November - 2021

Nov 24, 2021

What Does The Newly Signed Infrastructure Bill Mean For You And Your Cryptocurrency?

Recently, President Biden signed the $1.2 Trillion Infrastructure Bill into law, which will invest in America's infrastructure. You might be thinking, "What does the Infrastructure Bill mean for my crypto?" The Infrastructure Bill does not contain much that affects taxes, but it does have a cryptocurrency provision if you are one of the millions who have jumped into the crypto investing craze. The New Crypto Provision The measure will not affect your taxes in 2021, and it wil

Nov 18, 2021

Is The IRS Fresh Start Program Just Another Tax Scam?

We get it. Tax season is just right around the corner and you just want to be as fully prepared as possible in all things tax-related. As a mainstream topic due to the recent COVID-19 pandemic, the IRS Fresh Start Program is being recognized as a way out of your difficult tax debt issues, but its popularity has also raised some eyebrows among new tax relief seekers and questioned whether or not it's just another scam. Long story short, the Fresh Start Program is as legit as t

Nov 16, 2021

Another End-of-Year 2021 Tax Tips & Tricks to Boost Your Refund

Just when you thought you couldn't save more this year on your tax returns, we're obligated to give you even more tax tips and trips to help boost your refund! It's hard to realize we're nearing the end of the year! With the year 2021 drawing to a close, now is a wonderful opportunity to make some simple and smart tax moves to assist reduce your tax payment and maximizing your tax refund when you file. Adjust Your W-4 Withholding Allowance If you did not receive the tax resul

Nov 15, 2021

Does The IRS Fresh Start Program Actually Eliminate Tax Debt?

Taxpayers who are unable to pay their tax debts to the Internal Revenue Service (IRS) face a tough situation. With tax debt, it is more difficult to get and retain a job, as well as to receive affordable financing of any type. As a mainstream topic due to the recent COVID-19 pandemic, the IRS Fresh Start Program is being recognized as a way out of your difficult tax debt issues. Today we ponder the question, does the IRS Fresh Start Program actually eliminate tax debt? What I

Nov 12, 2021

End-of-Year 2021 Tax Tips & Tricks to Boost Your Refund

It's hard to realize we're nearing the end of the year! With the year 2021 drawing to a close, now is a wonderful opportunity to make some simple and smart tax moves to assist reduce your tax payment and maximize your tax refund when you file. Don't Take Your Bonuses... Yet If your hard work paid off and you're expecting a year-end bonus, this extra cash might push you into a higher tax band, increasing your tax liability. If your bonus pushes you into a higher tax band, you

Nov 10, 2021

What To Expect From The Last 2 Child Tax Credit Payment

As a parent, it's important to know the details of advance child tax credit payments. The IRS provides help in understanding these types of payments and how to be eligible. On July 15, about 60 million children's families got the first installment of the increased Child Tax Credit payments. We're here to dispel some of the most common conceptions about these payments. Opting You must report the amount of monthly child tax credit payments you received in 2021 when you file you

Nov 8, 2021

Having Babies For Tax Purposes

When kids are cooped up in the house during summer or winter vacation, or when attending virtual classes at home, they can be overwhelming, but they are also wonderful tax-savers when it comes time to pay your taxes. Even though the dependency exemption was removed as part of tax reform, there are still certain tax benefits available to you if you have children or other dependents. Child Tax Credit You could be qualified for the Child Tax Credit, which is a tax credit for you

Nov 3, 2021

What Does The IRS Say About Their Fresh Start Tax Relief Program?

Can't Pay Off your back Taxes? If that's the case, the IRS Fresh Start program for companies and individuals may be of assistance. Fresh Start was established by the IRS in 2011 to assist struggling taxpayers. The IRS has now extended the program by adopting more flexible Offer-in-Compromise parameters in order to assist a larger number of taxpayers. This extension will allow some of the most financially challenged people to resolve their tax issues more swiftly than previous

Nov 2, 2021

Not Paying Your 2021 Business Taxes

Don't forget to pay your business taxes! Business taxes are a necessary expense for any company, but what happens when you don't pay them? As a disclaimer, it's not pretty. The IRS isn't very forgiving if you fail to comply in regards to paying off your taxes. Notices One of the very first things you will notice from the IRS is that they will reach out to you through letter notices. If you do not respond to the letters, then they will start sending out a series of notices. D

Nov 1, 2021

IRS Notice? Here Is What You Need To Do

Did you just receive an IRS Notice? If so, you may be wondering what to do. You are not alone! The IRS sends out millions of notices each year and the volume is only increasing. With this in mind, it can feel beyond overwhelming when your notice arrives in the mail. Your Notice Read your notice carefully and identify what the subject matter is. More likely than not, the notice may contain the following information within your notice: You are entitled to a greater or smaller r

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