Once clients get back into compliance, the next goal is staying there. After years of stress and uncertainty, keeping filings current requires understanding your responsibilities and what the IRS expects going forward, including staying aligned with the IRS compliance timeline. After your missing years are filed, the IRS updates your account. From there you can […]
In the news
Kwong v. United States: Can You Get an IRS Refund for COVID-19 Penalties?
The federal case Kwong v. United States has been seen as one of the most impactful tax rulings tied to the COVID-19 pandemic for individuals, businesses, and non-profits. Decided by the U.S. Court of Federal Claims, this tax case addresses whether taxpayers may be entitled to obtain refunds for penalties and interest that were assessed […]
What If You Miss an Installment Agreement Payment?
TL;DR Setting up an installment agreement with the IRS is one of the quickest, most effective ways to stay in good standing and get your balance paid off over time. However, sometimes, you might miss a payment and fear your agreement will be canceled or the IRS will come after you. If you’ve missed a […]
IRS Tax Resolution Services: Helping with Federal Tax Problems
TL;DR Are you dealing with tax issues that are causing you sleepless nights? Do you feel overwhelmed by the complexity of your tax situation? It may be time to consider finding tax resolution solutions with the help of a qualified tax resolution attorney. In this article, we will take a closer look at tax resolution […]
Owe Back Taxes? Everything You Need to Know
TL;DR Back taxes can result from insufficient withholding, IRS audits, or failing to file returns, often leading to penalties and interest The IRS offers resolution options like installment agreements and Offers in Compromise to reduce or manage tax debt You may also qualify for currently not collectible status if you cannot afford payments If ignored, […]
What Happens If You Owe the IRS More Than 25,000 Dollars?
What happens if you owe the IRS more than 25,000 dollars? Owing more than 25,000 dollars often triggers additional IRS scrutiny. In some cases, it also leads to the filing of a federal tax lien. At Paladini Law, we help clients understand what liens mean, how long they last, and how to work toward resolution. […]
What If I Think My Taxes Are Wrong?
Many clients ask, “What if I think my taxes are wrong?” Clients often come to Paladini Law because something does not look right. Maybe you missed income, forgot deductions, or received a notice from the IRS saying your return is incorrect. When that happens, you need to know how to correct the problem properly. If […]
I’m Afraid That I’ll Lose My Wages or Assets if I File and Can’t Pay, Should I Still File?
Many clients ask, “I’m afraid that I’ll lose my wages or assets if I file and can’t pay, should I still file?” The truth is, filing doesn’t automatically put your money or property at risk. At Paladini Law, we help clients understand what really happens once you file and how to avoid aggressive IRS action. […]
What to Do When the IRS Files a Tax Lien?
Are you having trouble getting on top of your tax debt? You’re not alone, millions of Americans deal with tax problems every year. But if you fail to address the taxes you owe, IRS actions will escalate beyond penalties and interest charges. The agency could decide to file a federal tax lien against you, meaning […]
IRS CP2000 Notice: What It Is, Why You Got It, and How to Respond
TL;DR What Is a CP2000 Notice (and Why Did You Get One)? A CP2000 notice is an official letter from the IRS informing you of a discrepancy between the income reported on your tax return and what third parties (like employers, banks, or clients) reported to the IRS. In plain terms, it means the IRS […]
How Far Back Can the IRS Go for Unfiled Tax Returns?
Having unfiled tax returns is a pretty common problem. Taxpayers may unknowingly miss a deadline or not file because they’re worried that they won’t be able to afford what they owe in taxes. Or, they may not file due to being overwhelmed with paperwork or busy with their business. Whatever the reason, if you don’t […]
Best Company for Tax Relief: Understanding Real and Fake Tax Relief Programs to Avoid Scams
TL;DR Federal and state tax codes are so complicated that tax problems are abundant. Unfortunately, finding help isn’t always easy. There are a lot of companies that engage in aggressive and often misleading marketing to bring in clients. Sometimes, scam artists even pretend to be tax relief companies so they can trick you out of […]
If I Haven’t Filed in Over 10 Years, Do I Need to File All the Returns?
At Paladini Law, many clients come to us after years of not filing. Some stopped five years ago, others ten or fifteen. The longer the gap, the more overwhelming it feels. If you are wondering, “if I haven’t filed in over 10 years, do I need to file all the returns?” the good news is […]
New Jersey Tax Problems and Solutions
No one looks forward to the tax season; it brings so much stress and anxiety. While some people can breathe after the filing season, many taxpayers end up with tax issues that extend through the entire financial year, and often, it’s harder to solve state tax problems than federal ones. If you are struggling to […]
New Jersey Tax Liens and Judgments: What You Need to Know
The NJ Division of Taxation can issue a Certificate of Debt when you’re behind on your tax obligations. This can lead to seizure of funds in your bank account and blocking the sale or refinancing of your home. If you miss the state’s notices, you may not know you have a tax lien or judgment […]
Personal Liability for IRS Business Tax Debt?
What Happens to Payroll Tax Debt When a Business Closes? Closing a business does not automatically wipe out its payroll tax debts. The IRS will still expect those taxes to be paid, and it has tools to hold individuals personally responsible for the unpaid amounts. Payroll taxes (employment taxes withheld from employee wages) are considered […]
United States Tax Court: A Strategic Guide for Taxpayers and Business Owners
Introduction The United States Tax Court exists to give taxpayers and business owners a fair forum to challenge IRS determinations. Unlike most courts, it allows you to dispute a tax deficiency before paying. That unique feature makes it critical for those facing large assessments, audits, or IRS collection efforts. This article explains how the Tax […]
When Do I Need to Hire a Tax Attorney?
Tax issues can be extremely costly, with outstanding tax debt and building interest and penalties. In many cases, the last thing you want to think about is spending more money to hire someone to assist you, but some situations warrant working with a professional. A tax attorney can help you understand tax laws, your options […]
Tax Court Takeaways: Even Tyga Needs To Make Estimated Tax Payments to Get an Installment Agreement
Background Michael R. Stevenson, aka Tyga, recently sought review in Tax Court of an Intent to Levy Notice issued by the IRS. Tyga timely filed his 2019 federal income tax return but failed to pay the reported liability of $2,166,469. In an effort to collect this liability, the IRS issued a notice of intent to […]
Understanding ERTC Audits and How to Prepare for Them
The Employee Retention Tax Credit (ERTC) is a federal program aimed at helping eligible businesses keep their employees on payroll during the COVID-19 pandemic. While the program has been immensely helpful for many organizations, it has also drawn the attention of the IRS. Unfortunately, many less-than-ethical companies sprung up overnight to take advantage of ERC […]
