When you pay more taxes than your actual tax liability, you are owed a tax refund. While most people rejoice after receiving a tax refund and view it as “free money,” the reality is that there was an error in calculating what you actually owe....
The IRS is a powerful agency that not only oversees the collection of taxes but also has the authority to impose penalties, conduct criminal investigations, and seize assets. It’s understandable why receiving a notification from the IRS can make anyone panic. However, the IRS sends...
(image source) Randolph Morris played at the University of Kentucky from 2004 to 2007, where he was named All-SEC (Southeastern Conference.). In 2010, he entered the NBA, where he played for the New York Knicks and Atlanta Hawks as a center until 2010. On February 24th, 2021,...
If you owe back taxes on outstanding payroll and employment taxes, it's critical to resolve payroll tax debt as soon as possible to safeguard your company's future. The IRS assigns a higher priority to collect employment taxes than income taxes. When payroll taxes go unpaid, it...
The penalty abatement process is a way to reduce the penalty for tax non-compliance. Requesting penalty abatement can be done in different ways, but it must be done before the IRS has started an audit or criminal investigation. Unfortunately, many taxpayers assessed to have incurred...
