Ploeg and Brown P.C. Owing back taxes to the IRS can be a daunting financial and emotional burden. The IRS has extensive powers to collect unpaid taxes, including wage garnishment, bank account levies, and property liens – all without requiring a court order. Moreover, penalties for non-payment can accumulate rapidly, potentially reaching up to 25%…
Ploeg and Brown P.C. What to Do About Unfiled Taxes and How to Deal with Back Taxes If you have unfiled tax returns, it’s crucial to address them promptly to avoid severe consequences. Here’s how you can handle unfiled taxes and manage back taxes effectively. Can I Lose My Tax Refund If I Don’t File…
Ploeg and Brown P.C. Tax season may conclude, but the potential for IRS penalties and interest lingers year-round. Familiarity with these charges empowers businesses and individuals to make informed decisions and potentially avoid significant financial repercussions. This article provides a comprehensive overview of common IRS penalties and interest, along with guidance on when to seek…
Ploeg and Brown P.C. When you have outstanding tax debts, the Internal Revenue Service (IRS) has the authority to issue a tax lien against you. If you’ve received correspondence indicating that the IRS is considering or has filed a tax lien, it’s crucial to understand the implications and take appropriate action. A tax lien is…
Ploeg and Brown P.C. Navigating IRS tax problems can be challenging for small businesses. Understanding common issues and potential penalties can help you manage your tax responsibilities effectively. Many small business owners report a loss in their first year of operation, and when the IRS steps in, navigating tax compliance can be particularly challenging for…
Ploeg and Brown P.C. Navigating the complexities of an IRS audit can be intimidating, but understanding the process and knowing what to expect can significantly ease the burden. In this blog post, we’ll delve into the intricacies of an IRS audit, and how to navigate through one with confidence. What Is an IRS Audit? An…
Facing a tax audit can be daunting and stressful, especially if you’re unsure about the process and what’s required. This blog post delves into the common issues related to tax audits, the steps involved, and practical advice on how to navigate this challenging process effectively. What is a Tax Audit? A tax audit is an…
Ploeg and Brown P.C. Trusts are an essential tool in estate planning, offering numerous benefits such as asset protection, tax efficiency, and ensuring your wishes are honored after you pass. To stay up to date and informed let’s delve into the importance of trusts, common issues in trusts law, and how we can assist you…