21 05, 2020

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

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

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 [...]

18 03, 2020

IRS Extends April 15 Deadline for Payments

2020-05-21T18:45:56-07:00March 18th, 2020|IRS News|

FOR IMMEDIATE RELEASE: The IRS is postponing the April 15 tax-payment deadline for individuals, giving Americans an additional 90 days to pay their 2019 income-tax bills. The IRS, using authority under the President’s national emergency declaration, will waive interest and penalties as well, Treasury Secretary said Tuesday. The delay is available to people who owe million or less and corporations that owe $10 million or less. The IRS will continue to process tax refunds. Taxpayers should file their returns as usual by April 15th, but they can defer payment for up to 90 days beyond that.  Presumably, they can also [...]

1 11, 2018

Who Do You Pay and How Do You Do It?

2018-11-07T10:10:34-07:00November 1st, 2018|California Tax Resolution, Payroll Tax Problems, Tax Planning, Tax Resolution Experts|

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 [...]

17 07, 2018

The IRS Wants to See You Suffer!

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

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) [...]

11 06, 2018

The Taxpayer Bill of Rights Can Help You

2018-06-11T15:32:07-07:00June 11th, 2018|Business Tax Problems, California Tax Resolution, Income Tax Problems, IRS News, IRS Tax Relief, Tax Law, Tax Resolution, Tax Resolution Experts|

Did you know that there is a Taxpayer Bill of Rights that is designed to protect you from being taken advantage of by the Internal Revenue Service? After receiving a detailed proposal from National Taxpayer Advocate Nina Olson, the IRS adopted an official Taxpayer Bill of Rights. It was a long time in coming. Moreover, do you realize that the Taxpayer Bill of Rights applies to all taxpayers in their dealings with the IRS? Grouping the existing tenets of the tax code into ten fundamental rights, the Taxpayer Bill of Rights does a good job in making an overly complex, [...]

8 05, 2018

Helping You Claim The IRS Tax Refund You Are Owed

2018-05-08T10:20:46-07:00May 8th, 2018|Income Tax Problems, Tax Resolution Experts, Unfiled Tax Returns|

Claim the IRS tax Refund you are owed! Are you losing out on your own money by failing to claim an IRS tax refund that should already be in your pocket? In 2017, the IRS posted an informational video on YouTube called Refund: Claim It or Lose It. As a tax resolution provider backed by a full-service accountancy firm, the Tax Resolution Institute is in the unique position to help you on all fronts. Beyond cleaning up a delinquent tax mess of just filing delinquent tax returns, we also can help you claim an IRS tax refund. If [...]

13 02, 2018

IRS Offer In Compromise – What You Need To Know

2018-05-03T10:29:48-07:00February 13th, 2018|Currently Not Collectible, IRS Tax Relief, Offer In Compromise, OIC, Tax Resolution, Tax Resolution Experts, Unpaid Back Taxes|

IRS Offer in Compromise: find out if you qualify before submitting your offer! Every taxpayer in trouble seems to want to settle for pennies on the dollar which involves doing an Offer in Compromise (OIC), but very few understand what an IRS Offer in Compromise entails. In many instances, an Offer in Compromise is not the best option, even if you qualify. To make sure that you are making the right tax resolution decision, we will detail for you the benefits and challenges of an IRS Offer in Compromise. Our goal is to help you move forward with [...]

21 11, 2017

The REAL Dynamic Duo: Your CPA & Tax Attorney vs. Your Tax Problem!

2017-11-22T09:46:35-07:00November 21st, 2017|Tax Attorney, Tax Law, Tax Resolution|

A CPA and an Attorney make the ultimate team to conquer your IRS & State tax problems You may be wondering why we chose to write on this topic. The reason is it reinforces our basic operating principle. That is, as a comprehensive Tax Resolution firm we choose to ALWAYS have expert CPA’s AND tax attorneys on staff. With this setup, every client gets the benefit of having not only an expert accountant working on the numbers, but also a second set of eyes reviewing their case from a legal perspective. By far, this is the best approach [...]

24 10, 2017

IRS Loosens Rules to Help Ease Hurricane Hardships

2017-10-24T10:26:27-07:00October 24th, 2017|IRS News, Tax Attorney, Tax Law, Tax Resolution Experts|

IRS rule changes to benefit hurricane victims in affected areas If you live in States such as Texas, Louisiana, Arkansas, Kentucky, or Tennessee, you know the meaning of “problems” as they relate to hurricanes. In order to ease the devastation caused by Hurricane Harvey, the IRS is allowing taxpayers to take emergency loans from their retirement plans. These hardship distributions are to be used to help hurricane victims as well as family members who were victims. This idea is not new. In fact it has been used to aid victims of earlier floods and hurricanes. We are fairly [...]

10 10, 2017

Supreme Court will NOT Review Whether IRS Must Explain Tax Notices

2017-10-10T15:02:46-07:00October 10th, 2017|IRS News, Tax Policy News, Tax Resolution Experts|

Important Supreme Court decision on Tax Notices Yesterday the highest court in the U.S. declined to hear QinetiQ US Holdings Inc.'s challenge to a lower court ruling that held the IRS does not have to provide an explanation for issuing a notice of tax deficiency. This means that the 4th Circuit Court of Appeals decision stands. In the lower court's case Circuit Judge Barbara Milano Keenan said the following: "After reviewing QinetiQ's tax return, the Internal Revenue Service (IRS) issued a Notice of Deficiency concluding that QinetiQ had not shown its entitlement to the claimed deduction. QinetiQ later [...]