After spending years planning and saving for the golden years of life, most individuals might not want to let anything disrupt their plans for retirement. Unfortunately, things don’t always go as intended and those who struggle with overwhelming tax debts might have...
Year: 2022
Knowing one’s options after receiving a notice of deficiency
Facing overwhelming financial obligations can be stressful under any scenario and issues with debt can trigger various hardships in life. Individuals in Georgia who feel that they are current on tax obligations only to receive a notice of deficiency claiming they owe...
How can you get a clean slate with the IRS?
Financial problems can affect anyone, at any time. You may find yourself in a place where you are unable to manage your financial responsibilities, including paying your taxes. Illness, an injury that prevents you from working, loss of your job and many other factors...
New laws may lead to tax fees for items sold online
While it might not be uncommon for those who constantly sell items online to encounter tax concerns, this didn’t always apply to those who sold a single item for a quick profit. However, recent changes to tax laws have changed the way online vendors report sales and...
An agency’s recognition of a pandemic’s impact
An unexpected notification from the Internal Revenue Service in a mailbox brings feelings of dread for any taxpayer. They fear opening the envelope and reading what they believe to be dire news that will result in a serious bill with potential penalties. Those getting...
IRS is set to ramp up audits of cryptocurrency claims
If you trade in cryptocurrency, you already know that 2022 was a bad year for the market, with many top cryptos worth a fraction of what they were a year ago. But that does not mean you will automatically be safe from IRS scrutiny. When you suffer a net capital gains...
Issues with tax debt could affect one’s life in various ways
While it may be no secret that dealing with periods of monetary hardship can be stressful, sometimes the outcome of such a scenario could be far more daunting. Issues with debt can disrupt various areas of one’s life and even increase the risks of physical or mental...
Eligibility for innocent spouse relief with tax debts
While there are many individuals who file joint taxes with their spouses, this doesn’t necessarily mean that they are always fully aware of every detail of the process. If one’s spouse or former spouse fails to accurately report information or claims improper...
Possible tax concerns for nonprofit organizations
Addressing the topic of taxes may prove essential to creating an effective strategy for virtually any type of business entity. While nonprofit organizations might benefit from federal tax exemptions, there may still be a variety of steps these entities must take to...
Mitigating the risks of business tax audits
There may be many business owners who feel that tax planning might be one of the most daunting aspects of owning and operating a company. The complex nature of such a topic might leave many entrepreneurs with concerns that they might make mistakes that could lead to...