FAQ 10: Bankruptcy

FAQ 10: Bankruptcy

Q: Can I discharge my tax debt through bankruptcy? A: Generally speaking, individuals can discharge their income tax debt if the following four requirements are met: Three years have passed since the tax return was due, Two years have passed...
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FAQ 9: Worker Classification

FAQ 9: Worker Classification

Q: I am a small business owner. How do I know whether to classify my workers as employees or independent contractors? A: Employers are required to withhold and pay Social Security and Medicare taxes for employees, as well as pay...
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FAQ 8: Innocent Spouse Relief

FAQ 8: Innocent Spouse Relief

Q: My ex-husband owns a small business. During our marriage, we jointly filed our tax returns that reported the income of my ex-husband’s business. I was not involved with my ex-husband’s business or the tax return preparation. I just signed...
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FAQ 7: Tax Audit Examination

FAQ 7: Tax Audit Examination

Q: I recently received a letter from the IRS that said my tax return was selected for an audit examination. How can I make this process less painful? A: The IRS typically selects tax returns for examination based upon red...
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FAQ 6: Trust Fund Recovery Penalty

FAQ 6: Trust Fund Recovery Penalty

Q: I am a small business owner and I have several employees. The IRS determined that I was a responsible party who willfully failed to pay my company’s trust fund (employment) taxes. As a result, the IRS assessed my company...
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FAQ 5: Tax Levy Relief

FAQ 5: Tax Levy Relief

Q: The IRS has garnished my wages and seized money from my bank account. How do I get the IRS to stop? A: The IRS is legally required to send written notification to a taxpayer before initiating a tax levy...
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