In Memory: Stanley H. Block (1932-2025). His legacy and guidance will continue through our service to clients.
The IRS has recently made updates to its Innocent Spouse rules. Now more taxpayers will be considered to receive Innocent Spouse Relief from their joint tax returns. When a married couple files a joint tax return they are both responsible for all taxes. In some instances one of the partners misrepresents their tax situation. This […]
All businesses need to keep records. To be successful, you need to have a business plan or model, appropriate business type, appropriate accounting method, a good bookkeeper, and the ability to use all this information to your advantage. Part of this process includes the retention of receipts. Recordkeeping Is Essential to Your Business
Transcripts are like your secret file with the IRS. They show us what the IRS knows about you. There are three basic steps to IRS Resolution. The first is Power of Attorney & Investigation. The second is preparing all necessary returns. The third step is Resolution. Transcripts play a very important part in the first […]
The horrible epidemic of identity theft is running rampant in the US. Experienced hackers make their way into a database and quickly steal your information. Everyone from small doctor’s offices to large corporations like Target and Home Depot have been hacked. Well, these “hackers” have made headlines again. This time, they broke into the IRS’ […]
In our office we have become accustomed to the long hold times at the IRS. It is no surprise when a taxpayer walks in and wants to know, why they have to wait two hours on the phone. We are not shocked when refunds and processing are late. Why? Because it has become the norm […]
If I haven’t filed in years and the IRS did nothing, I’m flying under the radar! The worst thing you can do is assume the IRS is clueless about your non filing status and your income. There is a complete history sent from employers, mortgage companies, and other financial institutions. The IRS knows way more […]
An offer in compromise is an agreement between a taxpayer and the IRS. The agreement settles the taxpayer’s liabilities for less than the full amount owed. An OIC is generally not accepted if the IRS believes the debt can be paid in full or in instalments. The IRS will look at your income and assets […]
Occasionally clients will come into my office. They have tried by themselves or the help of someone else to set up payment arrangements. Sometimes they have their family attorney try and set up an installment agreement only to get denied. Other times they try to file their own OIC or Offer in Compromise. I cannot […]
Maryland Get Ready for Tax Amnesty! The amnesty application (AM-15) is scheduled to be available on August 28th. Applications will start being accepted on September 1st. The Tax Amnesty Program applies to:
In the past two years I have noticed an increase in calls from taxpayers frightened by the IRS. They receive a threatening phone call where the “IRS” advises them they have missed previous notices and this is their last chance to pay before being hauled away to prison. Yelling, Screaming, and threatening is not how […]
