New Corporate Transparency Act (“CTA”) – Reporting Requirement – Beginning in 2024 business entities, including your LLC or corporation, have a new mandatory filing requirement to disclose the identity of the beneficial owners to the U.S. Treasury’s Department of Financial Crimes Enforcement Network (FinCEN). This applies to my law firm, my attorney friends, and our…
Read MoreAn offer in compromise is an agreement between the IRS and the taxpayer to settle the taxpayer’s back taxes for less than what is due and owing. Currently, the IRS will accept less than the full amount of tax due if: • it is satisfied that it will not be able to collect the full…
Read MoreYes, the IRS and state and local governments, such as Kentucky, Ohio, and Cincinnati, can levy independent contractors and self-employed taxpayers by seizing funds in their bank accounts and by seizing receivables directly from the taxpayer’s clients and customers. The tax attorneys and enrolled agents at Gatherwright Freeman can help you stop your tax levy…
Read MoreTaxpayers may not realize the IRS has issued a levy until payday arrives, but their paychecks do not. At Gatherwright Freeman we know that without funds to meet basic living expenses, missed car loans and mortgage payments often follow. Fear not, we can get the IRS to release or reduce levies in most circumstances, but…
Read MoreCan the IRS levy my bank account? Yes. If you owe the IRS back taxes and have not entered into an installment agreement or made other arrangements, the IRS can levy your bank accounts. If you have been levied, contact us today. The tax attorneys and enrolled agents at Gatherwright Freeman can stop IRS bank…
Read MoreKnow Your Rights About IRS Innocent Spouse Relief Did your ex-spouse leave you with back taxes? Has your current spouse failed to pay the taxes due on a joint tax return? You can be relieved of the obligation to pay your spouse’s taxes through the Innocent Spouse program. Click here to schedule an appointment. According…
Read MoreOur staff has twenty years of experience and a proven track record of providing tax relief to individuals and business owners. Legal ethics prevent us from saying we are the best tax attorneys to file your offer in compromise. We can tell you that over the past 20 years the tax attorneys and enrolled agents…
Read MoreAnyone who has undergone an IRS audit can tell you how painful the IRS makes the examination process. If the taxes and interest due after an audit are not bad enough, increasingly, the IRS has been piling on additional 20% penalties. What are these penalties and how are taxpayers fighting back? Internal Revenue Code §…
Read More“Gatherwright Freeman has extensive experience in successfully filing voluntary offshore disclosures for taxpayers.” The Voluntary Disclosure Program and Reporting Offshore Accounts and Assets FBAR/ Foreign Accounts over $10,000: The Bank Secrecy Act requires taxpayers with an interest or signature authority over any foreign financial account, including bank account, brokerage account, mutual fund, trust, or other type…
Read MoreIRS computers in Martinsburg, West Virginia rate every tax return filed for possible errors using a mathematical formula known as the “DiF Score”, or the “Discriminate Function.” The exact formula for the DiF Score is unknown, but it has to do with the amount of income you reported, sources of income, the size and types…
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