Author: Tax Consultants
Tax Code Changes for The 2023 Filing Season
The tax relief professionals at Anderson Bradshaw thought it helpful to provide, in plain English, the code changes for 2023 as opposed to your navigating the IRS website. This blog aims to set out the changes and essential points for consideration as you prepare for the upcoming season. Form 1099-K In 2022, taxpayers who received […]
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Tax Debt Relief Programs
Although not openly promoted, the IRS does offer incentives and has designed programs to bring relief to both individual taxpayers and business owners. There is not a set program or a formula the IRS can apply to all situations. The IRS investigates and examines each case and the merits of it. Good faith is key, […]
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Tax Rate for Capital Gains
In the recent past, the gains realized from the sale of capital assets held over the long term have been calculated and taxed at a lower rate than ordinary income. The capital assets include the sale of an investment property, stocks, bonds, collectibles, and a primary residence. The purpose of this blog is to explain […]
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IRS to Waive Failure-to-File Penalties for Certain Taxpayers
Good News for Taxpayers: IRS to Waive Failure-to-File Penalties for Certain Taxpayers in Response to Pandemic In response to the COVID-19 pandemic, the IRS issued Notice 2022-36, waiving failure-to-file penalties against certain taxpayers for 2019 and 2020. However, taxpayers must act fast to take advantage of this tax debt relief. To qualify, the missing returns […]
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Understand Your Tax Debt Relief Options for a Fresh Start
Every day that you put off resolving your tax debt, penalties and interest are added. The IRS won’t forget about the taxes you owe. If you ignore the payment demands, they have the power to garnish your wages, put a tax lien on your property and physical assets, or issue a bank levy freezing your […]
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Tax Debt Relief with Anderson Bradshaw Tax Consultants
Americans owed $10.2 million in back taxes to the IRS in 2021. Have you received a past due notice from the IRS? Perhaps the IRS has already garnished your wages or seized your bank account. Your tax issues won’t go away on their own, and you could face losing everything you have! Several options for […]
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Wage Garnishment – Everything You Need to Know
If you have tax debt that you cannot pay, the government may take action to try and collect what you owe. One way they can do this is by garnishing your wages. Wage garnishment can be a huge blow to your finances, and it is important to know how to deal with it. In this […]
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What are Back Taxes?
Do you have tax debt? Are you feeling overwhelmed and stressed out? You’re not alone. Millions of Americans find themselves in the same situation every year. In this article, we will discuss what back taxes are, why they happen, and what you can do about them. We will also provide a few tips on how […]
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What is Tax Debt Relief?
It is important to keep in mind that the IRS does not advertise any type of tax debt relief. The IRS does, however, have incentives and programs that will lower a taxpayer or business owner’s tax bill such as tax credits and other temporary incentives, allowable deductions for retirement, tax debt forgiveness and the removal […]
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Small Business Tax Debt Relief
If you are a small business owner struggling to pay back taxes, do not throw your hands up in despair. There is light at the end of the proverbial tunnel.Many small business owners have access to numerous tax debt relief programs that are similarly available to individual taxpayers. Let’s take a look at a few. […]
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