Last year, we wrote about the IRS’ decision to roll out a new program to assign tax debt to private collectors. As we noted then, the IRS has issued warnings to taxpayers to help ensure they recognize fraudulent notifications and communications when they see...
The debate over whether a corporate entity can be considered an individual can be considered a taxpayer has garnered a great deal of debate. Generally, speaking, corporations are not individuals for tax purposes. While there may be worthy circumstances for an...
Previously, we began looking at the topic of discharging tax debt in bankruptcy. As we noted last time, certain types of tax debt are dischargeable in bankruptcy, while others are not. Speaking generally, older tax debt is dischargeable in bankruptcy, while...
Bankruptcy is an important safety valve recognized by the legal system which gives individuals strapped with unmanageable debt the opportunity to either catch up on that debt by reorganizing themselves financially or by liquidating assets and paying off creditors....
Tax filing issues are often problematic for small business owners. This is often due to the simple fact that they have not kept up to date on current tax laws. One issue that can be particularly troublesome is business deductions.Business deductions must be valid, and...
Previously, we began looking at the issue of worker classification and the costs employers can face when they make mistakes in this area. As we noted, employers who misclassify workers may end up having to pay taxes twice if they are unable to provide proof that an...
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