If there is a discrepancy in wage reporting on your federal vs. state unemployment taxes, a misclassification of employees, or if you have unemployment accounts in multiple states, you may be in danger of receiving a state unemployment audit. In addition, the U.S. Department of Labor requires state agencies to randomly audit a percentage of…
A Tax Lien Withdrawal is technically considered a third tier of the Fresh Start Program. While you can pay off your tax debt through full repayment to have your tax lien removed, the Fresh Start Program offers a second way for you to have your tax lien removed. If you request to have your tax…
This page has been updated for 2022 tax return guidelines. Did you fail to file your tax return this year? You’re not alone. Over 175 million individuals did not file a tax return this year alone. While many of these individuals fall under an exemption, many more simply failed to file for other reasons. Requirements to a…
Those who owe a tax debt to the IRS will typically also have a state tax debt. There are many ways to gain a tax debt with a state; however, the most common way it occurs is when an individual works and lives in separate states. Filing your tax returns with an inexperienced accountant or…
This program provides taxpayers a form of relief by entering into a repayment program that can last up to six years. Taxpayers make monthly payments towards their tax liability that is based on their ability to pay, current income, and liquid assets. At the end of the approved time period, the tax debt will be…
The Offer in Compromise program is the more frequently known debt relief program. You may have heard many advertisements with the catchphrase, Pennies on the Dollar. With an Offer in Compromise, a taxpayer can present the IRS an offer of how much they are able to pay off their tax debt. If the IRS agrees,…
Most states have a sales tax on products and it’s typically collected by the state’s Department of Revenue. Usually, this type of tax debt is triggered by a sales tax audit. The state will often request accounting statements, state and federal returns, invoices, purchase orders, and any other financial statements from the business. Because sales…
As an attempt to close the Tax Gap, the IRS can audit a business by worker classification (employee vs. independent contractor), fringe benefits (non-monetary pay for employees), executive compensation (both monetary and non-monetary pay for executives), and reimbursed expenses (i.e.; travel expenses). The best way to avoid this is to pay close attention to the IRS…
Filing taxes can be a complex matter. The tax laws change often and understanding the minutiae takes years of experience to be able to decipher the verbiage the IRS uses. Not only that but if you have attempted to file your tax return to discover a large debt, you may not have used or have…
Typically, acquiring a tax debt comes with additional interest and penalties. However, the IRS will waive some or all of the specific penalties under certain conditions. Some of the penalties eligible for being waived are, but are not limited to: Failure to File Failure to Pay Failing to Deposit One of the benefits of applying…
