back taxes: How Back Payroll Tax Problems Start - 08/15/23 09:00 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. 
Back payroll tax problems can cause real headaches for any business owner. They can cost your business time, resources, and money. Understanding how these issues arise can help you take appropriate action to avoid them. Here are some common reasons why back payroll tax problems start.
Incorrect Employee ClassificationOne common way that businesses run into back payroll tax problems is by improperly classifying employees as independent contractors. This mistake can trigger substantial tax liabilities if the IRS determines that the worker should have been classified as an … (0 comments)

back taxes: What Is An IRS "Substitute For Return"? - 07/10/23 11:47 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. 
The IRS Substitute for Return (SFR) is a program that the IRS uses when a taxpayer fails to file a return or owes taxes but fails to respond to IRS correspondence and other attempts to get them to comply. The SFR program allows the IRS to create a tax return for the taxpayer in the absence of them filing their own return.
When the IRS creates a substitute return, they estimate taxes due based on the limited information they have. This estimate is usually higher than the … (0 comments)

back taxes: Can I Go To JAIL For Not Paying Payroll Taxes? - 07/07/23 11:29 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. As a business owner, it is your responsibility to make sure that you are paying your payroll taxes on time and in full. Failure to do so can have serious consequences, including fines, penalties, and even jail time.
If your business fails to pay payroll taxes, the IRS can take legal action to collect the money owed. Penalties and interest will continue to accrue on the outstanding amount until it is paid in full. However, if the IRS determines that the failure to pay is due to willful … (1 comments)

back taxes: IRS Payroll Tax Issues: Causes and Solutions - 07/06/23 11:03 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. Payroll tax issues can cause significant headaches for businesses, especially small ones that may not have the resources to stay compliant with the rules and regulations of the Internal Revenue Service (IRS). In this blog, we will discuss the causes of payroll tax issues and provide some solutions to help businesses overcome them.
Causes of IRS Payroll Tax Issues
The following are some of the causes of IRS payroll tax issues that businesses may encounter:
Misclassification of employees - businesses may classify their workers as independent contractors instead of … (3 comments)

back taxes: What is an IRS CP-14 Notice and Why Should I Care? - 05/15/23 10:50 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. In another week or two, the IRS will be issuing the first wave of several million “CP-14” notices. So what, you ask? Well, this is round one of many waves to come.
During the pandemic years, the IRS has refrained from unleashing the full release of these notices and collection activity. Now that the pandemic is over and the IRS is flush with $80 billion, it’s go time.
An IRS CP-14 notice is a letter issued by the IRS to notify taxpayers that they have an outstanding tax … (0 comments)

back taxes: What Are Your Chances Of Being Audited By The IRS? - 05/03/23 08:14 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. Many taxpayers worry about the possibility of being audited by the IRS, but the likelihood of an audit is relatively low (at this point in time), although that is expected to increase with the additional hirings the IRS is making.
Several factors can increase your chances of being audited, including:
High Income: Taxpayers with high incomes are more likely to be audited than those with lower incomes.  Self-Employment: Self-employed individuals are more likely to be audited than those who are employed by a company, especially if you … (1 comments)

back taxes: Boulder, CO: What Is an IRS Partial Pay Installment Agreement? - 04/27/23 10:30 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. An IRS partial pay installment agreement is a payment plan that allows taxpayers to pay off their tax debt in smaller, more manageable monthly payments. Unlike a traditional installment agreement, a partial pay installment agreement allows taxpayers to pay less than their full tax debt over a longer period of time.
To qualify for a partial pay installment agreement, taxpayers must first submit a financial statement to the IRS, which outlines their income, expenses, and assets. The IRS will then review the financial statement and determine if the … (0 comments)

back taxes: When Do I Need A Tax Resolution Expert? - 04/18/23 08:49 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. When it comes to taxes, individuals and businesses alike want to make sure they’re in compliance with the government’s regulations and laws. But sometimes, that can become a bit more complicated than anticipated, resulting in the possibility of facing a tax penalty or audit. That’s why it’s important to consider hiring a tax resolution expert if you’re ever in this situation. Here are seven reasons why:
 
They’re Experts – Tax resolution experts are up-to-date on the latest tax regulations and know how to best leverage their … (1 comments)

back taxes: How To AVOID Tax Filing Mistakes - 04/09/23 02:54 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. When you are filing your taxes, avoiding mistakes is essential. Even minor errors can cause big problems with the Internal Revenue Service (IRS). To prevent this from happening, there are several things that you can do to avoid common mistakes and potential issues with the IRS.
First, it is important to double-check all of your information before submitting it to the IRS. Make sure all of your calculations are correct and that your deductions are valid. Take your time so that you don’t rush and make errors that … (0 comments)

back taxes: What Is an IRS "First Time" Penalty Abatement? - 04/07/23 08:01 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. Many poeple have heard of the IRS "First Time" Penalty Abatement, but what exactly is it?
The IRS First Time Penalty Abatement (FTP) is a program available to taxpayers who have incurred late filing and/or late payment penalties on their federal income tax returns. The program waives any applicable penalties for taxpayers who qualify. Generally, to qualify for FTP, the taxpayer must meet the following three criteria:
1) The taxpayer must have had no prior penalties for the last three tax years.
2) The taxpayer must show reasonable cause … (0 comments)

back taxes: Are YOU A Person Of Interest With The IRS? - 04/03/23 07:37 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, and across the United States. Are you a person of interest with the IRS? Do you owe tons of money? Do you have outstanding tax issues? Then it's time to address these issues immediately. The IRS is beefing up all areas of collection, so now would be a great time to get your tax issues in order.
There are several things you can do on your own:
1 -  make sure you are in compliance
2 - set up a payment plan for outstanding tax debt
3 - address the IRS notices and put a … (2 comments)

back taxes: What Is An IRS Tax Lien? - 02/24/23 09:20 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. An IRS tax lien is a serious tool used by the IRS to secure payment of back taxes owed. Whenever someone fails to pay federal income taxes, the IRS will place a tax lien against the person’s property, including their personal and real estate assets.
The purpose behind the tax lien is to secure the right of the IRS to collect the taxes owed. This means that the IRS has the right to collect the amount owed even after the taxpayer has sold their property by … (2 comments)

back taxes: I Entered My Banking Info Incorrectly For My Refund-NOW WHAT? - 02/23/23 08:40 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. An unfortunate common mistake that happens when you prepare your tax return is recording the banking information for direct deposit refunds incorrectly.
Taxpayers need to be extremely careful when entering the banking and routing numbers for direct deposit refunds. If you enter the wrong number, obviously the refund will not be hitting your bank account. There are a couple of steps that you can take:
 
    If the return hasn’t already posted to the IRS system, you can call them and ask to stop the direct deposit. 
  … (1 comments)

back taxes: Do You Qualify for an IRS "First Time Penalty Abatement"? - 02/22/23 01:37 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. The IRS First Time Penalty Abatement (FTP) is a program available to taxpayers who have incurred late filing and/or late payment penalties on their federal income tax returns. The program waives any applicable penalties for taxpayers who qualify. Generally, to qualify for FTP, the taxpayer must meet the following three criteria: 
1) The taxpayer must have had no prior penalties for the last three tax years.
2) The taxpayer must show reasonable cause for the penalty incurred (e.g. a death or illness in the family, natural disaster, etc.).
3) … (0 comments)

back taxes: How Do I Prepare For An IRS Audit? - 02/02/23 11:56 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. Preparing for an IRS audit can be a stressful experience, but it doesn't have to be. Doing the necessary preparation prior to the audit can help things go smoothly. Here are a few steps you can take to help prepare for an IRS audit:
Gather all required documents: It’s essential to make sure you have all the documents you need to provide to the auditor. This includes a copy of the previous year’s tax returns, 1099s and other financial documents. Make sure your documents are … (0 comments)

back taxes: What Should I Look For In A Tax Resolution Firm? - 02/01/23 08:10 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. If you are facing IRS tax issues, you may be considering hiring a tax resolution company to help resolve them. It can be difficult to trust someone else to handle your financial and legal affairs, but choosing the right company can make a significant difference in resolving your tax issues. Here are some key factors to consider when selecting a tax resolution company:
Reputation: Look for a company with a good reputation in the industry. Read customer reviews and do your research online.
Experience: Choose … (0 comments)

back taxes: How Does IRS Tax Collection Actually Work? - 01/29/23 11:35 AM
I focus my practice on tax resolution, respresenting taxpayers in Colorado, Florida and across the United States. The IRS is responsible for collecting taxes from individuals and businesses in the United States.
The process of collecting taxes begins with the filing of tax returns. Taxpayers are required to file their returns by a certain date, typically April 15th for individuals, and pay any taxes owed.
If a taxpayer fails to file their return or pay their taxes, the IRS will take action to collect the unpaid taxes. This process is known as IRS collection. The first step in the collection process is typically a … (0 comments)

back taxes: What Can I Do If I Get Hit With a Tax Levy? - 01/26/23 10:21 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. A tax levy is a legal action taken by the IRS to collect unpaid taxes by seizing a taxpayer's assets, such as wages, bank accounts, and property. If you receive a notice of tax levy, it's important to take immedate action to resolve this issue. Here are some steps to take:
1 - Contact the IRS  - you can contact the IRS to request a release of levy or to discuss payment options
2 - Request a hearing - you can request a hearing with the IRS … (1 comments)

back taxes: What Is An IRS "Offer In Compromise"? - 01/24/23 08:56 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. If you can't full pay under an installment agreement, you may apply for an Offer in Compromise (OIC).
An OIC is an agreement between a taxpayer and the IRS that resolves a taxpayer's tax liability by payment of an agreed upon reduced amount. Before an offer can be considered, you must have filed all tax returns, have received a bill for at least one tax debt included on the offer, made all required estimated tax payments for the current year, and made all required federal tax deposits for the current … (0 comments)

back taxes: Boulder, CO: What Realtors Need To Know About Mileage Logs - 01/18/23 12:57 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. One of the most important things I tell any realtor I meet (in addition to any realtor that has become a client) is they MUST keep a log of their mileage. Unfortunately, stressing this point sometimes falls by the wayside.
If you find yourself in this predicament, or are currently under audit, here are a couple of options you have to keep up with your logs:
1 - If you did not record a mileage log throughout the year, go back into your calendar and start creating it. You should have the starting odometer mileage for the year as … (1 comments)

 
Michael Moran, The Tax Killer™ (Apex Tax Defense LLC)

Michael Moran

The Tax Killer™

Boulder, CO

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