Let Morgan Sebastian Law Help Solve Your Tax Problem
The IRS’s Fresh Start Program provides relief for taxpayers struggling with unpaid tax debt. It offers a structured way to manage tax obligations and avoid severe penalties. Understanding the program’s components and qualifying requirements can help individuals regain...
Tax shelters may seem like an appealing way to lower tax obligations, but participating in improper or abusive tax shelters can lead to serious penalties. The IRS enforces strict rules to discourage underpayment of taxes tied to these schemes. Accuracy-related...
Tax audits can be stressful, but preparation makes the process manageable. The IRS has updated its audit selection methods, incorporating advanced technology and data analytics. Taxpayers can stay ahead by adopting strategies that ensure compliance and readiness....
Taxing crypto assets poses a big challenge for governments around the world. Cryptocurrencies like Bitcoin and Ethereum are gaining popularity, but their decentralized nature and ability to cross borders make them hard to control. Understanding the tax rules for...
The rise of gig economy work, including freelancing, ride-sharing, and other contract-based jobs, has drawn the attention of the IRS. As more workers join the gig economy, the IRS increases its scrutiny, which impacts how workers report taxes and meet compliance...
Taxpayers sometimes face penalties for filing their taxes late. These penalties can add up quickly, causing financial stress. Fortunately, taxpayers have ways to challenge these penalties if there is a reasonable explanation for the delay. Understand reasonable cause...
Digital nomads often earn income while traveling across different countries. Understanding how the IRS treats foreign income is crucial for tax compliance. The IRS rules can be complex, but knowing the basics helps digital nomads avoid penalties. What qualifies as...
Self-employed individuals face unique challenges when preparing for a potential audit. By staying proactive and organized, they can reduce the stress and risks of a tax audit. Maintain thorough documentation The most important aspect of preparing for an audit is...
Filing for innocent spouse relief can have a significant impact on your future joint tax filings. The IRS protects individuals from their spouse's tax errors, like unreported income, if they were unaware of the mistake. However, while this relief can be a financial...
When you owe a tax debt to the federal government, the IRS may place a tax lien on your property to secure payment. A tax lien can complicate your financial situation by affecting your ability to sell property, secure credit, or refinance. If you've partially paid...
