business tax lawyer downers grove
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.…
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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…
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TAX LAW OFFICES, INC. MAINTAINS THE BETTER BUSINESS BUREAU HIGHEST A+ ACCREDITATION Naperville, IL – December 4, 2023 – Tax Law Offices and StopIRSproblem.com is pleased to announce today that it has again met 100% of the Better Business Bureau’s standards. The firm that is referred by CPAs to handle business tax problems continues as…
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Do I Need a Lawyer for the IRS CP2000 Audit? Everybody has to watch their expenses. Always consider the best (and worst) options. The “proposed” tax appearing on the CP2000 notice is not permanent. It can be contested. Usually, you only have one opportunity to respond to this CP2000 “proposed tax due” letter. Unfortunately,…
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How to Answer the IRS Letter CP2000 With the Letter CP2000, the IRS wants to audit 100% of people who have not reported all income. Using its new tech tools, the government can now choose many more people to be audited. The CP2000 letter is the IRS’s official notice that you are under audit…
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The Sneaky 20% Accumulated Earnings Tax on Your Profits If your business is successful, this could cost you another 20% (maybe more) of your profits. This article relates to profitable businesses that have accumulated some savings. This Accumulated Earnings Tax (“AET”) is usually discovered in IRS tax audits. Be aware that the IRS…
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Can You Believe This? The Newest on Fake Charities! This post is to help anyone. I want to especially advise our seniors, and friends who may be challenged with speaking English. These matters. There are charity causes created by disease, weather, disaster, and even war that are actively seeking help from the public. And…
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Am I Taxed on the ERC Refund? Here are three ways this frequent question about an Employee Retention Credit refund is asked: “Do I have to pay taxes on the ERC refund? “ “Does the amount become added back into my income? “ “Is the government going to tax me on a…
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If the Government Shuts Down, Do I Still Have to Pay Taxes? First Thing: How Does a Government Shut-Down Affect the IRS Without an approved budget to, in part, fund the governmental operations, the U.S. government operations may become suspended effective October 1, 2023. This would be the 4th of these events in…
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IRS Employee Retention Credit Freeze 2023 IRS has placed a “moratorium” (or freeze) on the Employee Retention Credit application processing for the remainder of 2023. This means that IRS has frozen handling all new Forms 5884-A submitted for the ERC. Until further notice, this ERC application freeze remains through December 31, 2023. Why…
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