Q: I got my entity picked, now what do I need to do to start my business? A: First, you may need to get a Federal Identification Number from the IRS, unless you are eligible to use your social security number. If you need one, you need to complete Form SS-4, which can be both … Read more
Over the past couple of days, my office has received phone calls and clients stopping in with a letter from the IRS. While this is fairly normal, these particular letters are, in fact, completely fake. For one, the letter asks for a BLANK money order of $5,000 within ten business days. The IRS would not … Read more
Q: I heard the IRS changed the due dates of the 1099’s. I thought they were always due on January 31st, so what changed? A: W-2’s and 1099’s were always due to the recipients by January 31st, but, this year, they are also due to the IRS and SSA. This means that they have to … Read more
Q: I heard that criminals are impersonating IRS agents with aggressive and threatening phone calls, is this true? A: Yes, the Treasury Inspector General for Tax Administration (TIGTA) announced that they have received reports of roughly 896,000 contacts and have become aware of over 5,000 victims who have collectively paid over $26,500,000 as a result … Read more
Q: I know I owe back taxes to the IRS, but they called me, demanded credit card payment over the phone, and told me that the sheriff would be out to arrest me if I didn’t pay them immediately. Can they do that? A: DON’T GIVE OUT YOUR CREDIT CARD NUMBER! IT’S A SCAM! The … Read more