Importance of Paying Payroll Taxes
What Are Payroll Taxes? Payroll taxes are a collection of taxes that employers are required to withhold from their employees’ wages and remit to various government agencies. These taxes are
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Commingling: The Dangers of Mixing Business and Personal Expenses
Business Expense vs. Personal Expense According to IRS Publication 535, a business expense must be “both ordinary and necessary” to be deductible. An “ordinary” expense is one that is common and
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What Happens to Your Tax Debt When You Die?
It’s critical to determine how your taxes – and any existing problems – can upset your postmortem financial blueprint.
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Here’s What to Do with an IRS Notice of Deficiency
What is an IRS Notice of Deficiency (CP3219A)? An IRS Notice of Deficiency, or Notice CP3219A, is sent when there is a discrepancy in your tax information. This IRS notice
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Tax Balance Due: 3 Steps to Address IRS Notice CP14
1. Review the Notice CP14 Details When you receive an IRS Notice CP14, don’t ignore it. Carefully review all details to understand why the IRS sent it. The notice will
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Why Did The IRS Take My Tax Refund?
What is a Tax Offset? A tax offset occurs when the IRS redirects a taxpayer’s refund to cover unpaid taxes or certain other government debts. Although it’s disappointing to have
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4 Questions to Ask When Filing a Paper Tax Return
But what if you prefer to do your taxes the old-fashioned way? No worries. The IRS will still accept paper tax returns. Just be sure to address the following questions
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