rushcarrie 
Starting a business is no easy feat. In addition to the permits and paperwork involved, business owners have far more tax responsibilities than the average employee. It becomes your job to ensure that employment taxes are adequately withheld from your employees’ wages, even if your only employee is yourself. Furthermore, you need to pitch in …
No one likes an audit. And no one likes the IRS. So, it shouldn’t be a surprise that combining the two usually results in a terrifying combination. But before you freak out about your notice of an upcoming audit, you should know that it’s nowhere near as bad as you might expect. Most IRS audit …
Trouble with the IRS? You may be tempted to deal with it yourself – but before you get in over your head, it would be wiser to consider professional tax resolution services. While the IRS works through a code of conduct that holds the taxpayer’s rights in high esteem, it can still be a daunting …
If you face a substantial tax debt without the means to pay it off, even in a few years’ worths of monthly installments, you may want to consider an offer in compromise (OIC). An offer in compromise is a process through which you can negotiate a lower total tax debt with the IRS. However, it isn’t …
When preparing a federal tax return, you can choose between a standard deduction or several itemized deductions. In either case, a tax deduction is designed to reduce a taxpayer’s tax liability. This is primarily to reimburse losses, incentivize investment, and reduce the tax liability for low-income households. Your standard deduction depends on your filing status, while …
How much do you owe the IRS, and at what rate will your debt grow? These are critical questions, especially when dealing with the IRS. Tax debt is a few types of debt that can’t typically be avoided even with bankruptcy, and the IRS is a powerful creditor. Let’s look at what penalties the IRS …