Individual taxpayers (single, married filing jointly, married filing separate, and head-of-household filing status) may encounter various IRS and state tax problems due to a range of factors that lead to unintended tax consequences and financial burdens.
Here are some common issues faced by individual taxpayers that we help with: failing to file tax returns or pay taxes owed, inaccurate reporting of income, errors in selecting appropriate status, discrepancies between reported income on tax returns and information provided by third parties, late or nonpayment of estimated taxes, noncompliance with the individual mandate or failure to report health insurance coverage, insufficient documentation of income, expenses, and deductions, lack of awareness about estate tax rules, ignoring letters or notices from the IRS or the state taxing agencies, etc.
However, the ultimate consequences of the tax problems with the IRS or State are: triggered audit, demand notice to pay tax due, collection actions, bank levy, wage garnishment, lien, seizure, travel passport restriction, vocational and professional license revocation, driver's license revocation, criminal investigation, etc.
If you're facing an any tax problem or overwhelmed with your tax debt or other tax-related issues, we can help! Our team has extensive experience representing individual taxpayers before the IRS and can help you navigate the process with confidence.
Call now and talk directly to the tax resolution specialist at 818.524.9279 about your tax situation. We also represent taxpayers before the State of California Tax Agencies. (How We Help).
We represent high income earners with complex tax reporting experiencing tax problem with the IRS. High-income earners often face unique challenges when it comes to taxes, and they may encounter various IRS tax problems.
Some common issues include: audit risk, failing to report multiple income streams, engaging in aggressive tax planning or tax evasion schemes, incorrectly claiming deductions can trigger IRS audits, under-reported incomes, unreported capital gain, undisclosed foreign bank accounts etc.
We help high income earners with challenging tax situations with the IRS and California state taxing agencies. (How We Help).
Call and talk directly to a tax resolution specialist. 818.524.9279.
We represent, support and advocate for small business owners before the IRS and the state taxing agencies in typical tax compliance exposures. Small business owners may encounter various IRS or state tax problems due to the complexities of tax regulations and the unique challenges of running a business.
We have performed numerous tax representation and resolution engagements helping small business owners facing tax problems or tax debt triggered by the following: inaccurate or incomplete financial records can led to errors in tax reporting, incorrectly classifying workers as independent contractors instead of employees (or vice versa) led to payroll tax issues, failing to file payroll tax returns or submitting them late resulting in penalties, failure to make estimated tax payments, underpayment of employment taxes, improperly claiming deductions or inflating business expenses, failure to comply with health care requirements, noncompliance with various tax laws, including sales tax and income tax, incorrectly reporting depreciation or failing to account for business assets properly, Ignoring IRS or state tax notices or correspondence, etc.
With us, you do what you do best while we deal with the IRS or state tax board to resolve any tax matters. Call now! 818.524.9279
Retail businesses, like any other type of business, can face various tax challenges in the area of compliance reporting and remittance of trust funds to jurisdictional tax agencies.
We represent retail businesses and owners on sales and use tax related matters, misclassifying employees as independent contractors or vice versa leading to payroll tax issues and non-compliance with the tax laws of each jurisdiction in which they operate
Note, compliance with state and local sales tax regulations can be complex, especially if the business operates in multiple jurisdictions with different tax rates and rules. Retail businesses are typically required to collect and remit sales tax on their sales transactions.
We can help resolve any compliance and collection matters. Our tax resolution specialist waiting to assist you. Call: 818.524.9279
Restaurant owners encounter specific tax challenges due to the nature of the hospitality industry. Due to high probability of dealing in cash transactions and problem with reporting and remittance requirement, restaurants are highly audited or under the scrutiny of the taxing agencies.
Here are some common IRS tax problems faced by restaurant owners that we have helped resolve: underreporting of cash transactions, the failure to meet payroll tax obligations, can lead to penalties, improper reporting and allocating tips among employees, not properly accounting for the cost of goods sold (COGS) and inventory, non-compliance with the rules and limitations for deducting meals and entertainment expenses, improper accounting for gratuities and service charges, non-compliance with sales tax, income tax, and other local tax obligations etc.
We do have the general and operating knowledge of the hospitality business and the susceptibility of restaurants to tax inquiry and audit.
We have history working with small-medium scale restaurants including the pop & mom owners resolve their tax problems with the IRS, CA Franchise Tax Board (FTB), California Department of Tax and Fee Administration (CDTFA) and the Employment Development Department (EDD).
Call us at 818.524.9279 to help you navigate the complexity of the IRS, FTB, CDTFA and EDD tax laws, regulations and provisions to resolve your tax matters. If you are being audited or received tax notice, talk to our specialist. We will strongly advocate for you to continue with your passionate business.
Freelancers often face unique tax challenges due to the nature of their work and the fact that they are typically self-employed and or engage in activities as 'Side Hussle' with unintended tax consequences.
We can help navigate and resolve the following common tax problems through representation before the IRS and state taxing agencies.
We will resolve any audit, dispute and collection matters triggered by: improper record keeping, non payment of estimated taxes, aggressive home office deduction, misclassification employment status, non-compliance with filing requirements etc.
Do hesitate to call and talk with the tax resolution specialist to help resolve your tax matters. Call: 818.524.9279.
We help real estate owners, investors and professionals with tax problems. Real estate investors, landlords, and brokers may encounter specific tax challenges due to the unique nature of their business activities.
We have helped real estate investors resolved tax issues such as: treatment of depreciation and capitalization on filed tax returns, claiming active participation in real estate activities, failure of comply with 1031 Exchange rules, misclassification of long term and short term capital gain, self-employment taxes, improper reporting of rental income, home office deduction etc.
We have represented real estate investors, landlords, brokers and professionals before the U.S Internal Revenue Service (IRS). Call 818.524.9279 to talk directly to a specialist to resolve your tax issues.
The financial market stock day traders face unique tax challenges due to the frequency of their trading activities and the short holding periods of their investments resulting into complex tax compliance reporting.
Our tax resolution practice helps day traders resolve dispute with the IRS and state in the areas of: tax treatment of gains and losses, trader status vs. investor status, mark-to-market accounting and tax treatments, the wash sales rules, self-employment taxes, tax Implications of Margin Trading, Tax Reporting for Options and Futures Trading record-keeping challenges etc.
Call 818.524.9279 to talk directly to a tax resolution specialist about your tax situation and represent you.
Attorneys, like individuals in other professions, may encounter various tax challenges specific to their line of work.
We have helped numerous attorneys with IRS tax problems specifically in the areas of: improper income reporting and classification leading to underreported income, improper handling of trust funds, overly aggressive business deductions, payroll taxes, misclassification of employee or independent contractor, mishandling of client expenses and reimbursement, and improper and inadequate record-keeping, commingling of fund, etc.
We have represented attorneys audited by the IRS and the California FTB and EDD in both income and payroll tax matters.
We have years of experience working with attorneys to resolving tax matters, and providing post-resolution advisory.
For more information on how we can help with your tax situation, call and talk direct to the specialist at: 818.524.9279.
We help professionals in various fields, such as doctors, lawyers, consultants, financial advisors, mortgage brokers, real estate brokers, insurance agents, accountants, book-keepers and other service providers, that are encountering specific tax challenges and matters that need to be resolved with federal or state taxing agency.
We have helped professionals in resolving income classification issues, payroll and self-employment taxes, substantiation of business expenses and deductions, home office deduction eligibility, estimated quarterly taxes, state and local taxes compliance issues etc.
Through our representation, audits were completed with no assessment, penalties and interest abated, collection actions stopped, and agreed-upon resolution option requested and accepted.
Call and talk directly to the tax resolution specialist at 818.524.9279.
Bar operators and owners, like others in the hospitality industry, face specific tax challenges due to the nature of their business.
We have represented bar owners before the California department of tax and fee administration and resolved tax issues from audit to collection.
Here are some of the typical tax problems faced by bar operators and owners that we were engaged, and resolved with favorable outcome: underreporting of cash transaction proceeds, payroll tax obligations issues, failure to adhere to federal and state alcohol tax regulations such as improper reporting and payment of excise taxes on alcoholic beverages, inaccurate accounting for the cost of goods sold (COGS) and inventory, non-compliance with sales tax, income tax, and other local tax obligations, improper depreciation and amortization of business assets, etc.
During and after resolution engagement, we provided bar operators and owners with a on-demand post-resolution advisory supports such as: maintaining accurate reporting of tips for tax purposes, understanding the rules and limitations for deducting entertainment expenses, accurate recordkeeping to respond to potential IRS inquiries and audits, etc.
We have the hospitality industry experience to help bar operators and owners navigate these tax challenges and avoiding tax problems.
Our tax resolution will help you or your bar business resolve any tax problem with anticipated favorable outcome. Call: 818.524.9279.
No doubt, tax reporting requirements by the IRS of virtual currency activities fast becoming more complex thus, cryptocurrency investors and dealers may face specific tax challenges due to the unique characteristics of digital assets and reporting of transactions.
We have provided both representation and resolution engagements to retail investors, dealer and traders in the virtual currency space.
Here are some common IRS tax problems faced by cryptocurrency investors, traders and dealers in our engagements: failure to or not reporting cryptocurrency transactions to the IRS, miscalculation of basis, gain, losses of transaction, improper reporting of taxable income of mining activities, inaccurate recordkeeping, reporting hard fork and airdrops transaction, reporting cryptocurrency held in foreign exchanges or wallets, determining and reporting the fair market value of cryptocurrency received, etc.
As virtual currency transaction is evolving so the reporting challenges and high probability for taxpayers running into compliance issues with the IRS and the state taxing agencies.
We can help resolve any tax situations with the IRS or state of California regarding inquiry or audit of your cryptocurrency transactions. Call and talk directly to the tax resolution specialist at 818.524.9279.
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