Tax

Home » Tax » Page 2
Federal Taxes are Only Half the Battle

Federal Taxes are Only Half the Battle

An audit by the Internal Revenue Service (IRS) can be a long and cumbersome process — but the Internal Revenue Service audit is only half the battle. Following a federal tax audit, you will need to file an adjustment with New York State. You are required to report any...

read more
What is a Collection Due Process (CDP) Hearing?

What is a Collection Due Process (CDP) Hearing?

If you have outstanding debt, the IRS may pursue a collection action. A Collection Due Process Hearing — commonly referred to as a “CDP” — is typically a taxpayer’s last opportunity to resolve a controversy with the Internal Revenue Service (IRS) before resorting to...

read more
What is the Collection Appeal Program (CAP)?

What is the Collection Appeal Program (CAP)?

The Internal Revenue Service (IRS) may levy your assets, seize your property, and issue a federal tax lien if you have unpaid taxes. A Collection Appeal Program (CAP) can be requested by taxpayers to challenge a collection action by the IRS. This procedure provides an...

read more
Answering Tax Audit FAQs With Joshua D. Brinen

Answering Tax Audit FAQs With Joshua D. Brinen

https://vimeo.com/840148071?share=copy What is an information document request? An information document request is a formal notice from the Internal Revenue Service. During an audit in which the Internal Revenue Service personnel, be they an agent or an officer, will...

read more
Understanding Interest Charged by the IRS

Understanding Interest Charged by the IRS

Tax is due to the Internal Revenue Service (IRS) on the return filing date. If you fail to pay all taxes owed when due, interest will be charged and continue to accrue from the return until it has been paid in full. Filing for an extension does not extend the time you...

read more
Preparing Your Corporation for its Tax Filings

Preparing Your Corporation for its Tax Filings

For the purposes of filing federal income taxes, a corporation is considered a separate taxpayer. Any profit made is taxed to the corporation when earned and then taxed to the shareholders upon distribution as dividends. Critically, corporations that generate net...

read more