IRS Notices
The IRS has updated its long-standing regulations on selling seized property, marking a major shift from rules dating back to the 19th and mid-20th centuries.
February 14, 2025
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Blog
Category: Professional Tax Help
Tax Evasion
Tammy and Scott Bushnell thought they were running their business the smart way—underreporting income, inflating expenses, and even destroying records to keep more money in
January 28, 2025
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Tax Implications of Disasters
Disasters can strike at any time, leaving individuals and businesses scrambling to recover. When a federally declared disaster occurs, the IRS provides tax relief, giving
January 24, 2025
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Taxes
Taxes aren’t just another business expense you can ignore—and one business owner is learning that lesson the hard way. Guy S. Cook, the former owner
January 23, 2025
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IRS Audit Help
As a business owner, safeguarding client information isn’t just good practice—it’s a legal requirement. The IRS has recently introduced a Written Information Security Plan (WISP)
January 21, 2025
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Identity Theft
As a business owner, safeguarding client information isn’t just good practice—it’s a legal requirement. The IRS has recently introduced a Written Information Security Plan (WISP)
January 13, 2025
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Tax Preparation Options
Tax season is a pivotal time for business owners. It’s not just about filing returns; it’s about doing so with accuracy and efficiency while minimizing
January 10, 2025
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Tax Fraud
Running a business is challenging enough without the added risk of getting entangled in fraudulent tax schemes. Unfortunately, some professionals misuse their expertise, leading to
December 27, 2024
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Business Tax Audits
Audits are among the most intimidating experiences a business owner can face. When the IRS calls, it’s natural to feel uneasy. However, with the right
December 3, 2024
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Tax Fraud
The recent indictment of Ryan Ulibarri, a dentist in Colorado, serves as a stark reminder to business owners: don’t be tempted by complex tax schemes
November 15, 2024
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IRS
The IRS Pathways Student Intern Program presents a valuable opportunity for students interested in a career with the IRS Criminal Investigation (CI) Division. This paid
October 28, 2024
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Tax Evasion
In a recent case that underscores the critical importance of tax compliance, Alabama chiropractor Gary Forrest Edwards was indicted on charges including tax evasion and
September 13, 2024
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Tax Fraud
In a notable legal development, Abdirizak Farah, the founder and superintendent of two charter schools in Ohio, has admitted to engaging in bank fraud, highlighting
September 6, 2024
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Tax Evasion
In a startling legal case that underscores the severe consequences of financial misconduct and tax evasion, Aaron Rossi, a former employee at Central Illinois Orthopedic
September 4, 2024
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IRS tax planning
In times of economic hardship, navigating tax obligations can make financial stress so much worse. Sometimes it may be due to being out of work,
July 22, 2024
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IRS tax planning
Providing financial support to aging parents or in-laws while managing child care needs can be taxing. Learn how converting support payments to child care payments can qualify you for a dependent care credit, easing your tax burden and benefiting your family in our latest blog post.
July 17, 2024
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Professional Tax Help
Each year, the IRS releases a list of the most prevalent tax scams, known as the “Dirty Dozen,” to help taxpayers avoid fraudulent schemes that can lead to financial and legal troubles. One significant scam is the rise of Offer in Compromise (OIC) Mills, where unscrupulous entities falsely promise to negotiate with the IRS to reduce tax debts, often charging hefty upfront fees for ineffective or non-existent services.
July 13, 2024
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IRS tax planning
The IRS is facing a significant challenge in combating bad tax advice circulating on TikTok, a platform it cannot access due to federal restrictions. National Taxpayer Advocate Erin Collins highlighted this issue, explaining the difficulties in reaching users who rely on social media for tax guidance. The IRS has included misleading tax information on its Dirty Dozen list of tax scams and issued alerts on various credits being misused. Business owners are urged to rely on official IRS resources and trusted tax professionals to avoid falling victim to misinformation.
July 11, 2024
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IRS
The federal government has issued over $1 billion in upfront tax credits to buyers of new and used electric vehicles (EVs) as part of the Inflation Reduction Act. This initiative, which began on January 1, 2024, allows car buyers to receive tax credits of up to $7,500 for new EVs and $4,000 for used EVs directly at the point of sale, making EVs more affordable and competitive with traditional gasoline-powered vehicles.
July 4, 2024
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Professional Tax Help
5 Signs You Need Professional Tax Help in Texas,Professional Tax Help
July 2, 2024
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Tax Scams
The IRS recently released its annual “Dirty Dozen” list of prevalent tax scams that business owners need to watch out for, ranging from phishing attempts and employee retention credit fraud to fake charities and abusive tax avoidance schemes. By being aware of these common scams and taking proactive measures, businesses can protect themselves from costly penalties, identity theft, and legal consequences
June 26, 2024
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Back Taxes
As a business owner, it’s crucial to maintain accurate financial records and comply with tax laws. A recent case serves as a stark reminder of
June 25, 2024
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Business
Deciding who should own the business car—yourself or your corporation—is a crucial decision for single-owner S corporations. This choice impacts insurance rates, tax deductions, and administrative complexity. Individual ownership may offer better insurance rates, but it complicates reimbursements and tax reporting.
June 20, 2024
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Business
Closing your sole proprietorship or single-member LLC? Understanding the tax implications is crucial. Selling your business assets triggers various tax considerations, including special rules for real estate, different tax treatment for various assets, and non-compete agreement payments taxed as ordinary income. Navigating these tax implications requires careful planning. We’re here to help at IRSProb.com
June 10, 2024
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Back Taxes
Did you know the IRS can charge you up to a 25% penalty for filing your tax return late? Many people don’t realize that you can avoid this hefty penalty by filing on time, even if you can’t pay the full amount you owe. At IRSProb.com, we’ve seen countless individuals save thousands by simply filing on time.
June 7, 2024
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