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The Internal Revenue Service (IRS) has taken legal action against Ottley Communications Corp., the owner of WSTA radio station on St. Thomas, demanding payment of more than $2.1 million in overdue unemployment taxes. The lawsuit, filed in U.S. District Court, outlines the company’s failure to meet its federal tax obligations, including unpaid taxes, late filings, … Continued
The U.S. Supreme Court has granted the IRS the authority to access bank records without notifying the taxpayer or their associates or joint holders. In Polselli v. IRS the Supreme Court’s unanimous decision affirmed the IRS’s power to secretly probe financial records. This ruling means that the IRS can investigate a taxpayer’s financial records, including … Continued
With the pandemic, many business owners struggled to keep aloat, including paying payroll taxes to the IRS, hoping the day would come when they could catch up but they never could. Not dealing with payroll taxes can result in jail time, fines and penalties and the loss of your business. The IRS has stated this … Continued
Just like Taxpayers make mistakes, the IRS makes them too. Sometimes trying to convince the IRS you don’t owe what they say you do is challenging but relief can be found with the U.S. State Tax Court. The United States Tax Court is the court we go to when we dispute what the IRS says … Continued
Receiving a notice from the IRS can be stressful, but it’s important not to ignore it. In June, millions of taxpayers will receive CP14 notices by mail, informing them of their balance due for unpaid taxes. Several times the notices are wrong, and even if they are right, they impose time deadlines to protect yourself … Continued
The Department of Justice announced last month that a Home Improvement Contractor was sentenced to two years in jail for failing to pay payroll taxes he collected from his employees. In addition to 2 years in jail he was ordered to pay restitution of over $1 million. Unfortunately for Jay Prather of Heritage General Building … Continued