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October 15th – Final Deadline: Individual (1040) and C Corp. (1120) Tax Filings

Individual (1040) and C Corp. (1120) tax returns and payments were due July 15th.  If your personal filings are on extension, please reach out to us to finalize by October 15th! We are working almost exclusively by phone or video conference, remotely, securely, and effectively. Please contact Brenda@taxplus.com or call 310.398.3231 to request a phone […]

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Will I Have To Pay The IRS For My Tax Debt Forever?

Tax Debt

A frequent question we often hear is “Can the IRS collect my tax debt from me for the rest of my life?”  Fortunately, the answer is no. The IRS has 10 years to collect any taxes you owe.   The 10 years starts to run from the date the IRS first assesses the taxes against you.  […]

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How Do I Qualify For An Offer In Compromise?

Offer In Compromise

An Offer in Compromise (OIC) allows you to settle your tax debt for less than the amount you owe.  However, just because the IRS accepted an OIC for your neighbor, co-worker or friend, does not mean that you will necessarily qualify for an offer.  An OIC may be an option for you if you can […]

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Tax Implications Of The Sharing Economy

If you are an Uber or Lyft driver, rent out a room through Airbnb or provide a number of other goods or services through an online platform, you are involved in the “sharing economy.”  This is also known as the on-demand, gig or access economy.  In the last few years, the sharing economy has emerged […]

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