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 [...]
Dealing with the IRS can feel like navigating a labyrinth. The complex tax codes, intimidating correspondence, and potential legal repercussions can overwhelm anyone. Whether you're facing an audit, dealing with back taxes, or simply trying to ensure that your tax filings are in order, hiring a Fairfax tax attorney can be a game-changer. Let's delve [...]
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 [...]
Owe Back Business Taxes in Virginia? Owing back business taxes to the Commonwealth of Virginia can be a daunting and stressful experience for any business owner. The complexities of tax law, coupled with the aggressive collection tactics employed by the Virginia Department of Taxation, make this a particularly challenging issue to navigate alone. This is where [...]
Hire a Fairfax, VA IRS Defense Attorney When You Owe Back Taxes Owing back taxes to the Internal Revenue Service (IRS) can be an overwhelming and stressful experience. The complexities of tax law, coupled with the intimidating power of the IRS, make navigating this issue particularly challenging. For residents of Fairfax, VA, hiring a specialized [...]
This is a blurb from the Experian web site as of 2/27/2024 How a Tax Lien Can Affect Your Chances of Getting New Credit Tax liens may not appear on your credit report, but they're public records, so they can still affect your ability to get approved for credit. That's because a tax lien indicates [...]
2021 Tax Brackets, based on Taxable Income It's never too early to start thinking about your next tax return. For most Americans, that'll be your federal tax return for the 2021 tax year — which, by the way, will be due on April 18, 2022 (April 19 for residents of Maine and Massachusetts). The tax [...]
September 11, 2021, is the twentieth anniversary of the horrific terrorist attack on several targets in the United States that killed almost 3,000 people. A year after that attack, September 11 was made a national day of remembrance and mourning, known as Patriot Day, to honor the memory of those who were killed in the [...]
Are you named as the executor of someone’s estate? Do you expect to be a beneficiary of someone’s estate? If so, keep reading. A woman died in December 2003, leaving her estate to her brother, who was also the executor. He transferred all the estate’s property to himself, except for $50,000 he gave to his [...]
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 [...]
