CANDACE STEVENS's (numbercruncherllc) Blog

How could Tom have avoided the mess he ended up in with the IRS?  Let's take a look.1st - He could have paid the tax he owed with the original tax return.2nd- He could have sent in his tax return without payment but immediately set up an installment agreement with the IRS.3rd - He should have ope...

When we left Tom he had just had his bank account cleaned out because of a levy that was issued by the IRS.  He is frantic as checks are going to bounce and mostly because his spouse has no idea there is an IRS problem.  So how did we help him?We called the IRS and explained that the client was i...

In Part 1 we saw that Tom had ignored his problem of owing around $95,000 to the IRS so his bank account was levied.  Let's take a look at what happened.When the levy reached the bank, Tom had $5,300 in checking and the levy took all of it.  There was a deposit of $2,500 made the day after, but t...

Tom calls me on 4/15 and was hysterical!  His bank account was levied.  And if that wasn't bad enough, he has been hiding the IRS issue from his spouse and checks are going to bounce.  Tom pleaded with me to help him with the IRS problem and save his marriage.  The good news is if we act quick en...

You need to reply to a letter from the IRS or mail money by a certain date.  You put the letter/money in an envelope, you seal, stamp, and label the envelope.  You drop the letter in the outgoing slot at the post office.  You made it in time...or did you?The IRS does not recognize the date that i...

1099 Employee.  What is it?  Well, there is actually no such thing as a 1099 employee. When a person works for a business they are either an employee or an independent subcontractor, period.  There is no in-between.  How do you know how you should be classified?  Let's look at the definition and ...

Tax Avoidance vs Tax Evasion.  One is a legal way to reduce your tax liability and one is not.  Let's look at each one and find out which one is legal and which is not.Tax Avoidance is using legal means to reduce your tax liability.  Tax planning and using IRS-approved tax strategies are the best...

You are planning on selling your house because you've got new adventures on the horizon. However, during the title search, you find there is a tax lien on your property from the IRS.   You are devastated as you know that property cannot be transferred to the new owner with the tax lien on it.What...

As a business owner, you are obligated to collect and remit payroll taxes for your employees. But you are not required to collect and remit payroll taxes for independent contractors.That’s why it’s important to correctly classify workers as either employees or independent contractors.But here’s t...

Now that tax season is here, there are all kinds of scams that are going on and you need to be mindful of these scams. The one in particular that I want to tell you about are tax resolution companies that promise that they can save you pennies on the dollar for the tax debt that you owe the IRS. ...