Category Archives: Tax Defense
How To Avoid CARES Act Penalties If You Have A Small Business
Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to help small businesses survive pandemic-related setbacks. Unfortunately, if you’re like some small business owners, you’re reluctant to apply. The application, submission, and compliance guidelines are new and often complex. When added to…
Can You Stop An IRS Levy?
Failing to complete your tax return completely and on time can cause huge penalties against you. Yet around 5% of Americans do this every year – that’s 7 million people. In fact, in 2009 the IRS said that around 8.2 million people in America owed…
How To Appeal A Rejection On Your Penalty Abatement Request
Perhaps you failed to file your tax return on time. Or maybe you filed on time but did not send your payment promptly. Whatever the reason, you’ve requested a penalty abatement, and the Internal Revenue Service has rejected that request. Why was it rejected, and…
Is Tax Evasion A Felony? Critical Insights You Must Know
Key Takeaways: Tax evasion, a felony with intent to avoid taxes, can lead to fines and prison. Tax fraud differs from evasion in methods and intentions. Convictions bring fines up to $100,000 ($500,000 for corporations) and five years in prison. Willful evasion is crucial in…
Your Guide To Successful Tax Dispute Resolution
Ever been blindsided by a tax dispute resolution? You’re not alone. Imagine standing at the edge of a financial precipice, staring into an abyss of complex tax codes and seemingly endless paperwork. Standing at the edge of financial uncertainty, one can feel overwhelmed by an…
Everything To Know About The IRS Criminal Investigation Division
The Internal Revenue Service Criminal Investigation Division (IRS-CI) serves the United States’ public by scrutinizing potential criminal activity of the Internal Revenue Code and other related financial crimes. These investigations aim to ensure compliance with tax law and provide the public with confidence in the…
6 Reasons To File Form 2848 AKA Power Of Attorney
Dealing with the IRS is rarely easy. Procedures may not always be clear, and laws can get complicated fast. Communications can be especially difficult if you are being audited, have an unpaid tax balance, or are facing a court summons regarding your taxes. You have…
The IRS Says You Have Insufficient Proof Of A Charitable Donation — Now What?
By making a charitable donation, others benefit, but so do you. The federal government gives charitable organizations and donors favorable tax treatment to support charities. Charitable contributions are tax-deductible, so taxpayers may reduce their tax obligation by claiming an itemized deduction on their tax return…
What To Do If The IRS Is Disputing Your Itemized Deductions
Approximately 196 million federal tax returns are filed in the U.S. every year. Of those, around one million — or .5% — are subject to audit, which is an additional examination of the return, the deductions filed, and the amount owed or returned to the…
5 Steps To Stopping Student Loan Wage Garnishment
Student loan wage garnishment can cause a host of challenges if collectors seize your tax refund or garnish your wages, making it impossible for you to pay your bills. Luckily, you have options for stopping it and setting yourself up for higher levels of overall…
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