Payroll Tax First Step – Avoid the IRS Cliff
Payroll Tax First Step (Not a Cliff Dive) Your business might owe tens of thousands or even hundreds of thousands in payroll tax to the IRS. You might even feel like you’ve fallen off a cliff or drowning underwater. But remember, even when it seems there is no way to end the problem, there…
ERC Voluntary Disclosure Program (IRS) – Deadline March 22, 2024 to Bail Out
ERC Voluntary Disclosure Program (IRS) Deadline March 22, 2024 to Get Out Are you familiar with the March 22nd deadline for the Employee Retention Credit Voluntary Disclosure Program? Basically, if you received an Employee Retention Credit refund, and if you really were not entitled to it, the Voluntary Disclosure Program allows you to turn…
Find W-2 Forms for Bigger State Refunds
Find W-2 Forms for Bigger State Refunds Take a look at this IRS form W2. Most of us know that this form is important when preparing and filing your tax return. Every year the information from this form is included within your tax return. But also, attach this form to your federal and…
How to Choose Tax Professionals (Not Doughnuts)
How to Choose Tax Professionals (Not Doughnuts) Because it’s the beginning of the year, I want to discuss how to choose the right tax professionals to help you. We see advertisements constantly with companies that promise to get you the largest refund possible. Well, please be careful about that. This is why for the…
IRS Text Message Scam – Watch Out!
IRS Text Message Scam – Watch Out! The image shown is a text message sent to millions of American cell phones. It begins with the words “IRS Government”. The message goes on to state that: “The system detects an error in the calculation of your tax please complete the data for a tax…
How to Help Your Boss(3 Ways to be the MVP)
How to Help Your Boss with Tax Issues (3 Ways) This article is to help employees of companies with owners who are overwhelmed. This especially applies if you work for a struggling business that is having trouble keeping enough cash flow. Some of the signs of a struggling company may be: Payroll is often slow,…
How Do Tax Liens Affect Your Credit Rating?
Do Tax Liens Affect Your Credit Rating? This is a trick question. The Positives: Tax liens currently do not affect your credit score. Because of the Equifax case back in 2018, the credit bureaus stopped including tax liens on credit reports as derogatory history. Note: Before 2018, yes, tax liens definitely were…
Tax Law Offices is Ready for New Year‘s Changes at IRS (2024)
Tax Law Offices is Ready for New Year‘s Changes at IRS (2024) Orlando: We constantly improve our tax lawyers and technical support staff. This time the training conference was in Orlando FL, which is one of the most fun places in this country! Lots to do, lots to see. And there was a lot…
Why Tax Law Offices is Based in Naperville IL (2024)
Why Tax Law Offices is Based in Naperville IL (2024) Over the last 20 years, our tax defense and resolution services have called several Chicagoland areas home. Some may remember when we started on Dearborn Street in downtown Chicago. Others may have become part of the Tax Law Offices circle during our years in Schaumburg….
IRS’s Top 3 Targets for Small Biz Owners (2024)
IRS’s Top 3 Targets for Small Biz Owners (2024) Let’s talk about the Top 3 Targets the IRS is very concerned about coming into next year. Spoiler alert: each is related to payroll. #1 – Worker Classification (Form 1099 or W-2) You may have workers for whom you report earnings on Form…