By Kelly Hanley, Esq. In an unprecedented move to alleviate the financial strain caused by the COVID-19 pandemic, the Internal Revenue Service (IRS) has announced a significant penalty relief initiative. This initiative aims to aid…
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…
By Kelly Hanley, Esq., Tax Attorney Introduction Dealing with tax issues can be challenging, especially when faced with a CP504 Notice from the Internal Revenue Service (IRS). This notice, formally titled “Notice of Intent to…
Introduction E-commerce has seen a significant shift recently, especially concerning the IRS reporting rules. This change affects millions of Americans who engage in business transactions through popular e-commerce platforms like PayPal, Cash App, Venmo, and…
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…
Did you know that a staggering 14 million Americans owe back taxes to the IRS? Yeah, you read that right. Fourteen million. If you’re one of them, you’re probably feeling like you’re drowning in a…
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…
The Internal Revenue Service (IRS) is undergoing a digital transformation with its Paperless Processing Initiative, aiming to make tax filing and correspondence entirely digital by 2025. While this initiative promises to streamline the tax filing…
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….