IRS warns of messy tax filing season – iHeart’s Talk Radio WIOD Miami asked Carlos Samaniego to come on the air and discuss. 🎙 Carlos is the founder of Tax Debt Consultants. He’s an Enrolled Agent and an NTPI Fellow, an elite group of professionals with significant expertise in representing taxpayers before the IRS.…
Are you getting married soon? How much do you know about your soon to be spouse? This is embarrassing, but true. When I got married to my beautiful wife, you see in this picture below. I hadn’t filed my taxes in years and owed the IRS tens of thousands of dollars in back taxes. Looking…
Imagine this: • Tax deduction for you • Tax-free income for Mom and Dad It doesn’t have to be Mom and Dad. The tax-free income can go to your brother or sister, or your best friend. To make this work, you need to have a business reason to travel and stay overnight at the Mom…
The IRS is serious about tax evasion. You may have been putting off filing your taxes because you thought it wasn’t necessary, but the IRS will not hesitate to penalize any who don’t pay up on time. They realize that by failing either of these two ways they could lose hard-earned money from their budget…
Not every day is a good day to be in business. The taxes we have been dealing with for years can make it difficult and stressful, but there are ways around them if you know what they all mean! A little preparation could save your company from an audit or worse – legal trouble later…
You don’t have to be a victim anymore.This morning I got this message you see above. This taxpayer had $5618.49 withdrawn from his bank account.How is he supposed to live on $45 in his account?The thing is the IRS and the State of California don’t care if you can survive. They just want you to…
In our files, we show that you have a self-employed business that you file on Schedule C of your Form 1040. As you likely know, in times of economic dislocation such as the COVID-19 pandemic, the self-employed get no special government help. For example, you generally do not receive benefits that employees get, such…
Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS refund check is all but a thing of the past. However, since the IRS now does most of its auditing through correspondence, an IRS letter can likely increase your heart rate and, in…
The PayPal loophole is going away in a little over six months from now. You may remember the strategy where you can avoid giving 1099s to contractors and vendors when you use PayPal or a similar service as your payment platform. With this strategy, you push the reporting requirements to PayPal. Current federal law requires…
