Let Morgan Sebastian Law Help Solve Your Tax Problem
Falling behind on California filings can feel overwhelming, especially if notices have already started arriving or you are unsure what you owe. You may worry that filing late will make the problem worse. However, waiting usually gives the California Franchise Tax...
Receiving a letter from the Internal Revenue Service (IRS) or from the California Franchise Tax Board (FTB) can threaten your financial stability. The possibility that the IRS could garnish your wages, freeze your bank accounts or place a lien on your home can create...
Installment agreements with the California Franchise Tax Board (FTB) let you spread state tax debt over monthly payments instead of paying a lump sum. These repayment plans may stop some collection activity while you pay, but you must meet reporting requirements and...
Foreign bank accounts can raise red flags with the IRS if your reporting does not line up with federal rules. FBAR requirements apply to many taxpayers, even when no tax is due. If the IRS questions your disclosures, you need to understand what caused the attention....
Cryptocurrency is no longer the niche interest that many once ignored. It has become a growing form of capital, with more people investing in digital currency every day. As more investors enter the market, the value of cryptocurrency continues to rise. In some cases,...
Married couples often file tax returns together. In fact, it is relatively common for one spouse to handle the process of preparing income tax returns, while the other simply signs the return. In such cases, the other spouse may have very little knowledge about the...
When people estimate their income taxes, they can easily fall short of their actual obligations. Annual income tax returns help reconcile the amount paid in advance with the actual tax liability of a person, household or business for the year. Income tax debts can...
Living with tax debt can be overwhelming, especially when the numbers continue to grow, and there seems to be no end in sight. However, there is something many people may not know. Tax debt does not last forever. California tax debt has a shelf life. While it is not...
There are a lot of things that need to be handled when a person passes away. One that’s sometimes overlooked is the need to file the decedent’s final federal income tax return. Death doesn’t automatically cancel their obligation to the federal government. If a final...
Tax disputes can arise for various reasons, often stemming from misunderstandings or disagreements between taxpayers and the IRS. These conflicts can be stressful, but understanding the common causes can help prevent or address them more effectively. Misreporting...
