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Archive for the 'News' Category

Can The IRS Take My House If I Don’t Pay My Taxes?

Monday, November 26th, 2012

Many are concerned about the fact the IRS can take their house for not paying their taxes and may need tax representation or help with the IRS. This is a delicate topic but can easily be dealt with if done right.
The IRS can seize assets, including your primary residence.  So yes, the IRS can seize [...]

Case Settled, Payroll Taxes, Civil Penalty, Individual Income Taxes

Saturday, February 4th, 2012

I apologize for not updating the blog, but I have been really busy.
I have settled a very very large case. I have settled a case that started in 2007. The client had not filed an income tax return, or for that matter, any tax returns in a number of years. The client [...]

I am a CPA

Thursday, January 26th, 2012

I am a small business owner. I am a CPA and I take great pride in those initials. To become a licensed CPA, I had to complete a Bachelor’s Degree of education, and pass a very difficult exam. After passing the exam, a CPA candidate must work for/under a CPA for 3 [...]

Unemployment problem, Client Received Benefits and now must Repay

Wednesday, January 25th, 2012

I have just recently been hired by a new client. She was downsized in January 2009. She received severance pay until March 2009. In April 2009, she applied for and was granted Unemployment benefits. She received benefits because she had suffered a significant drop in her income; however, she was still [...]

IRS Reports 17% of Taxes Owed were Unpaid

Saturday, January 7th, 2012

There is a Washington Post article that I found this morning. It reports that the IRS has finally calculated how many dollars of taxes they did not collect in 2006.
The report and the data are from 2006. The IRS says this is the most recent data they have. That information is going [...]

Individual Income Tax Preparation

Wednesday, January 4th, 2012

There is a process to preparing a bunch of individual income tax returns. The first step in the process is to roll all of the firm’s clients into the next tax year. This process took the better part of 3 days. Now that I have every client into the correct year, the [...]

Client Referral Program

Friday, December 30th, 2011

Tax Matters Solutions, LLC is pleased to announce its client referral program. If you are a client, or become a client, you are invited to participate. We give you the $25 for any referrals you send our way. This is real simple. When you become a client, you will receive cards, [...]

IRC 6699 Penalty, Corporation Assessed Penalty for Failing to Timely File Corporation Tax Return

Thursday, December 29th, 2011

I represent a corporation that has been assessed a penalty under IRC 6699. Essentially, the IRS charges a penalty to a corporation if the corporation does not timely file an income tax return.
The IRS charges $195 per month per shareholder for not to exceed 12 months. So if you have 2 [...]

Man gets 4.5 years for tax evasion

Tuesday, December 20th, 2011

Charles Irby, 46, of Laurel, MS will serve 54 months in federal prison for tax evasion convictions on six separate counts. Irby was also ordered to pay $1.06 million in restitution to the IRS and a $15,000 fine in addition to serving eight years of post-supervision release. Irby was convicted by a jury in August [...]

IRS free resources help employers choose and maintain retirement plans

Friday, November 11th, 2011

Do you need help in thinking about offering a retirement plan to your employees? The Internal Revenue Service can help. The IRS has free resources on starting and maintaining retirement plans to help you make informed decisions for yourself and your employees.
For small business owners who want to start a retirement plan, the IRS is [...]