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government-goes-after-executors-for-estates-tax-liability

Government Goes After Executors for Estate’s Tax Liability

  When you act as a fiduciary for another person or entity, such as the Executor of an Estate, you have a responsibility not only to the estate personally, but to the beneficiaries and the federal government, namely the IRS….

January 21, 2022

how-to-achieve-currently-not-collectible-status

How to Achieve ‘Currently Not Collectible’ Status

The IRS is not heartless. It won’t demand taxes from people whose degree of financial hardship is so severe that paying their tax liability would leave them with the inability to buy basic needs, such as food. The IRS grants…

December 15, 2021

how-the-irs-distinguishes-between-a-business-and-a-hobby

How the IRS Distinguishes Between a Business and a Hobby

Many of us engage in activities for recreation, but not all of us can earn from it. If you’ve recently started to make money from a hobby, it may be time to register your activities as a business officially. You…

November 05, 2021

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