Category: Taxation

Tax Credits vs. Tax Deductions

  Even for people who have been paying taxes for years, it can be difficult to understand or keep track of all of the terminology and concepts that are contained in our tax returns. For many of us, we may hand everything over to our tax-preparer, or answer hundreds of questions from a computer program,  … Read more

Preparing Your Start-up’s First Tax Return

  Speaking from experience, starting your own business is a stressful, risky, and all-consuming experience. But honestly, that’s how it should be—living the American Dream of making it on your own should be the result of hard work. The first year of running a new business is often the most difficult, as the one-time costs  … Read more

IRS and Identity Theft

  Very few people like dealing with the IRS if they don’t have to. One particular time we welcome this contact is when we are filing our tax returns, expecting a large refund. Unfortunately, an increasing number of taxpayers in the electronic-filing era are getting shocking news each year: that their tax refund has been  … Read more

An Overview of Criminal Tax Charges

  Any criminal charge is a matter to take incredibly seriously, as your good name, your ability to vote and work, and your very freedom are all at stake. Federal criminal charges take things to another level, as the Federal government has greater overall resources than state and local governments. In addition, the Federal government  … Read more

Taking a Case to Tax Court

  One of the last things that any person or business wants, or envisions, when they file their annual tax return, is to wind up in a federal tax court. However, when you work hard and prepare your tax returns honestly, you do not expect to get audited and stuck with a significantly higher tax  … Read more

Why Was My Tax Refund Withheld?

  A lot of people approach tax season with dread, anticipating all of the work it will take to prepare and file their taxes. However, with that dread can come excitement about receiving a tax refund. Some of us rely on that refund and others even spend it before they receive it. Unfortunately, the IRS  … Read more

President Trump Establishes IRS Priorities

  Everything in the national news these days seems to focus on Russia investigations and the GOP’s efforts to replace Obamacare. This is unfortunate for President Trump, who had high hopes of quickly implementing a sweeping tax code overhaul and reform. While it is unlikely that congress will even take any substantive steps toward tax  … Read more

Appealing IRS Collection Actions

Appealing IRS Collection Actions

The IRS has incredible powers to get your attention if you are delinquent in paying your tax bill. These include a federal tax lien, a levy, or a seizure of property. These actions are disruptive, inescapable, and can put your life on hold. If you find yourself the recipient of an IRS tax collection action,  … Read more

President Trump’s Proposed Cuts to the IRS Budget

Treasury Secretary Supports Increased IRS Hiring New Treasury Secretary Steven Mnuchin has advocated for increased hiring at the IRS. During his confirmation hearings, he expressed concern that the IRS, a government agency tasked with collecting revenues, has seen its’ number of employees decline almost 30% over several years. He testified that he would tell President  … Read more