One of the most recognizable names in the entertainment industry, Beyoncé Knowles-Carter, has found herself in hot water with the IRS. The world-famous performer and businesswoman owes approximately $2.7 million in taxes and penalties.
There are millions of taxpayers who owe back taxes to the IRS. Some taxpayers end up owing over $10K in back taxes and might even have unfiled tax returns. If that is your case, then you have some options.
Many people make common mistakes that can cost them time, money, and possibly even legal trouble. Learn about the top five tax mistakes to avoid in 2023, so you can file your taxes with confidence and avoid any unnecessary headaches.
The IRS has postponed the 1099 reporting requirement for cash app companies, such as Venmo and PayPal, until the 2023 tax period.
Whether you have a steady independent contractor position or several side gigs, the IRS considers you as "self-employed," which means you are required to file a business Schedule C within your personal tax return.
With 2023 around the corner, we’re excited to celebrate the 15 year anniversary of Direct Tax Relief. Our Tax Resolution Specialists have solved thousands of cases and resolved tens of millions of dollars in tax debt.
Since 2014, Jay Soni has been an Enrolled Agent at Direct Tax Relief. As a federally licensed tax practitioner, he represents taxpayers with the IRS and various state tax agencies. He’s an expert involving issues related to collections, audits, and tax appeals.
On August 16, President Biden signed the Inflation Reduction Act of 2022 into law. This comprehensive bill targets making health care and prescription drugs more affordable, fighting climate change, taxing wealthy corporations, and more funding for the IRS. Although the President has signed this bill, some savings in the bill won’t kick in right away. For example, efforts to lower drug prices, including caps on their costs for seniors, won’t take effect until 2025.
