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What Is an Open Tax Year?

The IRS has open and closed tax years. What exactly does that mean, and how does it apply to you? An open tax year is a period after the deadline ...

Top 6 Benefits of an IRS Tax Settlement

A tax settlement is defined as an arrangement between you and the IRS in which a tax dispute gets resolved. The settlement usually features some comp...

How Much Does It Cost to Hire a Tax Attorney?

Though it is perfectly acceptable to represent yourself in an audit or U.S. Tax Court, the reality is that the odds are not on your side. One could e...

4 Tips to Avoid Employee Misclassification

According to the IRS, employee misclassification is a growing problem among small business owners. Employee misclassification occurs in different way...

My Tax Audit Appeal Failed—What Can I Do?

A misconception about tax audits is that anytime the IRS orders one, the taxpayer is immediately in the wrong. However, it is often the opposite. The...

How to Prepare My Small Business for an Audit

There is a fair chance you will never encounter any problems with the IRS, but that doesn’t make the thought of an audit any less intimidating. Sma...

Top 7 IRS Audit Triggers to be Aware of in 2019

There are a few common things that can reliably stress out the average person: visiting the DMV, getting summoned for jury duty, and preparing taxes....

What Is the IRS Statute of Limitations on Audits?

The term “tax audit” can put fear into the bravest of hearts. Everyone is afraid of it, and when it does happen, taxpayers are naturally inclined...

What Should I Do If I Get a Notice of Underreported Income From the IRS?

They say nothing good comes in the mail, which is especially true if you receive a notice from the IRS. If you receive a CP2000, also known as an ...

Do I Have to Pay Taxes on Cancellation of Debt?

Owing money to the IRS can be worrying, but what happens when you find out that your debt has been partially or fully forgiven? You’re in the clear...

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Do I Have to Pay Taxes on Cancellation of Debt?

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