IRS Forces Full Disclosure for Overseas Accounts
I have an overseas account, but I didn’t think about this! If you have a foreign account, you have until April 15 to file a FINCEN 114 form electronically (formally FBAR) with the Treasury's…
$458 Billion Owed in Back Taxes
If you thought you were getting away from the IRS before… apparently so did everybody else. The IRS is on a mission to collect nearly $500 billion owed in back taxes, and they’re not going to stop…
10 Things to Consider When Starting Up a Cannabusiness
1. A company name that gives you room to grow and expand your product line. 2. Where will the business be located? Will the landlord be 420-business-friendly? Your local legal restrictions vary so…
If Your Heart is Still Beating, Your Medical Expenses Are Increasing
Have you looked into medical expenses lately? No worries, we’ve got you covered! They are on the rise – increasing by about $1,000 this year for an average family of four according to the Milliman…
Cannabis: Taxation Controversy & Confusion
Cannabis, Marijuana, Weed, Pot, Mary Jane - a rose by any other name is still a rose. No matter what you want to call it, the industry surrounding this drug faces many uphill battles. It does not…
What Happens if You Don’t Pay Estimated Taxes?
If you’ve had a big tax debt at the end of last year, your Enrolled Agent may have talked with you about paying estimated taxes, especially if you are self-employed. Hopefully, your eyes didn’t roll…
Now What? I Got a CP523 Notice from the IRS. Help!
A CP523 notice will not be the first time you’ve dealt with the IRS. In fact, you need to first have an installment agreement with the IRS in order to receive one. It is a cause for concern,……
Private Collectors and Other Problems Outside the IRS
Third time is a charm… or a nightmare? One year ago the IRS reinstated a program allowing private debt collectors to pursue delinquent taxpayers. This is nothing new – in fact, it was tried twice…
Attention Business Owners: Payroll Taxes Can Trip You Up In a Hurry
Being late on your income tax is one thing. Payroll taxes are an entirely different story, however. Although I may not want to hear it, I’ve had so many new clients tell me they haven’t filed income…
