Tax Liens in Virginia If you’re struggling with a tax lien on your home in Virginia, you’re not alone. Tax liens can feel overwhelming, especially when you’re juggling complex IRS rules, state regulations from the Virginia Department of Taxation, and the daily stress of protecting your property. The Sodowsky Law Firm, based in Fairfax, is [...]
Fairfax Tax Attorney Can Help You Negotiate Tax Debt with the IRS Owing tax debt to the Internal Revenue Service (IRS) is a daunting experience. Whether it’s due to unpaid taxes, late filings, or other tax-related issues, the consequences can be severe. Penalties, interest, wage garnishments, and even property liens may follow, making the situation [...]
Why Virginia Uses Tax Levies When You Owe Back Taxes When it comes to collecting unpaid taxes, the state of Virginia has various tools at its disposal to ensure compliance. One of the most significant and impactful methods is the use of a tax levy. If you owe back taxes to the state of Virginia, [...]
Owing back taxes to the Virginia Tax Department can be overwhelming, especially when you’re trying to find a way to settle your debt without sinking your financial ship. One option that might catch your eye is the Offer in Compromise (OIC) program, which allows you to settle your tax liabilities for less than the full [...]
The IRS has recovered $1.3 billion from Wealthy Americans The IRS has recently intensified efforts to crack down on wealthy American tax dodgers, recovering a staggering $1.3 billion in unpaid taxes since the fall of 2023. This increased focus on high-income earners who evade taxes is an essential step toward addressing the growing concerns around [...]
Small Business - Corporate Transparency Act - New Reporting Requirement Millions of small businesses are formed within the United States each year as corporations, limited liability companies, or other corporate structures. These businesses play an essential and legitimate economic role. Small businesses are a backbone of the U.S. economy, accounting for a large share of [...]
Don’t Get Zapped $591 Per Day!! Avoid $591 per day Penalty - Corporate Transparency Act Are you an owner of a limited liability company (LLC) or a corporation or a limited liability partnership? If not, you can skip this article. However, if you do have an ownership interest, you should keep reading. You must take [...]
When it comes to deducting unreimbursed business expenses on your tax return, if you are a “starving artist,” you get a special tax break that other “regular” employees don’t. Prior to 2018, employees could deduct unreimbursed business expenses in the Miscellaneous Itemized Expense section on Schedule A, subject to the 2%-of-adjusted-gross-income threshold. The 2017 tax [...]
The COVID-19 pandemic made the past year quite difficult for everyone as we all struggled with significant changes in our daily lives. Learning how to work and attend school remotely. Not getting to dine out with family and friends. Not getting to visit and hug loved-ones, be they parents in nursing homes or our grandchildren [...]
