Realizing that you don’t have the money to pay the Internal Revenue Service (IRS) what you owe in full and on time can be frightening – especially if it’s never happened to you before. The IRS has a process for taxpayers in this position. Understanding what it is and...
Month: November 2021
Why would anyone admit to the IRS that they hid foreign assets?
Voluntary disclosure means intentionally acknowledging that you broke the rules. In the financial world, voluntary disclosure often refers to an Internal Revenue Service (IRS) program aimed at those with valuable foreign assets. Essentially, the IRS has asked those...
Should you file IRS taxes as single or married?
As a married couple, how to file your taxes is one of many decisions you have to make together. Only this time, there is no option to say, fine, you do your thing, and I’ll do mine. You both need to file in the same way. If the IRS considers you as married, then you...
4 of the biggest mistakes payroll bookkeepers make
When you hire a bookkeeper to take care of your payroll, you expect them to do the job properly. Unfortunately, even professionals can make payroll mistakes that have significant consequences. Payroll mistakes can be significant, as they might run afoul of tax law or...