Can the IRS Take My Bank Account or Retirement Fund?

Published on

The IRS can levy a bank account and, in some cases, retirement savings to collect unpaid taxes. A bank levy generally comes with a short holding period before the money is sent to the IRS. Acting quickly can make the difference between protecting your money and trying to recover it after it is gone.

Should I Personally Guarantee a Business Loan?

Published on

You formed an LLC or corporation partly to separate your business finances from your personal finances. Then the bank hands you a loan agreement and asks you to sign a personal guarantee. It can seem routine. The lender may even describe it that way: “We require this from every small business owner.” But a personal … Continued

What Happens During an IRS Payroll Tax Audit?

Published on

An IRS payroll tax audit can uncover much more than mistakes on Forms 941. Learn what the IRS examines, why cash payments and worker classification can create major exposure, and when unpaid payroll taxes can become the business owner’s personal liability.

New Jersey Sales Tax Collections Are Rising Is Your Business Ready for an Audit

Published on

New Jersey reported that it collected approximately $1.33 billion in Sales and Use Tax during August 2026, 14.3% more than during August 2025. Because sales tax payments are reported with a one-month delay, the August figure principally reflects July business activity. Higher collections do not necessarily mean that audits produced the increase. However, the report … Continued