Entrepreneurs justifiably take great pride in their business. But this pride often gets in the way of a clear understanding of the risk of continuing to operate into a storm of IRS trouble. The IRS...
Read PostCategory: Employment taxes, IRS Collection Problems, Trust fund recovery penalty, Unfiled returns
In tough economic times, hard-working entrepreneurs protect their business by first paying the vendors, suppliers and employees that are necessary to operations, and delaying payment to the IRS. This is because the vendors and employees are...
Read PostCategory: Employment taxes, Trust fund recovery penalty
I hear this often when I suggest bankruptcy as a source of resolution. I heard it again today during a telephone conversation with a new client. Here is what I explained to the client: Under the bankruptcy code,...
Read PostCategory: Bankruptcy - Chapter 13, Bankruptcy - Chapter 7, Bankruptcy and the IRS, IRS Audits, Substitute returns, Trust fund recovery penalty, Unfiled returns
This week, the New York Times reported that the cost of a 30-pound sack of rice has doubled, and a 15-pound bag of flour has almost tripled for restaurants. An article yesterday in The Cincinnati Enquirer...
Read PostCategory: Employment taxes, IRS Collection Problems, Trust fund recovery penalty
