Each year, individuals in the United States who hold foreign financial accounts are required to file a Report of Foreign Bank and Financial Accounts (FBAR). A failure to file when required to do so can lead to serious penalties. This may include substantial monetary fines as well as possible criminal charges. FBAR penalties are among […]
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Offer in Compromise Pre-Qualifier Tool
Tax problems can happen to almost anyone. Perhaps you got behind on your estimated payments as a self-employed individual, or you withheld too little from your paycheck, and now owe thousands of dollars to the IRS. Whatever the case may be, if you are having trouble paying off your tax debt, you may be able […]
IRS Notice LT-11
There are few things that are more intimidating than getting a letter from the IRS. When you see that envelope, you may be worried about an impending audit or that something is wrong with your taxes. If you owe back taxes, then the letter that you receive may be a notice that your property will […]
Statute of Limitations for New Jersey Tax Audits
The IRS isn’t the only government entity that audits your tax return. The New Jersey Division of Taxation could opt to audit your state return, and the process can be equally stressful and complicated. The statute of limitations for a state tax audit is four years instead of the three years that the IRS typically […]
Paycheck Protection Program
Paycheck Protection Program If your business is in immediate need of cash, the federal government has rolled out several different programs to assist businesses, one of which is the Paycheck Protection Program. The Paycheck Protection Program (“PPP”) is a federally guaranteed loan to businesses to pay their payroll and certain other operating expenses. PPP has […]
