Originally from Paladini Law
How the IRS calculates Reasonable Collection Potential (RCP), for an Offer in Compromise (OIC) involves evaluating the equity in your assets, your future income, and certain allowable expenses to estimate how much it
The Paladini Law Blog, published by Paladini Law, focuses on tax law issues primarily affecting individuals and businesses in New Jersey. It covers topics such as IRS audits, state and federal tax debt resolution, installment agreements, offers in compromise, and penalty abatement. The blog also addresses specific challenges like payroll tax liabilities, tax liens and judgments, wage garnishments, and residency audits. It provides guidance on navigating tax collection actions, understanding tax relief programs, and avoiding tax-related scams. The content is aimed at helping taxpayers manage complex tax problems, including both federal and New Jersey state tax matters, with practical legal insights and strategies.
Originally from Paladini Law
How the IRS calculates Reasonable Collection Potential (RCP), for an Offer in Compromise (OIC) involves evaluating the equity in your assets, your future income, and certain allowable expenses to estimate how much it…
Originally from Paladini Law
An IRS audit prep checklist is a step-by-step guide for preparing the documents, records, and supporting evidence you may need during an IRS audit. It typically includes organizing tax returns and financial records,…
Originally from Paladini Law
Opening an envelope from the IRS only to discover you lost your audit and owe a massive tax bill can be a panic-inducing experience. If you are staring at a balance you cannot…
Originally from Paladini Law
An IRS high-net-worth audit typically involves a detailed review of a taxpayer’s income, deductions, financial records, and business activities. Facing an examination by the Internal Revenue Service is a stressful experience, but the…
Originally from Paladini Law
The IRS is aggressively targeting cryptocurrency investors, and survival requires more than just hoping they don’t notice your trades. With the introduction of new reporting forms and advanced tracking methods, an IRS cryptocurrency…
Originally from Paladini Law
For years, taxpayers who made an honest mistake had to jump through hoops to get IRS penalties removed, but a major policy shift is changing the landscape of tax relief. On July 8,…
Originally from Paladini Law
Cryptocurrency investors can no longer rely on honor-system reporting, as the IRS has introduced strict new tracking mechanisms to close the digital asset tax gap. At the center of this enforcement is Form…
Originally from Paladini Law
If you do not have old tax documents, you can still file accurate tax returns by using IRS records and other available information to reconstruct your financial history.
Many clients contact us because…
Originally from Paladini Law
Once clients get back into compliance, the next goal is staying there. After years of stress and uncertainty, keeping filings current requires understanding your responsibilities and what the IRS expects going forward, including…
Originally from Paladini Law
The federal case Kwong v. United States has been seen as one of the most impactful tax rulings tied to the COVID-19 pandemic for individuals, businesses, and non-profits. Decided by the U.S. Court…