When borrowing money taxpayers often ask if the interest will be tax deductible. The answer to the question can be complicated and you’ll learn that not all interest you pay is deductible. The rules for deducting interest depend on whether…
Read More
Some taxpayers who come to us seeking an IRS tax settlement also owe state income taxes. Each state has its own rules and regulations to resolve back taxes. For those taxpayers who have Georgia tax problems, you should know that…
Read More
Many tax penalties are substantial and can significantly increase the amount you owe the IRS. Penalties can be assessed for various reasons, with some resulting from a taxpayer’s carelessness, overstatement of deductions, failing to report income, or procrastination. (more…)
Read More
In April, the IRS began mailing letters to a small group of taxpayers whose past due tax accounts are being assigned to one of four private debt collection agencies. The program will expand to thousands of other taxpayers later in…
Read More
Are you in need of IRS tax relief services? Here are 10 of the most frequently asked questions by taxpayers seeking IRS tax debt help. (more…)
Read More
If you’re a business owner with highly appreciated business or investment real estate there is a tax planning strategy you should know about before you consider selling your property. It is a Section 1031 “like kind” exchange. (more…)
Read More
Have you received an IRS notice or letter and are afraid to open it? Don’t worry; many of these letters can be resolved easily and painlessly. Every year, the IRS sends millions of letters and notices to taxpayers requesting payment of taxes, notifying…
Read More
We’ve previously written about a law enacted in December 2015 that authorizes the Secretary of State to deny the issuance or renewal of passports to “seriously delinquent” taxpayers. The purpose of the law is to use travel as a way…
Read More
This is the final blog in our three part series discussing common mistakes made when submitting an Offer-in-Compromise. Retaining the services of a qualified tax resolution professional will help you avoid these errors. (more…)
Read More
In our previous blog we discussed the mistake of not considering the remaining statute of limitations on collections before filing your Offer-in-Compromise. Here we discuss mistakes made in calculating a taxpayer’s future income which is used in determining your Offer…
Read More