Question: I am on a re-payment plan but the interest and penalties are adding up to more than my original debt and going up fast. How can I remove penalties but keep paying my taxes only? Is there a hardship form or another form I can complete to have IRS remove fees and penalties? Continue reading…
Get Your IRS Tax Refund
On March 11, 2015, the IRS announced they were holding on to more than $1 Billion of refunds for people who have not filed a 2011 tax return. If they did not file a 2011 tax return by April 15, 2015, then those people lost their tax refund. There is a statute of limitations for claiming a refund. If you are in this situation, there are forms you can file to get your refund prior to the statute expiring. Continue reading…
IRS Statute of Limitations for Tax Audits
How many years back can the IRS audit your tax return? Have you ever wondered how long you should keep documents used to prepare your tax returns? In this article, I review the IRS statute of limitations for audits. Continue reading…
PayPal and eBay Sales Can Cause Tax Problems
Over the last few years, taxpayers that use PayPal and eBay to sell goods are getting a strange form. The form is 1099-K, Payment Card and Third Party Network Transactions. Don’t ignore this form. You may be in for a big surprise if you do.
Request First Time Penalty Abatement
The IRS has all sorts of penalties. There is up to 25% penalty for filing a tax return late. There is up to 25% penalty for paying taxes owed late. For payroll taxes, there is up to 15% penalty for not paying deposits timely. By the time the IRS gets done charging penalties your tax could double! If you made a one-time mistake, you may qualify for removal of all penalties charged. Continue reading…
Top 3 Bookkeeping Tips
Owning a small business is tough. You are juggling many roles: salesperson, marketer, manager, technician, visionary, and many more. One of the vital roles in your business is keeping track of your books and records. Some small businesses are unable to hire a full time bookkeeper or hire an accounting firm to maintain the books. This means the bookkeeping will be done in-house by you. Here are some do-it-yourself bookkeeping tips.
ALG Tax Solutions Featured on Lansing WILX News 10
A.J. Gross, President of ALG Tax Solutions, was interviewed by Lorne Fultonberg of Lansing WILX News 10.
IRS Email Scam
One of my clients just received this email phishing scam.
5 Benefits of Filing Taxes Early
It’s tax time again, your favorite time of the year! You are eager to gather all your tax documentation and giving it to your tax accountant. Ok, maybe this is not you. But, there are some benefits of filing your taxes early.
What is a Limited Liability Company (LLC)?
In our previous blogs we reviewed Corporation and Doing Business As (DBA) business structures. This blog is on Limited Liability Companies (LLC).