MyIRSRelief

JUNE 27, 2025

The OIC process involves submitting Form 656, Offer in Compromise, along with detailed financial statements, supporting documentation, and either a partial payment or application fee. Documentation requirements for OIC applications are extensive and demanding.

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Accounting Seed

NOVEMBER 21, 2024

Understanding accounting needs for nonprofits Bookkeeping, grant funding, payroll, taxes, audits—these are just some of the most common challenges that nonprofit organizations face on a regular basis. However, great accounting software doesn’t need to cost an arm and a leg.

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Accounting Today

JUNE 12, 2025

million payroll tax scheme. He failed to collect, account for and pay over payroll taxes to the IRS on behalf of each of these companies from 2014 to 2022, a total of at least $3.5 and one of its partners, Kristofer Heaton, for failing to properly document five audits.

Tax 85

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MyIRSRelief

JULY 4, 2025

With decades of specialized experience in tax controversy and audit defense, Mike Habib understands the intricacies of IRS examination procedures and the sophisticated approaches necessary to protect taxpayers from excessive assessments, penalties, and collection actions.

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ThomsonReuters

MARCH 26, 2025

He noted that during the tax season, the volume of communications with employees increases, making it easier for attackers to exploit this busy period. ” Training for employees to recognize and avoid payroll-related tax scams For human training, Steinhauer stressed well-documented processes for approving changes.

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CTP

APRIL 21, 2025

First, since the goal is to qualify for tax exemption, who better to talk to than an expert on the ins and outs of tax law? Second, your organization will still need to file the appropriate forms and collect supporting documentation to show that you are truly functioning as a nonprofit.

Tax 52

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Analytix Finance & Accounting

JUNE 24, 2025

You must also cover benefits, payroll taxes, office space, equipment, software licenses, and ongoing training. When you outsource your accounting, tax preparation becomes an ongoing process rather than a stressful annual event. Here are the top six benefits every business owner must know about.

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CPA Practice

JUNE 17, 2025

35K, Partner $25K for Multiple Audit Failures The Utah-based firm and its founder/partner Kristofer Heaton were fined on June 12 for audit documentation, engagement quality review, and quality control failures involving five audits. Jason Bramwell Auditing June 13, 2025  PCAOB Docks Heaton & Co.

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MyIRSRelief

MAY 23, 2025

We can help reconstruct your tax picture using bank records, credit card statements, and other documentation to ensure accurate filing. Back Tax Debt – Understanding Your Options in California Q: I owe both federal and California back taxes. Q: Can I negotiate payroll tax debt like other tax debts?

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Accounting Today

JUNE 13, 2025

Instead users can invite their tax professional to collaborate on tax strategies or search the directory of firms who support the Instead platform and offer tax planning and advisory. It also provides a free, complete platform for payroll, tax, HR and data-driven insights.

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CPA Practice

JULY 14, 2025

One tool that handles everything from source document gathering all the way to tax return assembly/delivery—and automates manual tasks like intake, signatures, and deadline reminders—makes your firm a more attractive employer, too.

West Virginia 51

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Withum

DECEMBER 11, 2024

Payroll tax offset: Beginning in 2016, qualified small businesses (defined as those with less than $5 million in gross receipts and those in their first 5 years of existence) can elect to use the R&D tax credit to offset their quarterly payroll taxes, which can provide a significant cash flow benefit.

E-commerce 52

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ThomsonReuters

FEBRUARY 28, 2025

She explained that previously, a good documentation package (“R&D study”) would have prepared this information for an IRS exam. Now, it is required when the tax return is due. million and gross receipts equal to or less than $50 million, the increased documentation requirements will still pose challenges.

Tax 52

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Ronika Khanna CPA,CA

JULY 8, 2025

Ensure Management Fees Are Reasonable CRA is strict about reasonableness and might deny the expense (or reclassify it as salary) if they see it as scheme to avoid payroll taxes. Paid for actual services performed Properly documented with an invoice, contract and detailed description of services.

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Shay CPA

FEBRUARY 10, 2025

Additionally, early-stage companies can opt to apply the credit against payroll taxes (up to $250,000 per year). Maintain Robust Documentation Keep detailed records showing how each dollar of grant money is spent versus privately raised funds.

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SkagitCountyTaxServices

DECEMBER 6, 2024

Overall, youre checking for the accuracy of your records by 1) making sure all income streams match your invoices and are properly categorized, 2) making sure expenses are categorized correctly and are supported by receipts or documentation, and 3) identifying any overlooked deductions (like mileage or equipment depreciation, for instance).

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ThomsonReuters

JUNE 27, 2025

At the forefront is the “One Big Beautiful Bill Act,” a high-profile legislative package that could redefine payroll tax policy by permanently extending key provisions of the Tax Cuts and Jobs Act (TCJA) and introducing new exemptions for overtime pay and employee tips. Beyond Capitol Hill, the U.S.

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SkagitCountyTaxServices

JULY 2, 2025

And third, it only applies to income tax , not payroll tax. But amended returns get scrutiny, and the IRS will want bulletproof documentation of what constituted R&D. Do I need to change anything with payroll?” Second, it’s temporary – gone after 2028 unless Congress extends it. I employ tipped workers.

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SkagitCountyTaxServices

MARCH 26, 2025

So, while the need isnt as urgent, its still wise to have your BOI reporting documents at the ready. Does it make documents and information difficult to access for your employees? If you answered yes to even a couple of these questions, its probably time to shop around for new payroll software options. individuals as owners).

payroll 76

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CPA Practice

JULY 14, 2025

OBannon Four tax preparers convicted of defrauding the IRS of nearly $8 million have been sentenced to a combined 105 months in federal prison, the acting United States Attorney for the Northern District of Texas Nancy E. Larson announced earlier in July.

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CPA Practice

JULY 7, 2025

Jason Bramwell Payroll July 2, 2025  Private Sector Shed 33,000 Jobs in June, ADP Says “Though layoffs continue to be rare, a hesitancy to hire and a reluctance to replace departing workers led to job losses last month,” Nela Richardson, ADP’s chief economist, said on July 2.

Technology 90

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CPA Practice

JULY 16, 2025

“Start by documenting everything: your new title, the date it was announced, and any verbal promises made during the process,” he says. The ones who don’t usually end up feeling more frustrated than if they’d never been ‘promoted’ at all.”

Technology 66

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MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. In this article, we will explore the benefits of professional tax help for Chicago taxpayers facing tax audits, back taxes, and 941 payroll tax problems.

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MyIRSRelief

AUGUST 10, 2020

Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or other cities, business taxpayers, or individuals whom they deem should be responsible taxpayers, which is why it’s important to ensure that you resolve any payroll 941/940 tax problems sooner, rather than later, should they arise.

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MyIRSRelief

MAY 19, 2023

With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Whether you are a small business owner, self-employed, or an individual taxpayer, you may face tax issues such as tax audits, back taxes, and 941 payroll tax problems.

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MyIRSRelief

JANUARY 2, 2023

Some common tax problems include: Failing to file a tax return: If you fail to file a tax return (1040, 1120, 1065, 941, etc.), you may be subject to penalties and interest on failure to file and on any unpaid taxes. Keep records: Keep records of all communication and documents related to the audit.

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Tax tax return payroll tax audit 147

MyIRSRelief

JANUARY 7, 2024

Tax audits can be a daunting experience for any taxpayer, and when it comes to the Employment Development Department (EDD) audits, the stakes can be particularly high. The EDD is responsible for administering unemployment and disability insurance, payroll tax collection, and job training/workforce services in California.

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Bharmal&Associates

OCTOBER 23, 2020

That said, the document is a huge help because it gives you some clearly defined valuation rules of the road to follow and takes away some of the gray areas. Such contributions further enable the savings on payroll taxes while adding to the dollar amount that’s considered reasonable compensation. Market Approach. Planning note.

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CPA Practice

JANUARY 26, 2023

Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Use same employer identification number on all forms Employers need to make sure the employer identification number (EIN) on their wage and tax statements (Forms W-2, W-3, etc.)

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MyIRSRelief

MARCH 29, 2024

For businesses in Whittier, California, engaging a tax professional who understands the intricacies of federal and state tax codes is crucial. These professionals can help businesses navigate the complexities of tax preparation, ensuring that all necessary documentation is accurate and submitted on time.

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MyIRSRelief

JULY 12, 2021

Employment 941 / 940 Payroll Tax Problems. Employment 941 /940 payroll tax problems are very common however the IRS is very aggressive when it comes to unpaid payroll tax collections. You will be required to make deposits on payroll tax either semi-weekly or once a month. At an IRS Office.

Tax 147

Tax payroll tax tax return payroll 147

MyIRSRelief

APRIL 22, 2024

How Can I Resolve Unfiled Tax Returns in Corona, CA? Failing to file tax returns can lead to penalties and potential legal issues. Here’s how to handle unfiled returns: Steps to Take: Gather Documentation: Collect all necessary financial records. What Help is Available for 941 Employment Payroll Problems in Corona, CA?

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Tax payroll tax payroll tax return 130

MyIRSRelief

AUGUST 1, 2023

Employment Tax Issues : Employee classification, especially for owner-operators, poses a significant compliance risk, as misclassification can lead to unpaid taxes, fines, and legal consequences. However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

payroll tax 130

payroll tax Tax payroll audit 130

Shay CPA

MAY 3, 2023

Looking over key documents like your profit and loss statement, you get a better idea of what’s driving revenue — and where you’re spending. For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. your quarterly Form 941).

payroll tax 52

payroll tax payroll Tax tax return 52

Shay CPA

MARCH 6, 2024

Looking over key documents like your profit and loss statement, you get a better idea of what’s driving revenue — and where you’re spending. For most companies, payroll makes up a huge category in the latter. It’s the R&D credit that the IRS will let you apply toward payroll taxes. your quarterly Form 941).

payroll tax 52

payroll tax payroll Tax tax return 52

CPA Practice

MAY 11, 2023

At the center of the scheme, according to federal prosecutors, is former IRS agent Frank Mosley, who was also identified as a “current city of Oakland tax enforcement officer.” In addition, charging documents said the Mosley brothers’ August 2020 application for their shell company, Forward Thinking Investors Inc.,

payroll 127

payroll tax return payroll tax Tax 127

Withum

FEBRUARY 8, 2023

If you’re one of the lucky taxpayers to be selected for an ERC audit, then you’ll most likely receive a letter from an IRS agent informing you that you’ve been selected for an audit, and it may even contain an Information Document Request (IDR). What Supporting Documents Will I Need? Should I Go It Alone or Hire Professional Help?

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