The Internal Revenue Service today upgraded a key online tool to enable families to quickly and easily update their bank account information so they can receive their monthly Child Tax Credit payment. Read more about it on the IRS News Release page.
Need help with issues you are having with the IRS? Balance due, Lien, Levy, etc. I can help.
Call or email today: 712-274-6469 or Info@BabitzkeEA.com.
Take action today to have peace of mind tomorrow!
Well I did it. Taking a leap that the business is going to do much better.
Signed up for a new website host to bring the site more in line with business standards. The tax resolution industry and accounting/financial services as a whole keeps changing.
Since I am a virtual business a presence online is a must. Hope you will like what you see. Trying to keep things simple.
In January a new law became effective that may have an impact on starting a new corporation or LLC. Although this probably won’t affect my clients, I thought it would be good to get it out there.
From The Law Review: On January 1, 2021, Congress passed the National Defense Authorization Act for Fiscal Year 2021, which includes the Corporate Transparency Act (the CTA). The CTA requires all U.S. businesses to file “beneficial ownership” information with the Financial Crimes Enforcement Network (FinCEN). In sum, the CTA is designed to ban the anonymous shell companies that criminals and certain foreign officials use to hide and move corrupt proceeds and other illicit financing.
Check our these other articles:
National Law Review Article on the new law.
HR 2513 from Congress
The one below is lengthy from the American Bar Association, Business Law Today:
Need help with issues you are having with the IRS? Balance due, Lien, Levy, etc. I can help.
Call or email today: 712-274-6469 or babitzke.associates@gmail.com.
Take action today to have peace of mind tomorrow!
I have seen a lot of posts asking questions like can I deduct my phone, groceries, room I live in (parents house), car, clothes, etc. I started a business and a friend said ….. (you fill in the blank). I read online about a guy that deducts his house, Maserati, etc in full as a business expenses.
Read MoreReceived a call Friday just after finishing the refund post. One thing I can not help with is speeding up a refund.
I mean most cases the fees I would charge to call the Taxpayer Advocate Office (TAO) on your behalf would be higher than you’d be willing to pay.
I would need a Form 2848, Power of Attorney, a letter of engagement, and payment of services. Roughly it averages $500.00 to just get started. I would pull a transcript of your tax account and the tax return transcript. Then, based on that, I would call you back to discuss what they show. If you decide to proceed, a brief discussion of the categories the Advocate can help taxpayers and lay out a plan.
It is at this point you would more that likely say something like, you want how much? The fee would be in the neighborhood of $1,500. After all I will have to keep contacting them for updates and make sure things don’t fall through the cracks.
The caller decided they would try on their own. Anyway, I will try.