January 17, 2026 | Uncategorized
What Happens When the NYS DTF Levies Your Bank Account? When the NYS Department of Taxation and Finance Levies Your Bank Account If you don’t pay your state tax... CONTINUE READING
January 17, 2026 | Tax Laws
Can a Divorce Decree Protect You from the IRS? A divorce decree may clearly state who's responsible for unpaid taxes, but unfortunately, it doesn't override the law. When you file a tax return jointly with your spouse, you are both liable for the tax due – regardless of what the divorce decree says.... CONTINUE READING
January 4, 2026 | Unfiled Tax returns
If you haven’t filed your taxes, you may think you can fly under the radar and not be detected by the IRS. Unfortunately, the IRS probably has information about you already, so the agency will quickly realize that you skipped your filing obligation. For instance, the IRS may have income information from your employer on a W-2 tax form, information about investment income on a 1099-B, or information about other income on a 1099-MISC, 1099-NEC, etc.... CONTINUE READING
January 4, 2026 | Tax Debt
If you have unpaid taxes or haven’t filed your returns, the IRS will start sending you notices asking you to get back into compliance. If you don’t resolve your issue after receiving notices, you may get CP504B. This is a notice for businesses, indicating that the IRS will levy assets if the amount owed isn’t paid immediately. Notice CP504B is serious and me... CONTINUE READING
November 28, 2025 | payroll tax
IRS Form 940 and 941 are essential employer tax documents with distinct purposes, filing schedules, and penalties for late filing or balances due. Employers must understand what each form does, when it is due, and how to avoid costly mistakes or penalties. What Is IRS Form 940? Form 940, officially known as the Employer's Annual Federal Unemployment (FUTA) Tax Return, reports federal unemployment taxes. The FUTA tax provides funds for paying u... CONTINUE READING
November 22, 2025 | Tax Debt Tax Liens
What Happens to Transferred Assets When You Owe Back Taxes? When someone owes back taxes to the IRS and tries to transfer assets, the consequences can be severe for both the person who owed the taxes (the transferor) and the person or entity who received the assets (the transferee). The IRS and other taxing authorities possess sweeping powers to trace, reclaim, and penalize improper asset transfers meant to sidestep tax debts. Explo... CONTINUE READING
November 22, 2025 | payroll tax Tax Penalties
What to Know About Late Payment Payroll Tax Penalties Paying payroll taxes is just part of running a business. But staying compliant is easier said than done. When you fall behind on payroll taxes, the IRS may charge steep penalties and start trying to collect what you owe. The agency takes these tax obligations very s... CONTINUE READING
November 22, 2025 | Tax Help Unfiled Tax returns
Should I Hire a Tax Professional for Unfiled Returns? Taxpayers frequently miss the deadline for filing their tax returns, with millions of returns going unfiled every year. Even though it’s common, you should still do everything you can to get your returns filed on time; otherwise, you’ll have to deal with IRS penalties and interest charges on the balance you owe. But getting caug... CONTINUE READING
November 22, 2025 | Sales Tax
What to Do When You Haven’t Been Paying NY Sales Tax Business owners have unique obligations when it comes to paying taxes. Unfortunately, these obligations can get complicated, especially when you have to understand both federal and state tax laws. Have you missed paying sales tax when you should have been? In New York, it’s importan... CONTINUE READING
November 22, 2025 | Tax Notices
Understanding NYS Tax Notices and How to Respond New York State (NYS) tax notices are official communications regarding your tax filings, payments, or other issues with the Department of Taxation and Finance. Understanding the different types of notices and response steps helps you avoid penalties and resolve issues efficiently. Common Types of NYS Tax Notices Assessment Notice: Sent when NYS determines you owe additional tax, of... CONTINUE READING
IRS vs New York Tax Collections: What’s Different and Why It MattersIf you owe taxes to both the IRS and New York State, you need to make payment arrangements separately with these agencies. You also need to be aware of their unique collection processes, so that you know what to expect...
