IRS tax lawyer

Do I Have to Close Business to File Offer-in-Compromise, Tax lawyer, Tax Law Offices, (Napierville, IL)

Do I Have to Close My Business to File an Offer-in-Compromise?

By J Anton Collins / November 15, 2021

Do I Have to Close My Business to File an Offer-in-Compromise?   Business owners thinking about filing an Offer-in-Compromise often want to know if they have to close their business in order to file their offer.   This is our Morning Coffee Series, and we’re going to cover that question today.   Do I have…

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Tax Debt Lawyer Verbiage and What It Means

By Margaret Sharemet / May 20, 2021

When it comes to tax debt, surrounding either you or your business, it can be extremely overwhelming to know where to begin. From discussing the legalities and hiring a lawyer to implementing and doing your own research, there are many terms that can pop up that you might not know. Today, we’re going to be…

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Can I Deduct Business Expenses Paid With a PPP Loan?

By madwire / March 19, 2021

Can I Deduct Business Expenses Paid With a PPP Loan?   Yes, you can tax deduct those expenses, even if the loan was forgiven.   Congress has allowed the Paycheck Protection Program borrowers to deduct expenses paid with the loan. Most PPP loan borrowers used the program funds to pay wages, payroll tax expenses, utilities,…

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Will States Allow Me to Pay My Taxes Over Installments Like the IRS Does?

By madwire / November 6, 2020

If your business has been hit with a huge tax bill, take a deep breath. Even though you might be panicking on the inside, you have options. For federal taxes, the IRS is all too happy to let you make installment payments. Doing so ensures that they eventually collect all of the money owed to…

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How Resolving a Tax Lien Affects Your Credit Score

By madwire / September 18, 2020

The good news for anyone with a tax lien, is that it no longer will directly impact your credit score. Starting in 2018, the three major credit bureaus, Experian, TransUnion, and Equifax, decided not to include tax liens on credit reports. This means that having a tax lien put on your home by the IRS…

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3 Ways The IRS Can Disrupt Your Life

By madwire / September 27, 2018

You’re already struggling through life. The last thing you need is the IRS on your back about back taxes. It’s uncomfortable getting a letter in the mail from a faceless entity telling you that they will collect on the money you owe if you don’t pay them. It seems too awful to be true. At…

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6 IRS Tax Lawyer FAQs Answered

By madwire / September 13, 2018

When dealing with the IRS, it can be overwhelming. You don’t want to handle them alone. The complicated tax law combined with your elevated emotions around how much you owe and potential criminal charges can make the situation unbearable. These two reasons alone make it obvious that you need an experienced IRS tax lawyer you…

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When to hire a tax professional for an audit

By madwire / April 30, 2018

If you’ve just received a tax audit notification from the IRS, you’re not alone. You may have filed your taxes already and on time, but the IRS has found some discrepancies. Whatever the reason for the audit may be, it can be a stressful situation. Not only is understanding tax code cumbersome, but relying on…

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2 Actions A Tax Collector Can Take If You Don’t Pay Taxes

By madwire / April 16, 2018

Your IRS Tax Collector has much more power than the average federal employee. It’s a common misunderstanding that the IRS is an entity you can avoid. Although it may seem like a brilliant idea to not pay your taxes, avoid the IRS, and use all the “extra” cash you have to live your life, it’s…

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Owe The IRS? Let Our IRS Tax Attorneys in Naperville Help!

By madwire / April 2, 2018

It can be daunting to owe the IRS money. You spent the entire year working, only to have to pay more in taxes than you expected. You’re not alone. The best first step for anyone filing taxes is to actually file them and file them on time. If you’re going to owe money, the worst…

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