A lot of our clients that come to us with back tax problems are self employed. For one reason or another, they fall behind on their taxes. With COVID-19, small businesses have been hit the hardest and despite the government stimulus bills, there are still millions of businesses teetering on the border of failure. It’s understandable that a few of them fell behind on their taxes and we’re here to help.
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Self Employed? Smart Strategies for Minimizing Your Taxable Income
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The Challenges Freelancers Face When Proving Their Income - and How to Overcome Them
Being a freelancer carries a number of important benefits, from the ability to make your own hours to the freedom to work from virtually anywhere. But being your own boss also comes with some serious challenges, including how to prove your income to a skeptical mortgage lender or reporting your income accurately when filing your taxes.
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IRS Releases 2021 Mileage Rates
Original Article Source Credits: Forbes , https://www.forbes.com/
Article Written By: Kelly Phillips Erb
Original Article Posted on: Dec 22, 2020
Link to Original Article: https://www.forbes.com/sites/kellyphillipserb/2020/12/22/irs-releases-2021-mileage-rates/?sh=48a50aa92fb0
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2 Democrats Push IRS to Extend 2021 Tax Filing Deadline to July 15
Original Article Source Credits: The Motley Fool , https://www.fool.com/
Article Written By: Eric Volkman
Original Article Posted on: Mar 8, 2021
Link to Original Article: https://www.fool.com/investing/2021/03/08/democrats-push-irs-to-immediately-extend-2021-tax/
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Stay In Touch With Ultimate Tax Relief!
Our email newsletter is a one-stop resource for relevant news and content about Ultimate Tax Relief, a tax resolution specialist in New York City.
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What Is an IRS Tax Audit?
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: Beverly Bird
Original Article Posted on: January 10, 2021
Link to Original Article: https://www.thebalance.com/overview-of-individual-taxpayer-irs-audit-4147677
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Your tax return could be flagged by the IRS. Here’s when it may happen
Original Article Source Credits: CNBC , https://www.cnbc.com/
Article Written By: Sarah O’Brien
Original Article Posted on: FEB 13 2021
Link to Original Article: https://www.cnbc.com/2021/02/13/what-to-do-if-your-tax-return-is-flagged-by-irs.html
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The Ultimate Plan to Help You Resolve Your IRS Tax Problem
At Ultimate Tax Relief, we understand that tax problems come in various forms, and resolving them can be quite challenging. As a taxpayer, receiving a dreaded notice from the Internal Revenue Service (IRS) can be viewed as stressful and intimidating. But with a little preparation and help, you can handle your tax situation quickly and easily.
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Survey: Over Half of Americans Don’t Know Their Stimulus Checks Won’t Be Taxed
Original Article Source Credits: Forbes , https://www.forbes.com/
Article Written By: Kemberley Washington
Original Article Posted on: Feb 11, 2021
Link to Original Article: https://www.forbes.com/advisor/taxes/yougov-survey-majority-americans-dont-know-stimulus-checks-wont-be-taxed/
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Some Tax Pros Want an Extension of the Tax Year
Original Article Source Credits: CPA Practice Advisor , https://www.cpapracticeadvisor.com/
Article Written By: Isaac M. O'Bannon, Managing Editor
Original Article Posted on: Feb 8th, 2021
Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21209344/will-2021-tax-deadline-be-extended-again
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Still waiting for a $600 stimulus check? Don’t panic, here’s what you need to know
Original Article Source Credits: CNBC , https://www.cnbc.com/
Article Written By: Lorie Konish
Original Article Posted on: JAN 7 2021
Link to Original Article: https://www.cnbc.com/2021/01/07/still-waiting-for-a-600-stimulus-check-heres-what-you-need-to-know.html
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6 Tips To Get A Head Start On Your 2021 Taxes
Original Article Source Credits: Forbes , https://www.forbes.com/
Article Written By: Kemberley Washington
Original Article Posted on: Jan 11, 2021
Link to Original Article: https://www.forbes.com/advisor/personal-finance/6-tips-to-file-2021-taxes/
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When Will You Get Your 2021 Income Tax Refund?
Original Article Source Credits: CPA Practice Advisor , https://www.cpapracticeadvisor.com/
Article Written By: NA
Original Article Posted on: Jan 7th, 2021
Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21205078/when-will-you-get-your-2021-income-tax-refund
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New things taxpayers should consider as they get ready to file taxes in 2021
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: December 16, 2020
Link to Original Article: https://www.irs.gov/newsroom/new-things-taxpayers-should-consider-as-they-get-ready-to-file-taxes-in-2021
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Tax Planning for Year-End 2020
Original Article Source Credits: CPA Practice Advisor , https://www.cpapracticeadvisor.com/
Article Written By: Dan Rahill
Original Article Posted on: Dec 16th, 2020
Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21202885/tax-planning-for-yearend-2020
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The Ins and Outs of IRS Audits
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: Beverly Bird
Original Article Posted on: September 01, 2020
Link to Original Article: https://www.thebalance.com/overview-of-individual-taxpayer-irs-audit-4147677
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7 Tips to Reduce Your Chances of Falling Victim to Tax Identity Theft
Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf.
According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a year.
Consumer advocates believe that since Social Security numbers are so readily available on the dark web, that a majority of Americans are at risk.
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Three Essential Steps To Prepare for Tax Season and Avoid Tax Trouble
Taxes are one of those topics people hate to talk about or even think about, especially if they end up owing money in back taxes every year. That's why many taxpayers wait until the very last moment to prepare for tax season. It’s also why nearly 14 million Americans find themselves receiving threatening letters from the IRS and in some sort of collection proceedings.
With the new Biden administration taking office in 2021, more tax changes are almost certain. COVID relief is another factor to account for, and things are changing almost daily. So it's never too early to start preparing for tax season.
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Get Ready for Taxes: Stay home and stay safe with IRS online tools
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: December 16, 2020
Link to Original Article: https://www.irs.gov/newsroom/get-ready-for-taxes-stay-home-and-stay-safe-with-irs-online-tools
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The IRS has blessed this workaround for dodging the cap on state and local taxes
Original Article Source Credits: CNBC , https://www.cnbc.com/
Article Written By: Darla Mercado
Original Article Posted on: NOV 18 2020
Link to Original Article: https://www.cnbc.com/2020/11/18/thisthe-irs-is-blessing-workaround-that-allows-business-owners-to-deduct-state-and-local-taxes.html
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