The IRS, part of the United States Treasury Department, is one of the most feared and loathed government agencies. Charged with collecting tax revenues for the United States, the Internal Revenue Service is the US Government’s in-house collection authority. Your Federal taxes and tax forms are sent to the IRS. Even many fees owed to specific departments of the Federal Government will throw through the IRS, as it is the revenue service for the United States, not just the tax collection agency.

IRS Woman

Almost all United States citizens and residents are required to comply with the regulations and reporting requirements of the Internal Revenue Service, reporting income and certain assets on an annual basis. If you have foreign investments, you have additional reporting requirements to avoid onerous penalties and interest.

We help clients with common and uncommon IRS matters. We help them file the appropriate business returns, the 1120, 1120S, or 1065, as well as their personal 1040 tax returns. By staying in compliance, the IRS will generally ignore you, and allow you to pursue your personal and financial affairs without too much involvement with this powerful and fearful government agency.

If you have a business, be certain to make your tax filings in a timely manner. Business owners and some high income wage earners may need to file quarterly estimated taxes. By engaging in regular tax planning and tax compliance, you can avoid complications and penalties that come from non-compliance, while arranging your affairs in a way most advantageous to you and building and preserving your wealth.

Foreign Tax Issues for US Citizens Video

By |2021-06-11T14:15:00-04:00June 11th, 2021|Categories: #FinanceFriday|Tags: , , , , , , , , |

Today on Finance Friday, we discuss foreign tax issues for US citizens with Andre Benayoun JD, BBA. Andre is one of the most brilliant people I know; he is a partner at Marcum Accountants & Advisors and a family friend.

1099-NEC Forms – How to

By |2021-05-05T21:03:43-04:00May 4th, 2021|Categories: |Tags: , |

This video will walk you through the 2020 filing season, so in 2021 new, the 1099 NEC, 1099 Non-Employee Compensation. This form replaced 1099 Miscellaneous, or Misc. So if you have contractors, subcontractors, independent contractors, whatever you want to call them, people who are not employees, not on regular payroll, you're going to need to fill out this form to report what you paid them if it was over $600. So I figured the best thing would be to go ahead and let's walk through it together.

Stimulus Check FAQs

By |2021-04-05T13:00:46-04:00March 31st, 2021|Categories: Quickies with Bette|Tags: , , , |

Stimulus checks can be a source of relief and stress. If you fall into the ladder position, I'm here for you. Hi, I'm Bette Hochberger, CPA CGMA, and I want to thank you all for reaching out to me with questions regarding your stimulus checks. I'm flattered at how many people reached out to us, but it's too many for me to call you each back, so I wanted to get you an answer as soon as possible. These are the main questions we've been receiving.

Stimulus Payments: How To Find Them

By |2021-05-12T23:30:19-04:00March 3rd, 2021|Categories: #TaxTipTuesday|Tags: , , , |

Today I'll teach You How To Find Your Economic Impact Payments, better known as the IRS's stimulus payments, and how to check whether or not you received these payments. You can stop freaking out now; I've got your back.

Stimulus Check Was Never Received?

By |2021-05-03T22:02:02-04:00February 25th, 2021|Categories: Quickies with Bette|Tags: , , , , , , |

If you're one of the unfortunate souls who were qualified for a stimulus check but did not receive one or received less than you should've; worry no more! When you file your taxes this year, there will be a section just for you called the recovery rebate credit.

#TaxTipTuesday – IRS Delays 2020 Tax Season

By |2021-05-12T23:30:31-04:00January 25th, 2021|Categories: #TaxTipTuesday|Tags: , , , , |

Welcome to Tax Tip Tuesday. Today for your tax tip, we're going to discuss the recent announcement by the IRS to delay the opening of the 2020 tax filing season to February 12th, and what that means for you.

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