our legal blog

Understanding NY Restaurant Sales Tax Compliance

June 9, 2024 | Sales Tax Tax Audits

Restaurant Sales Tax New York State — Rules and Failed Compliance Complex tax rules govern when, how, and for which products New York restaurants and bars can collect sales tax. It is crucial that restaurant owners understand these intricate requirements and their own obligations before going into business. Mistakes can lead to heavy penalties. Learn more about sales tax on food in New York... CONTINUE READING

Dealing with IRS Form 4564: Information Document Request

June 9, 2024 | Tax Audits

What Is the IRS Information Document Request (IDR) Form 4564? If you’re going through a tax audit, you have a lot on your plate, not to mention stress about what the final outcome will be. Audits happen for a variety of reasons for both businesses and individuals, and some may seem random. The goal is for audits to get resolved as fast and as easily as possible. You’ll need to become familiar with IRS Form 4564 if you’re bei... CONTINUE READING

What If the IRS Sends a Notice of Intent to Levy?

June 9, 2024 | Tax Levy

What to Expect from an IRS Notice of Intent to Levy Meeting your tax obligations each year is hard enough. What if you start receiving notices from the IRS? This may happen if you make a mistake on your return or you can’t afford to pay your tax debt. Whatever the reason, IRS notices need to be taken seriously. If you’ve struggled to pay your taxes, you may eventually receive something called a notice of IRS levy. This noti... CONTINUE READING

IRS Notice of Deficiency and Form 5564

May 5, 2024 | Tax Debt Tax Notices

What is an IRS Notice of Deficiency? An IRS Notice of Deficiency is an official letter you receive from the IRS if the tax agency determines that you owe them more money after you’ve already filed your yearly income tax return. This claim will happen if the IRS makes a legal determination that you owe additional income tax. This notice will note the unpaid tax debt plus interest and could potentially include penalties, too. The IRS might determ... CONTINUE READING

IRS Form 15103: Why and How to Complete It

May 5, 2024 | Tax Relief Unfiled Tax returns

IRS Form 15103: Why Did I Get This Form and How Do I Complete It? Sometimes, it can be hard to know if you are required to file a tax return or not. However, if you don't file a return and the IRS thinks that you should have filed, the agency will send you a notice. This often comes in the form of a CP59, CP516, CP518, or similar notice, along with Form 15103. If this happens, are you in trou... CONTINUE READING

Is the IRS Fresh Start Program Legit? Fact vs. Marketing Fiction

May 5, 2024 | Tax Debt Tax Help

Is the IRS Fresh Start Program Legitimate? What to Look Out For If you’ve struggled with past due taxes, an ever-growing tax bill, and more interest and penalties than seem fair, you’ve likely come across information on the IRS Fresh Start program. Depending on your sources, you may have heard that it’s a way to pay less than what you owe on your taxes, a way to spread payments out over time, or a way to delay payments until you are able to ca... CONTINUE READING

Willful and Non-Willful Failure to File FBAR Penalties

April 8, 2024 | FBAR Tax Audits Tax Compliance

FBAR Penalties: What to Expect If You Don't Report Foreign Bank Accounts Nothing’s quite as alarming as finding out you’re in violation of a law that you didn’t know existed. If you have foreign bank or financial accounts, you may be required to file an FBAR every year. Failing to do so could mean paying tens of thousands of dollars in penalties. However, you do have options. Depending on your circumstances, how far behind you are in your filings, and whether or not you paid a... CONTINUE READING

When the IRS Files for You: Substitute for Return (SFR)

April 8, 2024 | Tax Help Unfiled Tax returns

IRS Substitute for Return: What Happens When the IRS Files a Return for You? Statistics from 2023 show that individual taxpayers collectively owe over $316 billion to the IRS in overdue taxes. Many of these taxpayers failed to ever report their taxes, and in these situations, the IRS has the right to generate a substitute for return on their behalf. These tax return estimates often greatly over... CONTINUE READING

IRS Automated Collection System (ACS)

April 7, 2024 | Payment Plans tax collections Tax Help Tax Issues

What to Expect When the IRS's Automated System Tries to Collect Your Back Taxes If you have outstanding tax debts your account is typically sent to the IRS Automated Collection System (ACS). The ACS is a system used to manage the collection of outstanding IRS tax debts from individual taxpayers and businesses. If you have received a notice from IRS ACS and are unsure what to expect, here’s everything you need to know. What is the IRS Automated Collection System?... CONTINUE READING