One of the biggest challenges we’re seeing as a result of the Coronavirus pandemic is one of the oldest – scams. Just like the age-old IRS scams that creep up every year, the lure of easy money and desperate people create a fertile environment for opportunists.  Unfortunately, COVID-19, along with so much incorrect, dated, or… Read More

This tax season we saw an increase in clients who took side jobs with companies like Uber, Lyft, and UpWork.  In this month’s newsletter, we’ll take a deep dive into the new “gig” focused economy that many “regular” wage earners are playing a role in. What a lot of folks forget about – until it’s… Read More

Nearly every week, we read about another cyberattack in the news – big companies, small companies, individuals – and millions of hacked accounts. How safe is your stuff, really? Well, don’t unplug your network and break out the old paper ledger yet.  By its very nature, accounting and bookkeeping software is secured with the same… Read More

We get these questions all the time from people who are ready to retire and are eligible to receive Social Security benefits. One of the things that you want to understand ahead of time is whether t those retirement benefits are taxable or not. The short answer is… It depends. Here are some things to… Read More

Tax professionals and the IRS have received numerous reports around the country of scammers sending a fraudulent version of CP2000 notices for tax year 2015. Generally, the scam involves an email that includes the fake CP2000 as an attachment (an IRS tax bill related to the Affordable Care Act}. The issue has been reported to… Read More

In an effort to make it easier for thousands of small business owners to set up payment plans, the IRS is testing expanded criteria for streamlined processing of taxpayer requests for installment agreements. The test is scheduled to run through September 30, 2017. During this test, more taxpayers will qualify to have their installment agreement… Read More

One of the biggest fears I encounter in helping people with IRS tax debt is, “The penalties are gonna kill me.” In case you haven’t heard the horror stories, the IRS charge can charge dozens of different types of penalties.  The three that we most commonly talk about are the late filing penalty, the late… Read More

Jack Ventola, the owner of National Fish & Seafood, was arrested in November 2015 for failing to declare and pay taxes on more than $2 million of income. The indictment against Ventola alleges that Ventola used the services of a temporary labor company named Continental Labor Team, which Ventola controlled. He allegedly prepared false invoices… Read More

What exactly does “pennies on the dollar” refer to? It’s a reference to the IRS Offer in Compromise program, which allows eligible tax debtors to pay the IRS an amount of money that is less than what they owe in order to wipe out their entire tax liability. In advertising, you’ll hear companies talk about… Read More

It’s the final two weeks of the tax season and millions of taxpayers are scurrying to get their taxes done before the deadline. Unfortunately, some of these last-minute filers will find out they owe Uncle Sam. If you have a tax bill for 2016 that you can’t quite pay, you do have options. Even if… Read More