Even though we are in the midst of the coronavirus pandemic, and the tax filing deadline has been pushed back, millions of Americans who are required to file their tax returns will get a surprise…
3 Reasons to Resolve Your IRS Tax Debt Now
Do you owe money to the IRS? If you do, you’re not alone. The Internal Revenue Service (IRS) found that more than 14 million Americans owed over $131 billion in back taxes, penalties, and interest…
What Do I Do if I Have Unfiled Tax Returns?
In this month's episode, I discuss the steps you need to take to regain filing compliance with the IRS. Additional Resources: Applicable Law: 26 IRC § 301.6020-1 Filing Past Due Returns (Small Business Owners) Unfiled…
How Do I Ask the IRS for More Time to File My Tax Return?
In this month's episode, I discuss the steps you need to take to file an extension on your tax return. Additional Resources: IRS Website - Information For Expatriates/Living Abroad Referenced Forms: Form 4868 Form 2350
How to Qualify for First Time Penalty Abatement
The Internal Revenue Service imposes millions of dollars in tax penalties every year. In Fiscal Year (FY) 2018, the IRS collected more than $55.5 billion in unpaid assessments on returns filed with additional tax due,…
IRS Transcripts: What Are They Are and Why Are They Important?
An IRS transcript is a record of your tax returns from previous years.[1] This summary or overview of your tax return information is available in five different types of reports. They include most line items…
How to Handle Tax Bills When Money is Tight
For many of us, our budgets have been pushed to the limit due the impact of the coronavirus. Because of this, tax bills may present a challenge this year. However, many states and the federal…
U.S. Tax Court Practice & Procedure
U.S. Tax Court rules of practice and procedure.
FBAR e-Filing FAQ’s
Frequently asked questions for individual e-filers with the Financial Crimes Enforcement Network (FINCEN).
FBAR Reference Guide
This Guide is provided to educate and assist U.S. persons who have the obligation to file the FBAR; and for the tax professionals who prepare and electronically file FBAR reports on behalf of their clients.