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How Can HNIs Protect Their Income From Recent Increase of IRS Tax Audits?

On: December 5, 2024

The Internal Revenue Service (IRS) is a unit that collects taxes from citizens and is an entity that checks and keeps balances which work to fight frauds and work on those matters where they need to check and ensure that an individual or a corporation is following the rule of the land and adhering to […]

Can the IRS Garnish ALL Of My Income?

On: April 20, 2024

Facing a wage garnishment from the IRS can leave you scared, confused, and baffled. While you never expect the IRS to come after you and take your wages, it can happen, especially when you have an unpaid tax debt. If you have received a notice in the mail that states that the IRS is going […]

Do I Need to Report My Gambling Winnings on My Taxes?

On: April 10, 2024

A weekend trip to the casino may be just what you needed to refresh after a long week at work, but what do you do when you hit the jackpot? One of the questions that doesn’t come up as the jackpot alarm sounds but only when the beginning of the new year rolls around is […]

Will the IRS accept my Offer in Compromise? Should I be worried?

On: March 31, 2024

Are you struggling to pay a tax debt that you owe? Or maybe you know you can’t pay the tax debt at all? Is it causing you financial hardship? An offer in compromise is one option you have available to you and if the IRS accepts it, you may be able to settle the debt […]

I’m Being Audited Again! Can the IRS Really Audit Me Multiple Times?

On: March 21, 2024

If you have ever faced an IRS audit, then you know just how stressful it can be. No one wants to deal with the IRS, especially when they feel they are under a microscope. If you have received another letter from the IRS stating that you are being audited, you may be wondering if it […]

Should I File Back Taxes If I Owe Money to the IRS?

On: March 11, 2024

One of the scariest things a taxpayer encounters is owing money to the IRS. It can cause a serious financial burden to the taxpayer and leave them with little money to live on should the IRS move forward with tough collection actions.  Forgetting to file your tax return(s) means that you are going to likely […]

How Many Years Back Can the IRS Audit Me?

On: March 1, 2024

Opening the mailbox to find a letter from the IRS sends your fingers trembling and your heart racing. Many Americans sit in fear each year of a tax audit and cross their fingers that they are not selected. Tax audits are not only stressful, but they are also time consuming and can lead to penalties […]

Can the IRS Really Put Me in Jail?

On: February 20, 2024

As if dealing with the IRS isn’t enough, now you heard someone say the IRS has the authority to put you in jail! Dealing with the IRS in any capacity can be scary and overwhelming. There is something about the agency’s reputation that instantly strikes fear in you when you receive a letter from them. […]

Surviving a Business Tax Audit 101

On: February 10, 2024

Two words that any business owner dreads hearing are “tax audit.” These two words are scary to most individual taxpayers and businesses alike. No one wants to deal with the IRS. Tax audits feel very invasive as the IRS wants to review your financial information and assets. Knowing how to survive a business tax audit […]

Tax Issues Small Businesses Face

On: January 31, 2024

Small businesses in California are ever important as they help fuel the economy and meet the needs of other businesses and residents throughout. As a small business owner, you are required to comply with all of California’s tax regulations and rules – which can definitely become confusing quickly.  There are multiple agencies that handle different […]

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