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Categories: Federal Tax
Help! What Do I Do If the IRS is Auditing Me for Underreported My Income? *The following article was updated in February 2022* Tax season is officially upon us! It’s this time of year that I often receive panicked questions from clients telling me they’re being audited by the Internal Revenue Service (IRS) because they...
Categories: IRS
Help, I’m Being Audited During a Pandemic! Receiving an audit notice from the IRS is scary. But receiving one in the midst of a global pandemic, and at a time when your business may already be feeling the effects of that, can be even more overwhelming. Here are five things to do if you find...
Categories: California Tax Law
Does California Tax Social Security? I often receive questions about social security benefits and whether it is considered taxable income, especially by the state of California. The answer is: it depends. Social security benefits are not taxable by the state of California. The amount of social security benefits you included in adjusted gross income on...
Categories: IRS
What are the Penalties for Late Payment of Payroll Taxes? I’m often asked by business owners what will happen if they are late paying payroll taxes to the Internal Revenue Service (IRS). Employers should be collecting payroll taxes for every employee (with the exception of independent contractors). They are typically calculated as a percentage of...
Categories: IRS
Is the IRS Keeping My Refund? One of the best feelings is filing your taxes and realizing you’re entitled to a refund. The thought of money coming into your pockets is an exciting thing. However, there are a few circumstances in which the IRS may keep your refund, especially if you owe them money in...
Categories: IRS
Do You Have to Pay Taxes on Profit from Selling a House? I’m often asked by homeowners about potential taxes they may owe when they sell their house. Many individuals wonder if they make a profit, do they owe part of that profit to the Internal Revenue Service in the form of capital gains taxes....
Categories: IRS
Understanding IRS International Compliance: The Streamline Program Understanding the IRS international compliance problems can be daunting. Some people are born in another country, have family members in another country, somebody passes away. Now they have a bank account or a piece of property that’s in their name. There are certain requirements when you file your...
Categories: IRS
Will the Government Think I’m Guilty if I Hire a Tax Attorney? One of the most common questions I get when someone reaches out to me for help is will the government agent, or agency, think I’m guilty because I hired a tax attorney? Will they think I’m hiding something or trying to run away...
Categories: IRS
Do These 4 Things Now to Make Filing Taxes in 2021 a Simple Process It’s not quite the end of 2020 and tax season may seem like quite a way off. However, there are things you can do now to prepare to file taxes in 2021. Taking an hour or two when your business has...
Categories: IRS
How Do I Avoid an IRS Audit in 2021? No business owner or individual wants to deal with an IRS tax audit. As the year comes to a close, it’s a good time to review your financial records as you prepare to close out 2020 and file taxes early next year. Here are five things...
