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When it comes to dealing with tax issues, it can be stressful and overwhelming, generally when facing the Internal Revenue Service (IRS). No matter whether it is unpaid taxes, audits, penalties, or the burden of unresolved tax problems, it hangs over people and businesses, affecting their capacity to maintain financial stability and mental peace. If [...]
There are many advantages to being self-employed, but with every silver lining comes a cloud in the form of paying higher taxes under the guise of both social security and Medicaid. Collectively, these taxes are referred to as "Self-Employment" taxes. Generally speaking, these taxes are significantly higher than those one would pay if he or [...]
If you have received an alarming notice from the IRS that your tax return needs to be audited, you shouldn’t be worried as it happens to a number of taxpayers every year. To deal with this matter, you need to use your wit and follow some meaningful strategies that are given below: Learn about the [...]
One of the worst things anyone can do when receiving an examination letter from the IRS is to ignore it. IRS will inevitably follow through with their proposed assessments if not contested. Dean Michael recommends professional representation for all examination inquiries. It is a common belief that if no wrongdoing occurred, being completely honest with [...]
