6 REASONS TO OUTSOURCE PAYROLL

6 REASONS TO OUTSOURCE PAYROLL

As an attorney who makes his living resolving tax liabilities, the majority of my clients are businesses that have accrued 941 employment tax liabilities.  There are numerous reasons as to why a business accrues a 941 tax liability.  These reasons range from mere lack of funds resulting from both internal […]

WILL THE IRS SEIZE MY ASSETS, MY BUSINESS OR MY RESIDENCE?

You and/or your business have accrued a tax liability and are now receiving increasingly threatening letters from the IRS that indicate that they are going to seize your assets.  Many questions arise.  Can the IRS actually do this?  Will they seize my corporate assets and shut my business down?  Will […]

UNDERSTANDING IRS SUCCESSOR, TRANSFEREE, NOMINEE, AND ALTER EGO LIABILITY

You invested your entire savings and better part of your working life into your business in an attempt to have it succeed and ultimately grow.  During this time many unforeseen obstacles occurred that caused you to have to make difficult decisions, one of which was to forego making a tax […]

Tax Compliance: What You Need to Know to Become Eligible for an IRS Installment Agreement or Offer in Compromise

In order to be eligible to resolve an outstanding federal tax liability on a voluntary basis (e.g. Installment Agreement, Offer in Compromise), as opposed to having it forcefully resolved through collection action such as levies, garnishments, and the seizure of assets, the IRS has two basic requirements. The first requirement […]

Innocent Spouse Relief and Other Methods of Relieving a Spouse of a Joint IRS Liability

If the IRS is pursuing collection action against you for an income tax liability for which you believe you are not responsible because the liability was derived from a spouse (or former spouse), you may be correct and have legal grounds to dispute the liability. The IRS has a specific […]

Businesses Who Rely on Factoring or Receivables/Inventory Secured Lending Beware: Understanding the IRS 45-Day Rule and the Potential for Disaster if Federal Taxes Are Not Paid

Many businesses rely on the use of their accounts receivable or inventory as collateral for loans or for factoring. However, in my experience, few business owners fully grasp how devastating the consequences can be if they engage in this type of financing and fall behind with federal taxes. Unfortunately, fully […]

Will the IRS Garnish My Wages?

Question:  Will the IRS garnish my wages or Levy my wages? How can I avoid this? Answer:         In order to answer this question effectively, some background and definitions with regards to IRS procedures are warranted.  A levy on wages is where the IRS effectively takes a portion of ones wages […]