100+ Years of Combined Tax Resolution Experience.
Every month, our tax attorneys and case managers work hard to help our clients settle their tax liability once and for all. Some of our clients struggle with bank levies or wage garnishments, while others owe money due to owning a small business. Here are just a few of the clients we were able to help this month.
Case #1: One of the first clients we were able to help this month owned a successful Drywall business. With any business comes tax requirements and if you’re not careful, it can be easy to slip into tax trouble. Our client had gotten behind on his tax payments and ended up owing close to $100,000 to the IRS. It was after the IRS started garnishing his paycheck that our client decided to ask for our help. The first thing we did was gather his financial information. The IRS will always ask for bank statements, bills, paychecks and other financial information before they will start talking about payment arrangements. Once we were able to get his payment information together, we were able to get the garnishment on his wages released and then placed him into Currently Not Collectible status to prevent further levies from happening. After we were able to make sure our client wasn’t facing any levies, we negotiated a Partial Payment Installment Agreement for $25/month. This not only helped our client resolve his tax issue, but it ended up saving him around $90,000.
The Internal Revenue Service (IRS) has announced the end of a two-year-long automated collection system pause and started issuing a new notice called LT38. LT38 notices inform taxpayers that the IRS has assumed normal operations. It also updates outstanding balances and explains what to do if you agree or disagree with the content. Additionally, the federal agency...
Nevada sales and use tax laws require businesses to collect and remit sales tax when they meet specified criteria. Where the business owner does not collect sales tax, the buyer must pay use tax to the Nevada Department of Taxation. It’s vital to know which products or services are taxable and the rules on exemptions. Additionally, learning...
A 1099-C form is used for reporting debt cancellation as income to the Internal Revenue Service (IRS) and the individual or entity receiving the canceled debt. It is crucial for tax reporting and compliance. Key aspects of this form include information that affects an individual’s annual tax return and when to file or send it...
The winter holidays are fast approaching, and employers across the country are preparing for their yearly office parties. If you’re thinking of celebrating your workplace, you might be eligible for more tax deductions than you realize. Are company holiday parties tax-deductible? The simple answer is yes, as long as they meet a specific set of...
There are many times when life throws obstacles at you, especially when you least expect it. Sometimes things happen in people’s lives that cause them to not file their tax returns on time – or even at all. This is exactly what we are here to help you with, and for our first client we...