In recent years, there has been an uptick in the number of businesses here in Washington, D.C. and elsewhere employing workers on a remote basis. This increase in remote work has led to an emergence of tax liability concerns that employers are only beginning to...
Year: 2022
Common mistakes business owners make when filing employment taxes
There are many aspects of running a business that can give business owners more than their fair share of stress headaches – not the least of which is figuring out employment taxes. As complex as filing taxes can be at times, it’s important to get it right if you want...
A tax attorney can help you avoid wage garnishment
There are often two distinct groups as tax season approaches. Some anticipate a refund and start planning large purchases, and others know they will owe more than they can afford to pay. As tax season gets closer, you may start to worry about what you will owe and...
Common international tax mistakes U.S. businesses should avoid
Of all the complex issues that arise when doing business internationally, tax complications often rise to the top of the list. By avoiding a few common mistakes, you can maximize profitability while steering clear of potentially devastating pitfalls. A few common tax...
Qualified High Technology Company tax revisions effective after 2019
A law was enacted in 2000, The New E-Conomy Transformation Act of 2000, that allowed Qualified High Technology Companies (QHTC) to have certain tax benefits. In 2020, the QHTC Tax Incentives Modification Amendment Act of 2020 eliminated, imposed or changed limits on...
TOP 10 IRS CRIMINAL INVESTIGATION CASES FOR 2021
1. San Fernando Valley family members sentenced to years in prison for fraudulently obtaining tens of millions of dollars in COVID relief: The Ayvazyan family received sentences ranging from 17.5 years in prison to 10 months of probation for crimes including bank and...
What options do you have if you owe the IRS a debt you cannot pay?
Sometimes people forget to file their tax returns. As a result, they start receiving notices from the International Revenue Service (IRS). In this case, the IRS starts sending penalty assessments, bills and letters of enforced collection to taxpayers. The worst you...
Understanding alter ego liability
Partnerships and sole proprietorships are not separate legal entities from their owners. Therefore, the IRS treats the business and the owner as the same person for tax purposes. On the other hand, corporations are separate entities from their owners. However, the IRS...
2021 Tax Season Updates
2021 Tax Season Begins 1/24: IRS says it has updated its programming to accommodate recipients of advance child tax credit (CTC) payments and those eligible for “recovery rebate credit.” (IR 2022-8, 1/10/22) US Supreme Court & Timing of USTC Petition: Petitioner...
Aggressive tax collection for top earners
Tax evasion has been a prevalent problem for the Internal Revenue Service, leading to limited revenue collection in the United States. As a result, the IRS has resulted in aggressive tax collection measures to ensure maximum tax compliance among all high-value...