January 31 Form W-2 and Form 1099 Filing Deadline – Now What?
Let Us Fix Your IRS Payroll Tax Problems Every year, employers have until Jan. 31 to submit the Form W-2 Wage Statements and Form 1099 for Independent Contractors with the government. Use the instructions for Form W-2 to guide you through the filing process. Tax Law Offices specialized in resolving IRS Payroll…
Top 3 Problems of Business Owners (and How to Cure Them)
How to Cure the Top 3 Problems of Business Owners The 3 most common concerns that I hear from business owners are not what you might expect. Self-employed people want to “get their finances in order”. And that can mean a few different things. This could mean more savings, better cash flow, or improving their…
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…
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….
Can You Repay Yourself Tax-Free from Business
Can You Repay Yourself Tax-Free from Business Question from Business Owners: If you made a loan to your new business, can you pay yourself back tax-free? In other words, are you going to be taxed when you pay back the cash that you invested into your small business. What About Me? Did…
Tax Law Offices Receives BBB Complaint Free Award!
Tax Law Offices Receives BBB Complaint Free Award! Tax Law Offices once again reached an annual milestone – the BBB Complaint Free Award for 2022. This honor is awarded to those companies that show the highest level of customer care in avoiding complaints through the Better Business Bureau (BBB). At Tax Law…
Completing Form 433-D Installment Agreement After IRS Audit
Completing Form 433-D Installment Agreement After IRS Audit First, let’s be clear: IRS audits are the worst!! After a tax audit, you may owe money to the IRS. Most people cannot pay off the amount due all off at once. In that case, the IRS offers a monthly payment plan called the Installment…
If You Pay Your Employees Under the Table Here Is What You Need to Know
If You Pay Your Employees Under the Table Here Is What You Need to Know If you are the owner of a business and you are paying your staff cash under the table, what consequences could you face if caught? First of all, you may think that no one will ever find out….
Illinois Notice of Proposed Tax Liability – 3 Things You Need To Know
Illinois Notice of Proposed Tax Liability – 3 Things You Need To Know Illinois business owners – If you’ve received a Notice of Proposed Tax Liability, you probably have questions. This article briefly answers the three questions you may have after receiving this notice from the Illinois Department of Revenue – Audit…