Especially this year, many taxpayers are facing challenges paying their tax bills. If the pandemic has affected your ability to pay, the IRS has your back, according to a recent announcement. At least, the agency is making it easier to settle up. Taxpayers have always...
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Month: October 2020
Bankruptcy or debt cancellation? There are tax consequences
This year, a lot of people are facing financial troubles. The good news is some lenders have been willing to work with debtors to relieve some of their debts. Unfortunately, that could result in a taxable event. Generally, debt that is freely forgiven, such as through...
What are the odds of being audited by the IRS?
The odds of getting a notification from the Internal Revenue Service (IRS) of a federal tax audit are fairly low. Recent projections estimate most individual tax filers are at about a 0.4% risk. However, certain things can increase this risk. In some cases, the...
What can trigger an audit for your home-based business?
When you run your own business from home, you face handling a multitude of responsibilities to make your business successful. One of those is reporting your yearly business expenses and income and ensuring you shield yourself from a potential audit. However, if you...
I have receipts, so I should survive my tax audit — right?
Opening up that letter from the Internal Revenue Service (IRS) can make your heart skip a beat. The federal agency has contacted you to let you know that you are the subject of a tax audit. At first you are concerned. You worry that you may have made a mistake. But...
A tax attorney can be invaluable to your business
Few business owners can do everything on their own. Seeking occasional advice from a tax attorney can help businesses continue to grow and succeed. Tax law is complicated. Having a professional guide who can help you navigate these legal waters is essential. A tax...
Proposal provides tax incentives to New York small businesses
New York City comptroller Scott Stringer earlier this month introduced a series of proposals that include tax incentives geared toward helping struggling small businesses affected by the recent global health crisis. The proposals, initiated on Aug. 5, must be agreed...
A tax audit could come in different forms
Even though the tax season has officially come to a close (finally), some New York residents may still worry about how the IRS will handle their tax information. In particular, they may have concerns about facing a potential audit. Even if individuals report...
Man faces tax-related charges for not reporting foreign income
Accusations of criminal activity can send a person reeling. His or her reputation is on the line, and that individual faces serious consequences that could result from a conviction. As a result, if someone is facing tax-related charges, it is important to have the...
Tax debt can mean you’ll be grounded
The IRS has adopted a relatively new method of forcing delinquent taxpayers to settle their debts. If you owe more than $53,000 in back taxes, you may be prohibited from renewing your passport or applying for a new passport.When will the IRS move to restrict your...
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White Plains, New York 10601
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Phone: 914-686-7171
Fax: 914-686-0168
Suite 307
White Plains, New York 10601
White Plains Law Office Map
Phone: 914-686-7171
Fax: 914-686-0168
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East Hampton, New York 11937
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Phone: 631-329-7171
Fax: 631-604-6140
Post Office Box 2888
East Hampton, New York 11937
East Hampton Law Office Map
Phone: 631-329-7171
Fax: 631-604-6140
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Chappaqua, New York 10514
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Phone: 914-238-7171
Fax: 914-206-7500
Post Office Box 488
Chappaqua, New York 10514
Chappaqua Law Office Map
Phone: 914-238-7171
Fax: 914-206-7500
