions like liens or levies, it can be a stressful experience. However, taxpayers have rights and options to challenge these actions. One powerful tool at … Read more
How to Apply for the Second ERC Voluntary Disclosure Program?
With the announcement of the second Employee Retention Credit (ERC) Voluntary Disclosure Program (ERC-VDP) for 2021 tax periods, businesses, tax-exempt organizations, and government entities now have an opportunity to correct … Read more
IRS Form 2750: Extend Your TFRP Assessment Period and What It Means for You
When it comes to payroll taxes, the IRS takes noncompliance very seriously. Employers are required to withhold certain taxes—known as “trust fund taxes“—from their employees’ wages and remit them to … Read more
A Business’s Guide to Completing IRS Form 433-B
If your business is grappling with tax debt, you might find yourself required to submit IRS Form 433-B, also known as the Collection Information Statement for Businesses. This form is … Read more
IRS Reopens Voluntary Disclosure Program For ERC Claims Until November 22, 2024
In a significant move announced on August 15, 2024, the IRS has reopened its Voluntary Disclosure Program (VDP), providing businesses with another opportunity to rectify incorrect Employee Retention Credit (ERC) … Read more
How Long Can the IRS Pursue Unfiled Tax Returns?
When it comes to taxes, many people worry about the statute of limitations, especially if they haven’t filed a tax return. While this should be the least of their concerns, … Read more
If You Owe Taxes, How Long Do You Have to Pay?
Owing taxes to the IRS can be scary, especially if you’re unsure about the timeline for payment. The IRS provides several options for taxpayers who owe taxes, allowing you to … Read more
IRS Red Flags for Employee Retention Credit Claims: What Businesses Need to Know
In a July 2024 article published by the IRS, additional warning signs have been identified for incorrect Employee Retention Credit (ERC) claims. These updates come as part of the IRS’s … Read more
ERC Claims Error? Here’s What The IRS Wants You to Do
If you suspect inaccuracies in your ERC claim, the IRS has outlined several options to help you correct the issue and avoid potential penalties and audits. Here’s a detailed guide … Read more
How to Get Your Tax Transcripts: A Step-by-Step Guide to Form 4506-T
When dealing with taxes, whether for personal financial planning, applying for loans, or resolving disputes, you may need to obtain a tax transcript from the IRS. This blog post will … Read more
Power of Attorney: Who Can Represent You Before the IRS?
When dealing with tax matters, it can often be beneficial to have a qualified representative act on your behalf. The IRS allows several types of professionals and individuals to serve … Read more
Filing Taxes on Investment Sales? Use IRS Form 8949 (Here’s How)
Tax season often brings a flurry of forms and documents, each serving a specific purpose in the complex landscape of tax filing. One such form, often a point of confusion … Read more
Understanding IRS Form 9465: How to Request an Installment Agreement?
Tax season can be a daunting time for many individuals and businesses alike, especially when faced with the challenge of paying off tax liabilities in a lump sum. Fortunately, the … Read more
IRS Form 2848 Explained: How to Authorize Someone to Represent You
When it comes to navigating the complexities of taxes, sometimes you need a little help from someone you trust. This is where IRS Form 2848, also known as the Power … Read more
What You Need to Know About IRS Notice CP210/CP220
When the IRS identifies discrepancies or adjustments needed for a specific tax year, they notify taxpayers through Notice CP210 or CP220. These notices are typically sent to businesses, informing them … Read more
IRS CP91 or CP298 Notice: Final Notice Before Levy on Social Security Benefits
From our previous blog post, we learned that it is indeed possible for the IRS to garnish Social Security benefits through the Federal Payment Levy Program (FPLP). This program allows … Read more
Update on ERC Processing Delays (June 2024)
There’s a new update as of Thursday, June 20, 2024 regarding the IRS’s processing of ERC claims. This comes via an announcement directly from IRS Commission Danny Werfel. The new … Read more
Understanding the IRS Substitute for Return (SFR)
Tax season can be overwhelming, but failing to file your tax return can lead to even bigger issues. If you don’t file your return, the IRS might step in and … Read more
Are Tax Liens Public Records?
Yes, tax liens are public records. When the IRS files a Notice of Federal Tax Lien, it becomes a public document, signaling that the government has a legal claim against … Read more
