In our previous blog titled “Corporations” we reviewed the Corporation business structure. The next blog will review limited liability company (LLC). This blog is on Doing Business As (DBA).
In our previous article blog “Set Up a Business for Liability Protection” we reviewed liability protection with corporations and limited liability companies (LLC). In upcoming blogs we will review doing business as (DBA) and limited liability company (LLC). This blog is on corporations.
We get asked all the time. How do you set up a business? Do you need to file anything? Do you have to register the business? What type of business do you recommend? We will tackle these questions in a multi-part series reviewing the different business types: doing business as (DBA), limit liability company (LLC), and corporation.
We received an email from one of our clients yesterday. She received a call from the IRS. The IRS left a crazy voicemail. In the voicemail, the IRS threaten to sue her.
The IRS issued a warning to the public about phone scams. The scammers are making unsolicited phone calls to individuals falsely claiming to be the IRS. The scammer will claim taxes are owed and request an immediate payment by wire transfer or debit card. The calls are typically hostile and abusive.
Michigan will join over 40 other states that provide an Offer in Compromise program to its taxpayers. The bill HB 4003 was placed into law on July 16, 2014. Michigan has offered “Amnesty” programs in the past. The Amnesty program allowed taxpayers to fully pay the tax only. The penalties and interest were waived. However, an Offer in Compromise program is different. Taxpayers who are unable to pay their back taxes or legitimately do not owe the taxes, will be able to negotiate the tax, penalties, and interest.
A.J. Gross, C.P.A, E.A. founder of ALG Tax Solutions writes an article for The New Citizens Press about the New Michigan Offer in Compromise Program starting in 2015. The New Citizens Press is a local Lansing newspaper.
Governor Snyder signed into law HB 4003. HB 4003 allows the State of Michigan to negotiate Michigan taxes. This is exciting news for Michigan taxpayers! For the first time ever, Michigan residents will be able to negotiate Michigan taxes for less. The new law will start in 2015.
Can I really negotiate with the IRS? Does getting pennies on a dollar happen? There is no way the government would reduce my tax bill. It is the government. The government does whatever they want.
You’re expecting a large tax bill. You are afraid of the big bad IRS. The IRS will take your car in the middle of the night. The IRS will possess your home and leave you with no place to live. The IRS will wipe out your bank account and garnish your wages. The IRS will make it impossible for you to earn a living. How does the IRS expect you to pay the taxes owed if you can’t earn a living?