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.
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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.
There are several Redit posts from people that filed in February and still have not received their refunds or stimulus payments. Some of these “forums” are r/tax, r/taxhelp, and r/IRS. There are others forums and what used to be called message boards with the same type of comments.
Waiting for a refund or their stimulus payments has become a huge issue. Some of the problem seems to have been cause by some of the free file software putting amounts in the wrong place or putting an amount in that should not have been. A lot of the problem was because Congress passed last minute laws that change tax rules and other stuff.
At this point if you are still waiting and you can’t get through to someone, contact the Taxpayer Advocate Service at 877-777-4778.
Generally, they help taxpayers whose tax issues fall into one of these main categories:
There is a tool to use to figure out which category.