Monthly Archive:: May 2021

TweetShareSharePin0 SharesYour Appeal Rights When Fighting The IRS Are you in the middle of a disagreement with the IRS? One of the guaranteed rights for all taxpayers is the right to appeal. If you disagree with the IRS about the amount of your tax liability or about proposed collection actions, you have the right to

TweetShareSharePin0 Shares This has been a tough year for the IRS.  For a variety of reasons not the least of which is the pandemic, it has faced numerous challenges.  My understanding is that its performance in answering the general phone line during the filing season ranged somewhere between 2-5% which is not good but it’s

TweetShareSharePin0 Shares “Raise ‘em now, we’ll cut ‘em later when we’re back in power.” That’s the message from congressional Republicans to their Democratic colleagues. NBC News  looks at the positioning. Republicans already are attacking Democrats in swing districts for wanting to raise taxes and for backing new funding for IRS enforcement (even though many Republicans

TweetShareSharePin0 Shares Minnesota Tax Attorney: Put an End to Your Tax Nightmare Source: Flickr No case is doomed to failure. However, you also need to do something to save yourself from doom. You have to take the necessary moves to preclude tax penalties and debts from quickly piling up and strangle your finances. Simply, you

TweetShareSharePin0 SharesProfessional Tax Preparation Services As a self-employed individual, I have to think about taxes all year long. From keeping meticulous business records and receipts to making estimated payments to Uncle Sam every quarter, it seems that I’m almost always doing something related to my taxes. While I don’t mind handling this day-to-day paperwork, there’s

TweetShareSharePin0 Shares In 86 questions and answers, the IRS in Notice 2021-31 gave employers, health care plans, and insurers background and clarifications on how to provide premium assistance for COBRA health care continuation benefits to affected employees and other beneficiaries and claim a corresponding tax credit. The temporary premium assistance and credit are available under

TweetShareSharePin0 Shares Property taxes are an important source of revenue for local and state governments. In fiscal year (FY) 2018 (the most recent year of data available), property taxes generated 31.1 percent of total U.S. state and local tax collections and 71.7 percent of local tax collections. Local governments rely heavily on property taxes to fund schools, roads, police