Now that tax season has ended, many hard-working Americans may be overwhelmed by a hefty tax bill. Fortunately, the IRS offers an Offer in Compromise (OIC) option, which allows taxpayers to settle their tax debts for less than the total amount owed. However, qualifying for an OIC is not always easy, and it’s essential to…
For Immediate Release – June 7, 2023 On May 19th, 2023, Justice Tax, LLC held a bowling contest. What was the prize? The winning team got to choose which charity the company would make a sizable donation to. Employees were assigned to the Blue Team or the Red Team. The company added up the…
Tax season can be stressful for anyone, but it can be particularly challenging for 1099 workers and taxpayers over the age of 30 with bills, kids, and other responsibilities. Unfortunately, missing the deadline to file your 2022 tax return can have dire consequences, including IRS penalties and interest, back taxes, and back tax debt. In…
What are the Consequences of Back Tax Debt? When it comes to tax debt, procrastination can have serious consequences. Unfortunately, many people fail to take the time to do their taxes or, worse, let them lapse and end up dealing with the repercussions, which could involve legal proceedings. Understanding the risks involved in not addressing…
Tax season can be a stressful time for anyone. With all of the paperwork, deadlines, and changing regulations, it can be challenging to keep up with everything. It can be even more difficult if you are facing a complicated legal situation, such as an Internal Revenue Service (IRS) audit or a potential tax dispute. This…
When it comes to filing taxes as a 1099 contractor, it’s essential to choose the right tax professional to ensure that you get the most out of your taxes and don’t end up owing Uncle Sam more than you should. It’s always a good idea to stay on top of what you owe, whether you…
The 2023 tax season is upon us. Tax preparation starts as early as January 3rd, 2023 however, the IRS typically makes the official announcement that they will start accepting returns by the end of January. Individuals and owner-operators must file their taxes or request an extension by the deadline of April 15, 2023. Do you…
A nonresident alien is an individual who is not a U.S. citizen and does not have a green card or passed the substantial presence test. For a nonresident alien, taxes are charged differently than a U.S. citizen. Depending upon the nature of the employment conducted by the nonresident in the U.S., specific tax rules apply…
A tax haven is a country, state or region that charges substantially low or negligible taxes to corporations and individuals. Mostly used by the wealthy and large corporations, tax havens reduce the tax liability of a person or a business in the country in which they reside or operate. On the other hand, a tax…
What is the Difference Between Inheritance Tax and Estate Tax? The property and assets that a person leaves behind after death may attract estate tax and inheritance tax. How much inheritance or estate tax is charged depends on the state in which you reside, and the value of the property/money left behind. It is essential…
