Important Updates for Tax Year 2022 

Important Updates for Tax Year 2022 

Each year the IRS makes inflation adjustments for several deductions, the tax rate schedules, and a host of other tax provisions. While Congress continues to debate several tax issues including estate and gift tax changes, the IRS moved forward with its annual...
Filing Taxes as a Victim of Identity Theft 

Filing Taxes as a Victim of Identity Theft 

If you tried to electronically submit your tax return and the IRS kicked it back noting that you had already filed a return, you might be the victim of tax-related identity theft. Don’t panic but do immediately contact the IRS and plan to file a paper return as well...
IRS Cryptocurrency Tax Cases

IRS Cryptocurrency Tax Cases

While cryptocurrency transactions have yet to hit the IRS’s top list of tax scams, the agency has been watching the market for the past few years and making advances toward ensuring cryptocurrency transactions get reported and related taxes paid. From requiring...
What You Need to Know About Federal Tax Liens

What You Need to Know About Federal Tax Liens

Have you ignored an IRS notice that you owe tax debt? If so, the agency’s next step could be placing a lien on your property. A federal tax lien is a legal claim by the government against your assets that is filed when you have failed or neglected to pay your tax...
IRS Penalty Appeals

IRS Penalty Appeals

If you failed to file your tax return or didn’t pay your taxes on time, you will likely receive a CP501 or other IRS notice detailing the amount you owe, including penalties and interest. Most taxpayers assume the penalties are unavoidable, but you can successfully...
Tax Resolution for Back Taxes

Tax Resolution for Back Taxes

Back taxes refer to taxes from a prior year that were either fully or partially unpaid. The failure to pay could be intentional, for example, if a taxpayer didn’t have enough money to pay their bill and filed a return without payment. Or a taxpayer sometimes has...