About Matt Cohen

Matthew Cohen is a partner at the Tax Resolution Institute.

Battling COVID-19, Unpaid Taxes and Unfiled Tax Returns Together

In today's climate, The Tax Resolution understands the hardships that surround dealing with unfiled tax returns and back taxes owed. In these times, it makes sense to spend the time to catch up with your taxes issues. For most, this is a plight that cannot be fought alone. As long as COVID-19 is around, it is actually an ideal time to fix those tax issues that have been bothering you for too long.  The Tax Resolution Institute is here to ensure future financial success and security for you and your loved ones. We are here to help The Tax Resolution [...]

2020-07-01T15:48:33-07:00July 1st, 2020|Tax Resolution Experts|

PPP Flexibility Act Passed Into Law

by Matthew Cohen Many of you applied for or plan on applying for Paycheck Protection Loan under the CARES Act.  Assuming you have received or will receive funds stemming from this loan, you can breathe easy…for about 30 seconds.  This is because now you have to figure out what to do to not have to pay back the loan. On June 5, 2020, the President signed into law the PPP Flexibility Act.  The purpose of this law is to both fine tune as well as provide clarity as to what you need to do to have your PPP loan forgiven. [...]

2020-06-16T16:26:15-07:00June 16th, 2020|Tax Resolution Experts|

California Proposes That Tenants Affected By Covid-19 Be Able to Terminate Commercial Leases

May 21, 2020 California State Senators Scott Wiener and Lena Gonzalez have proposed a law that would allow some tenants in California to terminate their leases.  In order to qualify, a tenant’s landlord must have refused to lower the amount of rent to be paid.  This proposed law is known as Senate Bill 939 (SB939).  As of the date this article was written, the bill has yet to be passed. The proposed bill applies to commercial leases.  To terminate a lease, a tenant must have recognized a reduction in revenue amounting to 40% or greater.  For certain businesses such as [...]

2020-05-21T18:37:14-07:00May 21st, 2020|Tax Resolution Experts|

Who Do You Pay and How Do You Do It?

The ins-and-outs of employees vs outside contractors Employee vs Independent Contractor – Overview If you run a business and get support from workers other than yourself, you have probably asked yourself the question "should I pay these people as employees or as outside contractors?" In order to convince yourself that you made the correct decision, maybe you thought that since you only use one person or just pay for part-time help that you qualify to pay your workers as independent contractors.  To save money and hassle, some people lean toward the latter and learn they made the wrong decision the [...]

The IRS Wants to See You Suffer!

In Their Resolution Outline, the IRS Ignores the Hardship Option When the IRS presents back tax resolution options to the public, why is it that IRS hardship status is not listed and an Internal Revenue Service option? In a recent official publication for taxpayers that outlines ways to resolve back taxes owed, the Internal Revenue Service ignores IRS hardship status as an option. If a taxpayer successfully claims hardship, they can either pay less than what is owed over the time the IRS has to collect (the 10-year collection statute) or possibly pay nothing by being placed into currently-not-collectible (CNC) [...]

2018-07-17T17:56:28-07:00July 17th, 2018|Tax Resolution Experts|

IRS Meets Robocop – The IRS Turns to Data Mining to Find Tax Evaders

Does tax evasion warrant widespread government spying? Welcome to the 21st Century.  The United States is fighting a "tech war" against its own citizens, assuming they are tax dodgers. By using "data mining", the IRS is seeking  to track down and collect taxes from those who move their income to Swiss banks and other offshore tax havens. Granted, these are “edge” cases, which were brought to light from the disclosures found in the Panama Papers (the set of documents from the Central American law firm Mossack Fonseca that were hacked by tech activist, Anonymous).. The question is “How [...]

“No Soup for You!”…The Company that Inspired Seinfeld Character has Big-Time Payroll Tax Problems!

Payroll tax problems can add up quickly In case you were worried, we should clarify that the original owner and Seinfeld “Soup Nazi” character inspiration Al Yeganeh has NOT been charged in this case. Rather, the company’s (Soupman, Inc.) CFO Robert Bertrand has. Apparently Mr. Bertrand has been "cooking the books" by paying employees in cash and stock in order to avoid the company’s tax obligations. The IRS estimates that based upon the amount paid “under the table”, the lack of Social Security, Medicare and Federal income tax deposits have led to a shortfall of about $600,000 in [...]

2017-06-08T10:25:29-07:00June 8th, 2017|Payroll Tax Problems|

IRS News: Nationwide Tax Professionals Forum and IRS Video Channels on Youtube

It's like Prom for tax nerds! The IRS has entered the 21st century.  With their embrace of popular new media tools to help both taxpayers and tax professionals navigate the ever changing sea of tax regulations, collections and compliance, the IRS continues to impress.  That's right, we said the IRS. Below you will find links highlighted in a recent tax circular that not only announce the video press release regarding the nationwide Tax Forum but also provide useful links to three alternate languages. Here is the blurb from the IRS Nationwide Tax Forums project: "If you are an enrolled agent, [...]

Can’t Afford to Pay your Taxes? IRS Testing Expanded Criteria for Streamlined Installment Agreements

by Matthew Cohen The IRS offers several options to taxpayers who filed their tax returns but can't afford to full-pay the amount they owe by the due date. For example, if a taxpayer is unable to pay the full amount owed over the 10-year statute of limitations on collection, they may claim hardship and end up paying a lower amount. On the other hand, if a taxpayer can full-pay their liability within the time allowed by the IRS which is currently 6 years (72 months), they may enter into a streamlined installment agreement assuming they meet certain requirements.  One such [...]