Dec 27, 2022
Why Do Successful Business Owners Owe A Lot in Back Taxes?
This is primarily due to the habit of putting off the obligation to keep their books up to date, planning for due dates, and anticipating what is necessary to keep up with employment and sales taxes, especially the most common issue, income taxes. So if...
Dec 20, 2022
When you owe the IRS back taxes and fail to arrange payments, you risk the seizure of your property. The bureau typically collects payment through a levy or taking the money in your bank account, doing wage garnishments, levy retirement accounts, or Social Security benefits. The tax bureau can also seize your assets,...
Nov 15, 2022
Do You Owe the IRS over $100,000?!?
A six-figure debt usually causes panic, especially for small business owners. With the IRS, the longer you wait, the more interest, penalties, and potential for collections for actions against you.
There are three things you should do.
First, get a collection hold on your account....
Nov 10, 2022
Will new IRS agents target small businesses?
With an array of taxes that businesses have to pay, whether local, state, or federal —these can be pretty daunting for the busy and overwhelmed entrepreneur! 😱 What's more concerning is the expected increased crackdown of the Internal Revenue Service on small...
Nov 1, 2022
Will new IRS agents target the middle class?
With recent development that the IRS will receive increased funding of $80 billion over ten years, $45 billion will go towards enforcement of tax laws with a focus on adding human resources and modernizing technology.
Enforcement can mean more audits of businesses and more...