Entries by S.H. Block Tax Services

Is Debt Forgiveness Taxable?

Most people struggle at one time or another to their pay bills. Often, the payments fall further and further behind, and climbing out from the debt cycle feels hopeless. If you’re in this situation, you may have asked the bank, credit card company, or another creditor to write off or forgive your debt — usually […]

A Quick Guide to the IRS’ Fresh Start Program

If you’ve heard about the IRS’ Fresh Start program for tax debt relief, you may be wondering whether you qualify and what options are available to you. Fresh Start is a helpful initiative that makes it easier for some taxpayers to pay their back taxes and avoid bad consequences like liens, levies, and wage garnishments. […]

Have Tax Issues? Know Your Taxpayer Rights

When you’re dealing with an IRS audit or threatening letters and collections based on outstanding tax liability, it’s easy to feel powerless. What can you do when a federal agency has it out for you? One of the great things about living in the United States is that our government recognizes that people have certain […]

Is It Worth It to Create a Single-Member LLC?

Working for yourself is both rewarding and challenging. You’re in complete control of your business, but it can also be tough to get others to recognize you as a real business. For some people, a limited liability company (LLC) provides a solution. An LLC can offer a bridge between operating as a sole proprietorship and […]

Your Family Business Tax Questions, Answered

Did you know that family businesses create 78 percent of new U.S. jobs and employ 60 percent of our national workforce? Family businesses are an essential part of our economy, and a family business can be a special thing — in more ways than one. When it comes to taxes, family businesses have some unique […]