In our last post, we discussed a few of the most common tax penalties imposed by the IRS. Here we explain some ways of getting those penalties, and interest, reduced or removed entirely (otherwise known as “abatement”). It’s bad enough owing taxes, but when penalties and interest are added your bill can become a downright…
Dealing with the IRS or State taxing authorities is stressful, time-consuming, and full of traps that can quickly turn a manageable issue into a costly one. Many taxpayers attempt to handle audits, tax balances, or notices on their own, only to find themselves facing larger assessments, denied claims, or escalating penalties. Working with a qualified…
Trusted IRS and FTB Tax Attorneys Protecting California Taxpayers If you owe back taxes to the IRS, the California Franchise Tax Board (FTB), the California Department of Tax and Fee Administration (CDTFA), the Employment Development Department (EDD) and other state and local tax authorities, your finances and assets could be at immediate risk. The Los…
What Is an Offer in Compromise? An Offer in Compromise (OIC) is a formal IRS or state agency application by a taxpayer to satisfy their tax liability for less than the full amount owed. It’s designed for taxpayers who do not have the resources to pay the full tax debt or for whom full payment…
If you still have not filed your 2024 income tax returns, or can’t pay what you owe, fear not. We are only one week away from the April 15 deadline. But there is still time to file an extension and enjoy peace of mind. One caveat – we need to hear from you immediately. No…
Happy Holidays from Moskowitz LLP! Take 10% off 2023 tax preparation services if you retain Moskowitz LLP during the month of December. And if you're avoiding some unpleasant tax realities this season, rest assured: tax trouble is no joke. In this newsletter, get a spotlight on how Moskowitz LLP can help you make it manageable.…
How are the small farms in the Central Valleydealing with water, the economy, and inflation? Plus, Russian born Victor Gichun reveals what it means to have a side hustle in the US. (more…)
Learn about options for dealing with tax debt and what happens when you can’t pay your taxes. This episode focuses on individuals with tax problems. This week Steve is joined by his long-time colleague Chris Housh. Chris chairs the firm’s tax resolution and business entity compliance practice groups and is the Vice President of the…
Other Posts in this Series Part II: Negligence Part III: Substantial Misstatements It’s not enough to just file your tax returns and pay some amount to the government – the penalties for incorrect returns can be as significant as those for late filing and payment. There are quite a few accuracy-related penalties on both the…
Financial specialist Simon Brady asks a simple question; are your finances ready should you get divorced or your spouse were to die? Divorce and taxes; And what about your parents in their final days; will they, or YOU, outlive your money? (more…)
