The Internal Revenue Service (IRS) has recently taken a significant step in combating fraudulent tax practices by disallowing over 20,000 Employee Retention Credit (ERC) claims. This move underscores the IRS’s commitment to maintaining the integrity…
What does SFR mean? Hey, Chicagoans, ever opened your mailbox to find a letter from the IRS and felt your stomach drop to your shoes? Yeah, that’s the SFR—the Substitute for Returns—rearing its ugly head….
Hey, you up? Yeah, I figured. It’s that 3 a.m. dread, isn’t it? The one where you’re lying in bed, staring at the ceiling, and your brain decides to throw a rave party, headlined by…
Divorce is a complicated process that affects various aspects of life, including your financial situation. One area that often gets overlooked is the impact of divorce on your taxes. If you’re already dealing with unfiled…
Audit. The word alone may strike fear into the hearts of taxpayers. However, understanding the ins and outs of the process, including the timeline, can significantly reduce anxiety and lead to a more favorable outcome….
Just when you thought you were getting a grip on your back taxes, the IRS throws another curveball into the mix. With words like “tsunami” and ”rampant fraud” making headlines, the IRS has announced a…
In a world where privacy and data protection are central to individual and business security, recent revelations concerning major tax preparation firms have created a stir. Evidently, in the past two years, three notable tax…
Tax Court Petition Deadlines & Your Rights After Culp: Understanding the Shift Decoding the IRS Notice of Deficiency and The Deadline Dilemma The world of taxes is complicated, yet imperative to navigate. Let’s delve into…
Protecting the financial integrity of your business requires a comprehensive approach to security. In recent years, an alarming trend of ’employee retention scams’ has been observed, prompting businesses and tax-exempt groups to exercise extra caution…
By Kelly Hanley, Esq., Tax Attorney Receiving a CP14 Notice from the IRS, regarding back taxes can be a cause for concern. You should understand the implications of the notice and take appropriate action to…