What is an Installment Agreement?

Posted on: March 13th, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq. on 10/3/2013   As a practitioner, I often meet with clients who have received notices from the IRS stating that they owe several thousands of dollars and must pay it by a certain date.  These clients feel overwhelmed, stressed, and feel like they are out of options because they […]

Obtaining Relief from IRS Penalties

Posted on: February 27th, 2014 by sashworth No Comments

  Written by Peter McFarland, Esq. If you find yourself with a notice in hand from the IRS, you will likely see a penalty or two assessed on your account. Often IRS penalties will add a significant portion to the total amount you need to pay. Relief from these penalties can be obtained and it […]

Overview of IRS Penalties – Individual Income Taxes

Posted on: February 19th, 2014 by sashworth No Comments

Written by Peter McFarland, Esq. on 10/9/2013 In 1955 there were only 14 penalties that the IRS could assess. Today, there are more than ten times that number! With this huge increase in the types of penalties the IRS can assess, clients are constantly asking what can be done to lessen the effect of these […]

Choosing a Business Entity for your Real Estate Activities

Posted on: January 14th, 2014 by sashworth No Comments

By: Scott Estill, Esq. and Stephanie Long, Esq. There are many different business entities that a real estate investor should consider when starting their real estate company. However, there is no “one size fits all” entity for every investor. Each entity has its advantages and disadvantages, and it is only with careful planning that a […]

New Tax Laws for 2013

Posted on: January 7th, 2014 by sashworth No Comments

The wait for some certainty in tax planning for 2013 has ended (finally) as Congress passed (and the President signed into law) the American Taxpayer Relief of Act of 2012.  Here are the major provisions as they affect individuals and small business owners: The 39.6% tax bracket is revived (from 2002 and pre-Bush tax cuts) […]

Understanding Your IRS Collection Notice

Posted on: December 6th, 2013 by sashworth No Comments

  IRS collection notices can be a source of stress and sometimes even embarrassment.  Taxpayers fall behind, it happens. The problem is that when a taxpayer owes the IRS money, a flood of notices come to the mailbox and often it’s hard to tell how serious any threats found within the letters are.  Some correspondence […]

IRS Scam Warning

Posted on: November 25th, 2013 by sashworth No Comments

Recently, the IRS has confirmed that a scam exists where a fake IRS agent makes contact with taxpayers and intimidates them into paying taxes that they don’t actually owe. The IRS confirmed a few details of what to look for in relation to this scam: Scammers will use common names and surnames to identify themselves […]