Do’s & Don’ts Of Requesting IRS Penalty Abatement
Taxpayers often dread paying IRS penalties. Unfortunately, many do not request relief or are denied due to not following essential guidelines. Although requesting post-filing relief or “abatement” may not always be practical, relief is accessible for two of the most common IRS penalties by adhering to specific rules. Common IRS Penalties The IRS imposes over […]
Understanding The Different Types Of IRS Penalties For Back Taxes
Types of IRS Penalties The Internal Revenue Code mandates various deadlines for filing tax returns and paying taxes. Despite their straightforward nature, many taxpayers miss these deadlines and face a range of penalties. These penalties, coupled with accrued interest, can significantly impact a taxpayer’s financial situation. The main penalties include: (1) late or non-filing of […]
Navigating Offer in Compromise (OIC): Your Guide to Tax Resolution in Hawaii
Discover how an Offer in Compromise can be your pathway to resolving tax debt with the IRS. Tax Resolution Services of Hawaii offers expert guidance and support through the complex OIC process, helping you achieve financial freedom.
Tax Relief Options for Small Business Owners with Unpaid Taxes
Owning a small business in Hawaii is as challenging as it is rewarding, especially when it comes to navigating the tricky waters of tax obligations.
Unprecedented Penalty Relief to Taxpayers
In an unprecedented move, the IRS has announced a substantial penalty relief program.
Common Frustrations When Dealing with the IRS When You Owe Back Taxes
Dealing with the IRS can often feel daunting and frustrating, especially when you’re trying to tackle substantial tax debt on your own.
New Beneficial Ownership Information (BOI) Reporting Requirements
As we step into 2024, a significant change is on the horizon – the new Beneficial Ownership Information (BOI) Reporting Requirements established by the Financial Crimes Enforcement Network (FinCEN).
How 2024’s Inflation Shifts Affect Hawaii’s Taxpayers
As the tide rolls in with new tax adjustments for 2024, taxpayers in Hawaii need to navigate the changing financial seas with care.
Tax Relief 101:
Understanding the different forms of tax relief and the qualification criteria can empower taxpayers to take control of their financial obligations to the IRS and seek the necessary assistance.
Business Owners: Owe Back Taxes?
Small businesses often face unexpected financial challenges. Among the scariest of these challenges is unpaid taxes. Once the IRS gears into action, they are known for their relentless pursuit and uncompromising measures.
