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A Quick Guide to IRS Form 843

Understanding the opportune moment to file for a refund or request an abatement holds significant importance for individuals looking to enhance their financial position. Whether rectifying errors, responding to changes in tax laws, or disputing unjust penalties and interest charges, this knowledge serves as a strategic tool in optimizing one’s…

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Understanding the IRS LT11 Notice

Receiving an IRS LT11 notice can undoubtedly elicit concern, yet sorting out the particulars is key to mitigating the associated apprehension. In this blog post, we will explain the contents of this notice, catering to those who may find themselves uncertain about its implications. By delving into the specifics, we…

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IRS CP14 Notice – What you need to know

Facing the IRS CP14 Notice can be nerve-wracking, but with a bit of understanding, you can navigate through it successfully. While the prospect of unpaid taxes can be worrisome, understanding the common implications of the CP14 Notice is vital. In this guide, we will explore the nuances of this notice,…

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IRS CP504 Notice – What is it and what does it mean?

The CP504 Notice from the IRS is a critical document that taxpayers must not ignore. Unlike the other preceding correspondences about outstanding tax debts, the CP504 Notice requires prompt attention. In this post, we will examine the details of this notice and uncover the reasons behind the urgency it carries.…

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ERC Audits: How to respond to increased ERC audits from the IRS

Introduction In a bid to support businesses affected by the pandemic, the IRS introduced the Employee Retention Credit (ERC). This refundable employment tax credit aimed to help businesses affected by COVID-19 keep employees on payroll. While this initiative has been a lifeline for many, the rise in ERC audits underscores…

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What To Do If You Forgot to File Your Taxes This Year

What To Do If You Forgot to File Taxes This Year

If you are like so many other Americans, filing taxes and meeting all deadlines can be a major source of stress. For months leading up to each tax season, the burden of gathering financial documents, navigating complex tax laws and ensuring accurate filings can feel overwhelming. The fear of missing…

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Tax Planning Tips for Small Businesses

Tax Planning Tips for Small Businesses

Tax planning is a critical aspect of running a successful small business. It involves making strategic decisions and taking proactive measures to optimize your tax liability, maximize deductions, and ensure compliance with tax laws. Small businesses face unique tax challenges and opportunities, and effective tax planning can help navigate these…

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How to Stop Wage Garnishments From the IRS

How to Stop Wage Garnishments From the IRS

Are you facing the daunting challenge of wage garnishment by the IRS? If so, you’re not alone. Dealing with wage garnishments can be a stressful and overwhelming experience, but don’t worry because you are far from alone in this struggle. Millions of Americans experience wage garnishment from the IRS, which…

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Most Common Payroll Tax Problems and How to Avoid Them

Most Common Payroll Tax Problems and How to Avoid Them

It’s no secret that filing your taxes can be complicated and daunting, but anyone who has ever filed taxes for a business knows that there is even more room for error when it comes to things like payroll taxes, the water can be even more difficult to navigate.  One of…

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IRS Installment Plan Versus Offer in Compromise

IRS Installment Plan Versus Offer in Compromise

Tax season is coming to a close and with that comes the dreaded IRS audit and collection letters. If you are one of millions of taxpayers who owe the IRS additional returns, don’t stress too much. The IRS collected nearly 5 billion dollars last year in nonreturn penalties alone. If…

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