You filed your Partnership return late. A few months later, you receive a letter from the IRS. The IRS charged the Partnership late filing tax penalties.
Partnership tax returns are generally due on April 15. Unless an extension is filed. If you miss the filing deadline, the IRS will issue late filing tax penalties. You may be able to remove the IRS tax penalties. Click Here to learn about penalty abatement. Continue reading…
How is this for a story? Client is scammed out of $120,000 of retirement. The retirement is considered taxable income. A return is filed and the client owes $30,000 of taxes. Talk about adding insult to injury.
How about this for an success story? Client owed $100,000 in IRS back taxes and walked out with a refund. Yes this happened. It was not easy.
On occasion we get a doozy. In this particular case, we had to force the issue with the IRS. Pursing the IRS is a little backwards. Normally, we are consistently trying to keep the client out of the IRS light. But in this case the client could no longer afford to be ignored by the IRS.
Faith makes things possible, not easy – Anonymous
The following are 3 cases where we settled taxes for less.
A colleague of ours is putting on a health and financial workshop. This should be a truly inspirational and creative workshop.
You are in a stressful tax situation. You do not know what to do and you’re overwhelmed. You are not beyond tax help. There are many people dealing with tax problems. There is a solution. Read these pages to find out more on possible tax help solutions available to you.
Currently Non-Collectable status is for taxpayers that are unable to pay back taxes. The IRS back taxes will not go away. You will still owe the taxes. However, due to your financial condition, the IRS will not try to collect the back taxes.
Starting a new business or own a small business? Do you know what you can write-off? The IRS offers guidance that every business owner should read once.
