Is Debt Canceled Through an OIC Taxable?
Oct 5, 2024When taxpayers struggle with large amounts of tax debt, an Offer in Compromise (OIC) can offer a much-needed lifeline. This...
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What is IRS Letter 3219N?
Oct 4, 2024The IRS uses a variety of letters to communicate with taxpayers about their tax obligations. One such letter is IRS...
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Tax Checklist for Starting a Business
Oct 1, 2024Starting a business can be an exciting yet challenging endeavor. While the focus is often on building a product or...
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What is a Cafeteria Plan?
Sep 28, 2024A cafeteria plan, also known as a Section 125 plan, is an employee benefit program that allows workers to choose...
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Can I Buy a House if I Owe Back Taxes?
Sep 27, 2024Buying a house is an exciting milestone in life, representing stability, investment, and the fulfillment of a dream. However, for...
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How are Partnerships Taxed? | Optima Tax Relief
Sep 25, 2024Partnerships are a popular business structure for entrepreneurs looking to combine resources, expertise, and share profits. However, the taxation of...
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How Worker Classification Affects Taxes
Sep 24, 2024Understanding worker classification is crucial for both employers and workers, as it directly affects tax obligations and benefits. The way...
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What is the Gift Tax Exclusion?
Sep 21, 2024When it comes to transferring wealth, the gift tax exclusion is a valuable tool for individuals looking to pass on...
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What is an Enrolled Agent?
Sep 20, 2024We often hear that the tax professionals qualified to represent you before the IRS are CPAs, tax attorneys, and enrolled...
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What To Do If You Receive IRS Notice CP71C
Sep 19, 2024Receiving a notice from the IRS can be unsettling, and if you’ve received IRS Notice CP71C, it’s important to understand...
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