boulder county: 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)

boulder county: Do I Need To Make Estimated Tax Payments? - 01/26/23 12:17 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. You are required to make estimated tax payments if you expect to owe at least $1,000 in taxes for the year and your tax liability is not going to be fully covered by your employer through withholding. The estimated tax payments help you to pay your taxes in a timely manner and avoid owing a large amount at the end of the year.Estimated taxes are typically required for individuals who are self-employed, have income from investments, or have other types of income that are not subject to … (1 comments)

boulder county: 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)

boulder county: 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)

boulder county: 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)

boulder county: Boulder, CO: What If I Can't Pay The IRS ANYTHING? - 01/07/23 02:39 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. 
If you’re experiencing severe economic hardship—in other words, you really can’t pay the IRS anything—and still owe taxes, your debt may be deemed “Currently Not Collectible.”
Without disposable income or resources to pay tax debt, you may be able to qualify for this option, which halts all collections activities.
Once your account is in CNC status, the government typically won’t garnish your wages or come after your assets with liens or levies. However, the government can come after you again later on down the road.
If you or someone you know has back taxes to deal with, or needs assistance … (1 comments)

boulder county: Can You Beat The Odds When Facing An IRS Audit? - 12/14/22 09:31 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. It seems like virtually every single day I receive a notice on behalf of one of my clients from the IRS, and it contains penalties owed.
When it comes to tax audits, the IRS wins 80% of the time when you are not represented by a qualified practitioner. Taxpayers are deemed guilty until proven innocent, which menas the IRS can start an audit by disallowing every deduction you made on a return until each one is proven to be legitimate. 
If a taxing authority has decided to … (0 comments)

boulder county: If I Get Audited By The IRS, Should I Represent Myself? - 12/14/22 08:55 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. There are millions of taxpayers that run into IRS trouble, and many that get audited. But what if you don't want to deal directly with them?
The great thing is, you DO NOT HAVE TO TALK TO THEM. As a matter of fact, going or talking to the auditor yourself is the WORST thing you can do!
The Taxpayer Bill of Rights allows you to be represented by a qualified practitioner who can answer questions for you and provide documentation to the IRS. Many taxpayers attempt to … (0 comments)

boulder county: I Haven't Filed My Tax Return In Years - What Should I Do? - 12/09/22 01:56 PM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. Yes, there are literally millions of taxpayers that for whatever reason, just don't file their tax returns on time. How should you handle this?Many people don’t realize that the IRS charges a penalty of up to 25% just for filing your tax return late. That’s right; you will get hit with an additional 25% of what you owe if you miss the deadline for filing individual tax returns.  It’s even worse for payroll tax returns.What most people don’t know is that you can file ANY … (0 comments)

boulder county: IRS Penalties: What Happens If I Incur IRS Penalties? - 12/08/22 11:49 AM
I focus my practice on tax resolution, representing taxpayers in Colorado, Florida, Texas, New York, California and elsewhere. It seems like virtually every single day I receive a notice on behalf of one of my clients from the IRS, and it contains penalties owed.
The IRS has over 148 different types of penalties they can hit you with. And the worst part is that the IRS can also charge interest and additional penalties on the original penalty.Penalties can be such a high percentage of the total amount owed to the IRS, it usually makes sense to consider requesting the IRS to reduce all penalties to ZERO.
IRS penalties can often be reduced … (0 comments)

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

Michael Moran

The Tax Killer™

Boulder, CO

More about me…

Apex Tax Defense LLC



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