Tips On How To Handle an IRS Notice Or Letter
Jul21

Tips On How To Handle an IRS Notice Or Letter

The IRS mails millions of letters every year to taxpayers for a variety of reasons. Keep the following suggestions in mind on how to best handle a letter or notice from the IRS:   Do not panic. Simply responding will take care of most IRS letters and notices.   Do not ignore the letter. Most IRS notices are about federal tax returns or tax accounts. Each notice deals with a specific issue and includes specific instructions...

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What Is An Offer In Compromise?
Jun21

What Is An Offer In Compromise?

Taxpayers who have a tax debt they cannot pay may have heard that they can settle their tax debt for less than the full amount owed. It’s called an Offer in Compromise. Before applying for an Offer in Compromise, here are some things to know: In general, the IRS cannot accept a settlement offer if the taxpayer can afford to pay what they owe. Taxpayers should first explore other payment options. A payment plan is one possibility....

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The US In Account On Us.
Apr20

The US In Account On Us.

Our business bookkeeping service staff members have more than 71 years combined experience in the preparation of federal and state tax returns. In addition to federal taxes, we can file taxes in all 50 states and U.S. held territories, as well as nonresident returns. If you have a tax issue we have the education, expertise and IRS designation to act on your behalf with your consent, easing the frustration of representing yourself. We...

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How Long Should You Keep Tax Records?
May20

How Long Should You Keep Tax Records?

Taxpayers often wonder how long they should keep their tax records. The short answer is it depends.  According to the IRS, the length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out. The period of...

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Choosing a Tax Professional for Your Small Business
May17

Choosing a Tax Professional for Your Small Business

If you’re like many small-business owners, you will probably use a tax professional so that you can focus your time and energy on managing and growing your business. After all, tax law and payroll management can be fairly complex and keeping up with the changing regulations can be a daunting task. So, what should you consider when choosing a tax professional and what questions should you be asking to ensure you get the best fit...

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5 Tax Tips for Starting a Business
May06

5 Tax Tips for Starting a Business

When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules, but also about payroll tax rules. The IRS offers these five tax tips that will help you get your business off to a good start. Business Structure.  An early choice you need to make is to decide on the type of structure for your business. The most common types are sole proprietor, partnership and...

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