Fresh Start Program Can Get You Right With The IRS Thousands of American today live in deep anxiety because they owe money to the IRS and can’t pay. Others have gotten behind on filing tax returns for several years but are afraid to get caught up. Some know they are in arrears with taxes, but they just pray... continue reading →
Now that your “baby” is all grown up, graduated from high school, and packing up to leave for the first semester at college, how does your tax household look like? Do you continue to claim him or her as your dependent? Or does your college student child file their own tax return as a single person? The following article... continue reading →
Debt cancellation in Box 2 of Form 1099-C automatically becomes Taxable Income on Line 21 of Form 1040. However, you can file Form 982, and you may not have to pay taxes. This form became popular for us during the recession. It eliminated the otherwise taxable amount for cancellation of debt. Unfortunately, we still see lots of cancelled debt in 2016. That’s... continue reading →
Ever the specter of governments presence looms over the hapless head of those who find themselves owing back taxes. Worse still, is the plight of the innumerable Americans who also face penalties and interest. In a time of fear and uncertainty, Business and Financial Solutions, has risen up in popularity and notoriety as a reliable firm in the Vienna,... continue reading →
If you think you need help with IRS lien or levy, there are a few things you should know. For the average layman, all tax burdens may sound the same: debt, lien, and levy— whatever! It’s all a mush of bad news that Uncle Sam isn’t satisfied. The IRS wants there fair share, regardless as to where you are... continue reading →
Are you being audited by the IRS or perhaps you’re simply in a situation where you fear an audit is possible or likely? If you’re facing an IRS audit, you know the situation is potentially very serious. The best treatment, as always, is prevention. Get help from a tax expert. There are certain measures that can be helpful with... continue reading →
No one likes owing the government money, whether it’s IRS debt or both state and federal debt. Having your wages garnished can be even worse. Rather than sit on their debt and hope for the best, many have opted for an installment plan as a resolution to this burden. You may be skeptical, but a payment plan for IRS tax... continue reading →
Are you worried about back taxes? Do you owe the IRS a significant amount of money? Anyone who finds themselves in a situation where they owe back taxes to the IRS has their own unique story. Dealing with tax debt and knowing that the IRS is out for your hard-earned money is stressful. What you need is a good... continue reading →
What are your chances of being audited by the IRS? Business Financial Solutions can help you stay off the target list by the IRS. However, if you an at risk group being audited by the IRS alreay, we provide effective representation. We also prepare accurate tax returns to help avoid the target list. And we assist non-filers with getting... continue reading →
Our CPA firm performs a variety of audit services. They include year-end, forensic, internal, and fraud audits. We also perform annual audits for a variety of industries. This time of the year, many businesses, non-profits, and associations look to Business & Financial Solutions with assistance. And we help them with annual and fiscal year-end audits. These services are often... continue reading →
