New York sales tax audits are challenging for business
New York sales tax audits are challenging for business because of the complexity of the sales tax laws and stringent audit standards. The New York State Department of Taxation and Finance (DTF) has the authority to audit any business that sells taxable products or services in New York. DTF auditors are trained to look for […]
What You Should Know About Unemployment Taxes
Did you know that you have to pay taxes even if you’re unemployed? In fact, many Americans who took out unemployment during COVID-19 lockdowns may now find themselves with large tax bills. But how do unemployment taxes work? Are there any avenues for unemployment tax help? Read this guide to learn more about everything from unemployment […]
What Percentage of Tax Returns Are Audited Each Year?
When filing your annual tax return, the possibility of being audited is always looming. Audits feel scary, even when you know you haven’t done anything wrong. But what percentage of tax returns are audited each year? The answer to this question varies based on income brackets, but the truth is not a lot of people […]
7 Tips to Reduce Your Chances of Falling Victim to Tax Identity Theft
Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf. According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a year. Consumer advocates believe that since […]
21 Ways to Get Help for Your IRS Tax Problem and Get Your IRS Debt Resolved, Reduced, or Forgiven
Are you behind on filing your federal income tax return or paying your federal IRS taxes in the last year or more? If so, you’re not alone. More than 22 million taxpayers in the U.S. have either failed to file a tax return or are behind in paying their IRS taxes due, and that was […]
Building Resilience into Your Small Business
If you currently own or manage a small business, you’ve probably experienced an extremely high demand or you’re preparing for the worst – to be shuttered by law for a few weeks or longer. In either case, your business needs a whopping dose of resilience right now. Here are four steps to safeguard your business […]
Bankruptcy FAQ for Individuals
Filing for bankruptcy is a difficult and draining process. People often feel ashamed, scared, or confused. If you find yourself with no other options, bankruptcy can be a good way to clear out old debts, change financial patterns, and most importantly get a fresh start. Here is everything you need to know about filing for […]
Tax Problem Resolution Services
It all started with the Tea Party in Boston, when American colonists protested British taxes levied “without representation.” The IRS didn’t come into being until 1862, to handle our first national income tax, 3% of income, levied to fund the Civil War. That tax expired in 1872, but again in the early twentieth century, just […]
IRS Collections Is Starting Back Up. What To Do If You Owe Back Taxes.
2020 threw a huge wrench into everything and the IRS collections proceedings are no exception. With the tax deadline pushed until July 15th and a lot of the IRS closed under shelter at home orders due to COVID19, to the IRS being tasked with sending millions of Americans their stimulus checks, the IRS collections proceedings […]
How to Handle Your Taxes During an Economic Crisis
Whether it is a global pandemic shutting the economy down for months on end, a stock market crash that leaves formerly giddy investors frightened and nervous or a housing crisis that makes real estate a risky bet, living through tough economic times is never easy. Even so, how you handle yourself and your money during […]
