MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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MyIRSRelief

MARCH 29, 2024

In the bustling city of Whittier, California, businesses face a myriad of tax-related challenges that can significantly impact their operations and financial health. From business tax preparation to dealing with unpaid back taxes and navigating complex audits, the tax landscape can be daunting.

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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. Contact us for tax help today.

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Withum

MARCH 12, 2024

The cannabis tax community is abuzz with rumor and delight. The giddiness stems from a recent announcement by a publicly traded cannabis company that it obtained large tax refunds from the IRS, even though the company has been tightlipped about the reason for the refunds.

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MyIRSRelief

FEBRUARY 23, 2024

Facing the IRS can be a daunting experience, especially when dealing with unpaid back taxes, unfiled returns, and the looming threat of bank levies. For many, the stress and confusion surrounding tax debt can feel overwhelming. Furthermore, failure to file tax returns can result in hefty fines and legal repercussions.

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Patriot Software

SEPTEMBER 13, 2022

If you employ relatives, you need to make sure you’re staying legally compliant and taxing them correctly. If your business falls into the majority, you’ve likely hired a few (or more than a few) family members to work at your company. Otherwise, […] READ MORE.

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Going Concern

MARCH 5, 2024

Pictured: dramatic recreation of the Big 4 revolving door Senate Finance Committee Chair Ron Wyden (D-OR) spoke very highly of her in this statement just before her confirmation as IRS chief legal counsel last Thursday: First off, Ms. She has decades of tax and management experience, both in the private sector and in public service.

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TaxConnex

NOVEMBER 30, 2023

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit to their bottom lines each year.

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TaxConnex

SEPTEMBER 28, 2023

Now it’s time to register with the states to collect and remit sales tax. You complete your sales tax registrations and file them with the departments of revenue or taxation in each state. These registrations are called sales tax permits, sometimes licenses. New York calls theirs a “sales tax certificate of authority.”

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RogerRossmeisl

SEPTEMBER 26, 2022

The IRS has compiled the annual Dirty Dozen list for more than 20 years as a way of alerting taxpayers and the tax professional community about scams and schemes. The list is not a legal document or a literal listing of agency enforcement priorities. “Taxpayers.

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TaxConnex

MARCH 23, 2021

should know about a relatively new kind of ta x – and tax obligation. The state will impose a gross receipts tax ranging from 2.5% Full of legal holes or not, will laws similar to Maryland’s mushroom in other states? TaxConnex is an outsourced sales department that can take the burden of sales tax off your plate.?

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RogerRossmeisl

NOVEMBER 12, 2023

Although most tax preparers are ethical and help ensure their clients file timely and accurate tax returns, a small percentage abuse their position of trust. Such promoters can expose businesses and individuals to financial and legal risk. They may, for example, engage in fraudulent activities that harm taxpayers.

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SMBAccountant

MARCH 8, 2023

One type of accounting that is well-known is tax accounting. According to Investopedia, tax accounting is “a structure of accounting methods focused on taxes rather than the appearance of public financial statements”. Tax accounting applies to individuals, businesses, and corporations.

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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. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

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MyIRSRelief

JULY 17, 2023

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. Section 1: The Importance of Tax Planning 1.1. Section 2: Tax Planning for Individuals 2.1.

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Accounting Today

SEPTEMBER 6, 2023

Corporate tax departments are going through major transformation in response to the challenging legal and regulatory environment, according to a new survey from Deloitte.

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CPA Practice

FEBRUARY 9, 2024

However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl 2024 is on Sunday, Feb. Usually, the payer (e.g.,

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CTP

NOVEMBER 15, 2023

Do you feel that you pay too much in tax? The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Some obvious reasons are mistakes or oversights on their tax returns. You’re not alone.

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CPA Practice

APRIL 9, 2024

But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. There are two other variations of the W-2 scheme.

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TaxConnex

NOVEMBER 8, 2022

How does sales tax fit into this? Sales tax when dollars and other “fiat money” are involved is clear: there is no sales tax due when acquiring the currency, and the currency can be used as legal tender to satisfy the purchase price of goods and services including any applicable sales tax due on the purchase price.

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MyIRSRelief

DECEMBER 1, 2023

C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. We assist in business tax compliance, preparation, planning and representation.

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RogerRossmeisl

MAY 30, 2022

Adding a new partner in a partnership has several financial and legal implications. Not as simple as it seems Although the entry of a new partner appears to be a simple matter, it’s necessary to plan the new person’s entry properly in order to avoid various tax problems. Here are two issues to consider: First, if there’s a change.

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MyIRSRelief

OCTOBER 3, 2022

If you own a property, a business, or are employed, you’ll likely have to pay taxes. According to the 16th Amendment in our Constitution, individuals are required to pay taxes from income sources. Taxes can be broken down into three categories: what you purchase, what you own, and what you earn. Call us today at 1-877-788-2937.

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MyIRSRelief

OCTOBER 30, 2023

Income Tax Return for Estates and Trusts, is a complex tax form that is used to report the income and expenses of estates and trusts. Trust tax preparation can be a challenging task, even for experienced tax preparers. Third, a tax preparer can help you to avoid costly tax penalties and errors.

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MyIRSRelief

AUGUST 1, 2023

However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Contact us for professional tax help today! However, managing payroll taxes for these two distinct driver categories can be a daunting task for trucking companies.

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MyIRSRelief

FEBRUARY 1, 2023

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws.

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MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations.

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TaxConnex

OCTOBER 6, 2022

It’s a common scenario: A company has decided to sell, then due diligence turns up a $2 million risk in past sales tax obligations and compliance. Do you have solid positions and reasons for your sales tax decisions? Can you defend your sale tax position to minimize the escrow’s impact? Let’s say you’re the seller.

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Accounting Today

OCTOBER 31, 2023

The classification of marijuana as a Schedule I controlled substance has put cannabis businesses in a bind as far as federal taxes go, even as more states move to legalize the plant.

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TaxConnex

FEBRUARY 15, 2022

A ccording to TaxConnex’s recent market survey of 100 top finance professionals, this could be the year to outsource sales tax. Three of these execs’ biggest in-house deficiencies to managing sales tax in 2022: bandwidth, internal knowledge and the right partner or solution. Legal liability. Seems like something needs to change.

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CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. It doesn’t matter that the use and sale of marijuana are legal under the laws of the state where the business is located.

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CPA Practice

JUNE 19, 2023

By Michael Aloi, CFP, Kiplinger Consumer News Service (TNS) I never recommend an investment solely for the tax benefits. If an investment makes sense as part of a diversified portfolio and can provide tax benefits, then it is a win-win. But it’s the tax advantages of real estate investment trusts that I want to focus on here.

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TaxConnex

OCTOBER 12, 2023

And one thing that can pound a stake through the heart of a promising M&A is unearthing past tax liability during due diligence. Enter past-due sales tax, a sometimes-overlooked and haunting liability that might not get the attention of, say, overdue income or property tax, until it’s too late. Requirements can vary widely.

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Cherry Bekaert

FEBRUARY 7, 2024

Understanding business entities and tax structures can save you a tremendous amount of time, money and potential headaches down the road. An LLC is one of four main legal business structures, whereas an S corp is a tax classification. This means that the partnership does not pay income tax. That rate is the sum of 12.4%

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TaxConnex

OCTOBER 28, 2021

It may be the season of ghosts and goblins, but sales tax obligations last all year, and as many would admit, keeping track of all your sales tax obligations can be quite scary. What’s your shield when the sales tax monster comes after you? With an average sales tax rate of 8%, that’s more than $2.9M A nexus review.

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CPA Practice

APRIL 22, 2024

Tax Blotter 042224 Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes. But the manager wasn’t aware of the company’s failure to pay employment taxes on time. This issue is often contested in the courts. Not my job.

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Patriot Software

FEBRUARY 21, 2024

There might come a time when you need to hire a business tax attorney. An experienced business tax attorney can help you structure your company, dispute legal challenges involving taxes, and more. Do you need to hire a tax lawyer for your business?

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