Can the IRS Take My Home or Other Property?

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The IRS does not commonly force the sale of a taxpayer’s home, but it has the legal power to pursue property in serious collection cases. One of our clients learned this after ignoring IRS notices until the government filed a federal lawsuit seeking a forced sale.

What Happens During an IRS Audit of an Owner-Operator?

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An IRS audit can leave an owner-operator facing a large tax bill, especially if notices go unanswered. One of our clients faced a $300,000 assessment after missing his audit appointment. His receipts and travel logs helped us turn the case around. Learn what the IRS reviews and how to prepare.

Can the IRS Take My Bank Account or Retirement Fund?

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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?

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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?

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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.