Payroll Tax vs. Income Tax: What You Need to Know
Both payroll tax and income tax are essential parts of how the IRS collects revenue, but they work in very different ways. Knowing how each one functions and who is … Read more
This category features articles and information about business taxes, including employment taxes, personal property, etc. If you are a small business owner or involved in managing a business, then this category will feature tips to help ensure your compliance with the IRS regulations regarding business and employment taxes.
Business Taxes
Can a Business Qualify for Currently Not Collectible (CNC) Status Due to Payroll Tax Debt?
When a business can’t pay its tax debt, one possible relief option is Currently Not Collectible (CNC) status. This temporary protection stops the IRS from enforcing collections, like levies or … Read more
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
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
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
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
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
Guide to IRS Form 941: Quarterly Tax Reporting for Employers (Updated 2024)
For many businesses, dealing with taxes can often feel like a puzzle, filled with complex forms and ever-changing regulations. Among the multitude of documents employers need to grapple with is … Read more
Top IRS Audit Triggers for Small Businesses
An IRS audit: few things strike as much terror in the hearts of small business owners than this simple phrase. You try to do your taxes accurately and on time, … Read more
Steven N. Klitzner, P.A. is a tax attorney based in Miami, Florida. He has been practicing tax law for over 40 years, and currently holds a 10.0 rating by Avvo. Mr. Klitzner was appointed to the IRS Service Advisory Council in 2021 and is... 
