by Kristen Sutton | Aug 19, 2023 | Uncategorized
Not having enough money to pay their taxes is the most common reason people run into serious tax problems. People think they will resolve the tax problem when they have more money. This is a big mistake that can cost them dearly in terms of peace of mind and money....
by Kristen Sutton | Aug 19, 2023 | Uncategorized
Recently, the Internal Revenue Service, IRS, has increased its focus on Not for Profit entities. The IRS is focusing on compliance and collections. The IRS has become aware that many not for profit entities have either missing returns or taxes that have not been paid,...
by Kristen Sutton | Aug 19, 2023 | Uncategorized
The substance of the Pension Protection Act is complicated. The Act was enacted to allow taxpayers some flexibility with regard to inherited pension and retirement funds. Many pension and 401(k) plans require non spouse beneficiaries to withdraw the funds within 5...
by Kristen Sutton | Aug 19, 2023 | Uncategorized
Many taxpayers that contact Tax Matters Solutions, LLC are afraid of the tax authorities. Many taxpayers think that any contact with a tax authority will result in some sort of additional collection activity. Many taxpayers think, “If we call the IRS, they will...
by Kristen Sutton | Aug 19, 2023 | Uncategorized
If you are self-employed you are no stranger to taxes. The three most common taxes for the self-employed are self-employment tax, federal income tax, and state income tax. Self-employment tax is 15.3% for the first $106,800 of earned income and 3.9% for all earned...
