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100% Penalties

Am I Liable for My Company’s Taxes? You notice that a lot of tax notices are coming in. You try to read the notices, but the bookkeeper whisks them away, telling you they are nothing. Weeks later the IRS walks in the front door, as the bookkeeper...

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IRS 10-Year Statute of Limitations on Collections

IRS 10 Year Statute of Limitations on Collection What is it? If you’ve received a tax assessment from the IRS, you should be aware that they have 10 years to collect the money they say that you owe.  This is called the Collection Statute, and 10...

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Substitute for Return

Substitute for Return In case you haven’t heard, here’s the news: you have a legal obligation to file a tax return – it’s inescapable. Here’s the bad news: If you don’t file a tax return (even after receiving several letters from the IRS...

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Should We File Jointly or Separately?

SHOULD WE FILE JOINTLY OR SEPARATELY? Relationships can be taxing.  Being married is not easy.  Well, OK, maybe being married is easy for you – but at any rate, making tax decisions when you are married may not be so easy.  What to do?...

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Taxes on Extra Income

As you think about your 2013 taxes, here are a few pointers on that ‘extra income’ that you may think the IRS doesn’t know about.  You may have to think again! Extra Income Like many Americans you may have felt the income pinch in the last year...

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Tax Relief Through Bankruptcy

You’ve heard that it’s Impossible.  However, it may be possible…but it’s complicated.  Here are some of the issues: There is something called the ‘3 year rule’.  What the heck is that?  Well, if you could have your tax debt discharged, it would...

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Time For a Social Security Check-Up

Fiscal Cliff Deal. Health Care Reform Bill. Payroll Tax Cut. Is your vision starting to blur? There are so many financial issues out there, it can seem like everything is beyond your control. But there are some pieces of your personal financial...

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Should you adjust your Payroll Taxes?

We all do it; we procrastinate on anything having to do with taxes.  Unfortunately we often hesitate to act on even things that can save us big bucks in the end.  Well, here’s one area where you can act now, and see the benefits within the year...

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December Tax Moves

As we move to the end of the calendar year, here are some things to think about to save yourself headaches when tax time rolls around… Extra Income Like many Americans you may have felt the income pinch in the last year, or you may be doing...

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Tax Identity Theft!

Identity theft is concern for most citizens, and we are bombarded with ads, suggestions and warnings every day. Perhaps you are reacting to this by being extra careful with your debit card at gas pumps or at restaurants. That’s a good start, but...

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Tax Preparation Tips

It’s Tax Time – you see it everywhere; ads for do-it-yourself tax programs, strange documents coming every day in the mail, papers piling up… it’s enough to make you want to bury your head in the sand, right? Well…don’t. Do yourself a Big Favor...

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