An IRS levy is a legal seizure of your property or rights to property to satisfy a tax debt. Unlike a lien, which is simply a claim against your property, a levy actually takes your property. The IRS can levy a wide range of assets, including: Bank accounts Real estate Cars and other personal property...
As remote work, business travel, and cross-border commerce become more common, more Americans are finding themselves subject to tax obligations in multiple states. Whether you’re an employee working remotely, a business owner with customers in several states, or a frequent traveler, understanding how state tax rules overlap is essential to avoid double taxation, penalties, and...
One of the most common—and costly—mistakes taxpayers make is trusting the wrong person to prepare their taxes. A recent federal case out of Florida shows how that decision can expose taxpayers to serious risk, even when they believe they’re doing everything right. Khristine N. Harper, a Pensacola tax preparer, pleaded guilty to 20 counts of...
Owing back taxes doesn’t always mean you have to pay everything at once. For many taxpayers, an IRS Installment Agreement can be an effective way to stop collection actions and regain financial stability—without draining savings or disrupting daily life. At Accutax, we help individuals and business owners navigate the IRS system and secure payment plans...
If you owe back taxes, you may have experienced a confusing—and frightening—pattern: months or even years of silence from the Internal Revenue Service, followed by a sudden flood of threatening letters, levies, or liens. Many taxpayers assume the IRS has forgotten about them. Others believe their problem has somehow “gone away.” Unfortunately, neither is true....
Which IRS Form 433 Should You Use? A Simple Guide When you owe the IRS and need to resolve your tax debt, you may be asked to complete a Collection Information Statement (CIS). The IRS uses several versions of Form 433 to collect your financial information, and choosing the correct one is crucial...
CPA vs DIY Tax Software: Making Informed Choices for Your Business Should you do your own taxes or hire a tax professional? Navigating the complex landscape of business taxes is a crucial aspect of financial management for entrepreneurs. When it comes to preparing and filing taxes, businesses often face the decision of choosing between...
As an entrepreneur, managing a business involves juggling numerous responsibilities, from developing innovative products or services to building a strong customer base. Amidst these challenges, financial management often takes center stage. While many entrepreneurs view Certified Public Accountants (CPAs) primarily as tax professionals, their role extends far beyond annual tax filing. In this article, we...
Introduction: Claiming your parents as dependents can provide valuable tax benefits, but it’s important to understand the rules and requirements to ensure compliance with the Internal Revenue Service (IRS) regulations. In this guide, Accu Tax explores the intricacies of claiming your parents as dependents, shedding light on eligibility criteria, supporting documentation, and potential tax deductions....
Form 9465, also known as the Installment Agreement Request form, is a document that taxpayers can use to apply for an IRS installment plan through the mail. This form is also helpful in preparing for an online payment plan application by providing essential information. To assist you in navigating this process, this guide explains the...
Copyright by Accu-Tax, Inc. All Rights Reserved.
Copyright by Accu-Tax, Inc. All Rights Reserved.
