Eligibility for an Offer in Compromise
It sounds great. Make an offer to the Internal Revenue Service (IRS) to erase your entire tax bill! It is not that simple. If you …
What is an Offer in Compromise?
Scenario: you receive a tax bill from the Internal Revenue Service (IRS) for a staggering amount. You think to yourself: how am I ever going …
Businesses and Taxes
According to the Small Business Administration’s Office of Advocacy, 99.9% of all the businesses in the United States are small businesses, translating into a total …
Individual Income Tax – a necessary “evil”
Almost no one is excited about paying individual income tax. First, it is time-consuming. The research, reporting, calculations and the filling out of tax paperwork …
Collection Due Process is a last chance for tax resolution
The Trust Fund Recovery Penalty (TFRP) can be avoided by ensuring that all employment taxes are collected, accounted for and then sent to the IRS …
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The Dreaded Trust Fund Penalty Assessment Interview – continued
Previous blogs regarding employment tax resolution have covered the payroll taxes, Trust Fund Recovery Penalty (TFRP), Trust Fund Penalty Assessment and an introduction (Part 1) …
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The Dreaded Trust Fund Penalty Assessment Interview
As stated in previous blogs, the Trust Fund Penalty Assessment Interview is a tool that the Internal Revenue Service (IRS) uses to determine who is …
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Payroll Taxes Must Be Collected and Deposited
Owning and operating a small business is no easy task. There are many tasks to accomplish … many “hats” to wear. Inventory, customers, services and …
Introduction to Payroll Taxes
So, you have decided to start your own business. Great! Congratulations! According to the Small Business Administration, there are 31.7 million small businesses in the …
Business Taxes: Paying Yourself – Corporate Officers & Partners
According to the IRS Page Paying Yourself, as of February 26th, 2021, the procedures for compensating yourself for your efforts in carrying on a trade …
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Business Taxes: Employing Members of the Clergy
If you’ve been keeping up with our recent blog posts in the Bullseye Tax Relief Business Taxes blog series, you’ve been seeing all the different …
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Business Taxes: Employing Spouses – One employed by another
In our recent posts in the Bullseye Tax Relief Business Taxes blog post series we’ve been discussing the different IRS tax implications associated with the …
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