Fail to Remit Payroll Tax? Criminal Liabilities May Attach Normally, whenever an employer fails to pay over payroll taxes collected from its employees, the IRS will impose a hefty Trust Fund Recovery Penalty, which may equal the amount of the…
In April 2021, President Biden’s American Families Plan contained a proposal under which banks would report deposits and withdrawals for all business and personal accounts to the IRS except for accounts below a threshold of $600 or a fair market…
How you can deduct business startup costs from your income taxes When starting a business, owners should treat all eligible costs incurred before beginning to operate the business as capital expenditures that are part of their basis in the business.…
At Thorgood Law Firm in New York, we are IRS attorneys dedicated to bringing legal counsel to taxpayers across the United States.
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