As part of the Internal Revenue Code, specific organizations would have to report their activities for every calendar year for documentation purposes. Such organizations must fill...
Posted by Rosovich & Associates, Inc. on 04/17/2022
If you're in debt or feel your debt is growing, you're probably not alone. As many Americans are still trying to get their debt under control largely from the effect of the...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/10/2022
Have you ever wondered what happens if you don't pay your taxes by the deadline? Chances are, you are probably not alone. While not paying on time is a situation best avoided,...
Posted by Rosovich & Associates, Inc. on 03/10/2022
We not only avoid debt or pay taxes to stay out of trouble but more because it reflects on an individual's responsibility. Doing something because it is one's duty to avoid...
Posted by Rosovich & Associates, Inc. on 02/28/2022
An OIC (Offer in Compromise) is a payment option that the IRS makes available to taxpayers. It enables you to pay off your tax debt without "going bankrupt" or "breaking...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2021
Defaulting on your business loan will trigger a series of negative consequences. It might accelerate the loan, making you owe the entire loan balance rather than what is outstanding...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/26/2021
Failure to protect the assets that you worked your fingers out to gather might be lost easily in bankruptcy, lawsuit or to creditors. This makes it essential to keep all laws in mind...
Posted by Rosovich & Associates, Inc. on 09/26/2021
You might need to report the canceled amount as income on your tax return if you could get a debt write-off or forgiveness. You should know what to expect so you don't end up with...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 09/20/2021
The IRS has offered varying options to taxpayers who cannot pay their complete taxes. They have set up a partial payment installment agreement called the PPIA to sort such issues....
Posted by Rosovich & Associates, Inc. on 08/06/2021
