In the IRS Tax Tip 2025-29, the IRS reminds taxpayers that there are options available to those who can’t pay in full. Pay now (or by the tax deadline) Short term payment plan – 180 days or less – Individuals: Benefits $0 set if applied online, phone, in person or mail Long term payment plan
In the IRS IR-2024-262, the IRS estimated that there is a tax gap of around $696 billion for 2022. Even if the IRS mentioned in their communication that 85% of taxpayers are compliant, the 15% remaining is broken down in the following three areas (extracted directly from IRS communications): "... Non-filing, which means tax not
If you are a small business owner with an EIN or State registration, you are probably required to file identifying information about the individuals who directly or indirectly own or control your company with the Financial Crimes Enforcement Network in order to satisfy requirements under the Corporate Transparency Act. The Beneficial Ownership Information Reporting Rule
Yesterday, Victor Garrido, CPA, EA, had a zoom call presentation about the "Beneficial Ownership Information (BOI) Report to avoid criminal and civil penalties" for the Greater Philadelphia Chamber of Commerce and his members. As we mentioned in our presentation, there are items that will keep changing regarding the Corporate Transparency Act passed in 2021. One
