tax consultant

IRS’s Top 3 Targets for Small Biz Owners (2024)

By J Anton Collins / December 11, 2023

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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What Is the IRS “Trust Fund Recovery Penalty?”

By madwire / October 23, 2020

The name might imply that a trust fund recovery penalty only affects the elite, but it actually has nothing to do with trust funds. All businesses go through hard times now and then. When things start to get really bad, business owners might be tempted to cut corners to ensure that they keep their sinking…

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Is Tax Law Offices Right for You?

By madwire / August 13, 2020

  Is TAX LAW OFFICES the Right Firm for You?   Tax Law Offices has handled some of the most threatening tax audit, collection and investigation cases. We see more emergency tax cases because Tax Law Offices is more specialized: Our typical case involves liability greater than $50,000 in tax and penalties.  We focus on…

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Tax Resolution for Business: Satisfying the IRS Trust Fund Penalty

By madwire / May 15, 2019

The IRS has measures in place to get paid, just like any other business. In order to ensure that businesses appropriately withhold — and pay — their employees’ income, Social Security, and Medicare taxes, there are, of course, penalties. Any business that willfully fails to pay the required payroll taxes is going to be subject…

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Handling IRS Audits – IRS Information Document Request (Form 4564)

By madwire / March 8, 2019

As a Certified Public Accountant, you may represent your clients in an IRS tax audit, and you need to know how to handle the IRS Information Document Request (IDR). It’s important to know that there are several different types of IDRs also known as Form 4564. More specifically, each IDR Form 4564 can be different…

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Handling IRS Audits – Mistakes On Return By Your CPA

By madwire / January 8, 2019

It’s common to assume that when you hire a Certified Public Accountant (CPA) that your taxes are going to be error free. In a large majority of cases, your taxes will be safe in the hands of a CPA. But what happens when you are notified of an error or you discover an error that…

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Handling IRS Audits – Employee vs Contractor Issues

By madwire / December 25, 2018

It is your responsibility as an employer to classify your workers, whether they’re an employee or independent contractor. These classifications determine how much you need to withhold as an employer. If you classify an individual as an employee, but you do not withhold and pay your proper employee taxes, the IRS will keep you on…

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