As we approach the end of a bumpy 2022, it’s important for taxpayers to stay informed about the latest updates from the Internal Revenue Service (IRS) and how they can help position themselves for success in the new year. Here are the top 5 IRS updates coming in 2023 that you should be aware of: Increased penalties for noncompliance: The IRS has announced that it will be increasing penalties for taxpayers who fail to comply with tax laws and regulations in 2023. This includes failing to file tax returns on time, underreporting income, and failing to pay taxes owed. The increased penalties are ..read more

To many, tax debt is a bit of an enigma. Unless you’ve spent hours upon hours studying the federal tax code, it’s unlikely you’ll find yourself comfortable and confident when hit with a tax bill from the IRS. For most people, the experience falls on quite the opposite side of the spectrum. They lack the expert knowledge and understanding of tax debt facts, policies, and tax relief overall. And as you can already guess, this causes problems. Major ones. A lack of knowledge about taxes leads many well-intentioned taxpayers down a spiraling path to tax debt. But with the right information and an ..read more

As of midnight tonight, the tax extension deadline for 2021 will have officially passed. If you filed for an extension but have yet to file, that probably means you’ll have missed the deadline. So what should you do now? You shouldn’t take lightly any missed IRS deadline, because they often bring serious consequences with them. A missed deadline can bring serious penalties along with it, which can set you down a bad path from missed deadline to spiraling tax debt. But just because you’ve missed the tax deadline, doesn’t mean all is lost. With the right actions taken now, you can minimize the b ..read more

As the second round of Child Tax Credit payments go out this month, it almost goes without saying: There have been some speed bumps so far. This shouldn’t serve as too much of a surprise. Over time, millions of taxpayers have expressed having technical issues receiving everything from their tax refunds to economic relief payments. And what’s more, plenty of non-buggy issues can come between you and a payment. But if you were expecting to receive an economic relief payment and haven’t yet, now’s the time to start asking questions. We’re here to offer a brief explanation of the Child Tax Credit ..read more

Happy New Year! With another year in the books, it’s time to look ahead at 2022 and the financial moves we’ve planned for ourselves. And it’s also time to look out for a new batch of tax scams. There’s nothing that derails your financial goals like identity theft. Unfortunately, tax scammers are always on the hunt for their next mark. And plenty marks exist, since just about everyone ends up filing and paying taxes year in and year out. We’re here to help. As a full-service tax representation firm entering our third decade of service, we don’t believe anyone should have to deal with tax proble ..read more

Let’s face it: Tax debt is scary. And for the millions of Americans dealing with tax debt, facing it takes a lot of courage, creativity, and hard work. A lot goes in to achieving that fresh start—and it may even include the IRS Fresh Start Program. After over 20 years helping our clients address all matters of tax issues, we know there’s no reset button on tax debt. There’s no silver bullet or magic spell that instantly resolves your issues with the IRS. But for some struggling with tax debt, the IRS Fresh Start Program is the next best thing. If you’ve heard anything about the IRS Fresh Start ..read more

It’s that time of year again. Though Tax Day has long been behind us, that also means we’re swiftly approaching another major tax deadline: Oct. 15. The 2021 tax extension deadline will arrive in just a couple of short weeks, and it’s an important one for anyone who has yet to file their 2020 taxes. Neglecting to file your tax return can cost you. Forgetting or choosing not to file can lead to big consequences with regard to the IRS, and can set you on a path to tax debt, wage garnishments, tax liens, and more. Depending on what you owe the IRS, this can serve as a financial speed bump or a co ..read more

What’s your favorite Halloween movie? Hocus Pocus? Poltergeist? The Nightmare Before Christmas? From the merely themed to the spooky, all the way to the downright horrifying, we gravitate towards a wide range of horrifying stories to send chills up our spines. But it doesn’t matter how much we love a good scare. The last place we want to end up is in the middle of a tax horror story. Much how plenty of different types of Halloween movies exist, so do the types of tax horror story you can end up in. And unlike a slasher film, the worst outcomes of your tax horror story may linger with you for m ..read more

Is it tax season already? We hate to be the bearers of bad news, but it sure is. It’s time to face your tax return—and deal with everything that comes along with it. Just the thought of filing may have you recoiling right now, but take our advice: Don’t. Waiting until the last minute may lead you to miss out on the benefits of filing taxes early. Most people dread tax season. And we can’t blame them! When you don’t have the knowledge and expertise of a tax pro, the thought of organizing all your documents and filing your taxes can seem daunting. Weighing the Benefits of Filing Your Taxes Early ..read more

For many, December represents a time to look both backward and forward. We not only take stock of the year behind us, but also look ahead with our New Years resolutions. If you’re anything like us, then you’ve probably got a few finance-related New Years resolutions on your list. And you’re not alone—finances make for a pretty common New Years resolution! Whether your financial situation provides a near-constant stress, or you’re simply looking to take your savings to the next level this year, here’s a few ideas to get you started. We’re going to walk you through 10 New Years resolutions to he ..read more