Ben Noll, Author at Enterprise Consultants Group

Ben Noll In IRS Tax Debts, IRS Tax Relief, Tax Penalties

What to Do If You Failed to File Your Personal Taxes on Time

Nearly every adult in the U.S. must file an annual federal income tax return with the IRS that discloses their income, identifies tax deductions and credits, and states the amount of tax that is owed. What happens if a taxpayer fails to file on time? The consequences could include penalties and interest,...

Ben Noll In Recent News, Tax Law Problems

Congress Passes Legislation Reforming IRS, Improving Protections for Taxpayers

Congress passed H.R. 3151, a bipartisan bill known as the Taxpayer First Act (TFA), in June 2019. The president signed it into law on July 1. Title I of the new law, entitled “Putting Taxpayers First,” improves procedures for assisting taxpayers and handling appeals. Title II, entitled “21st Century IRS,” improves...

Ben Noll In Defense of Marriage Act, Financial Disclosure, Recent News

New Bill Would Allow Same-Sex Couples to Claim Refunds

Last month, the House Ways and Means Committee unanimously approved a bill to allow same-sex couples who married before the overturn of the Defense of Marriage Act (DOMA) to amend their filing status and claim their tax refunds as jointly-filed spouses. If enacted, this bill would be a huge step...

Ben Noll In Cryptocurrency, Financial Disclosure, Recent News

Virtual Currency – Great Investment or Tax Pitfall?

In recent years, taxpayers have been investing in virtual currency to exchange monies in the virtual marketplace or hold on to as investment assets. One of the subgroups of virtual currency is cryptocurrency, or a digital form of currency traded or secured using cryptography. The emergence of this digital asset...

Ben Noll In IRS Tax Debts, IRS Tax Relief, Tax Penalties

The IRS Expands the Availability of Waivers for Underpayment Penalties

Our tax system requires most taxpayers to make regular payments to the IRS throughout the year. The tax return that is due to the IRS every April 15 shows the final amount of tax owed for the year, as well as the amount of tax already paid by, or on...

Ben Noll In IRS Tax Debts, IRS Tax Relief, Tax Law Problems

The Taxpayer Bill of Rights

Federal tax law is complicated, to put it lightly. Taxpayers routinely find themselves having difficulty understanding various provisions of tax laws and regulations. Congress has tried to help by creating the Taxpayer Bill of Rights (TABOR), which identifies ten key rights, and which serves as a directive to the Internal Revenue...

Ben Noll In IRS Tax Debts, Payroll Tax, Tax Penalties

What to Do If You Failed to File Taxes for Your California Business

Businesses are required to file annual income tax returns with federal and state tax authorities, and they may also have to file payroll and sales tax reports. Failing to file a return on time can lead to penalties, interest, and other consequences. Even if you or your business is not...

Ben Noll In Bankruptcy

Can Bankruptcy Eliminate Tax Debts?

Bankruptcy allows individuals and businesses in financial distress to obtain relief from their debts. “Financial distress,” in this context, typically refers to situations in which one’s income is not enough to continue making required debt payments. The “relief” offered by bankruptcy may involve a discharge of debt after a period...

Ben Noll In Tax Penalties

IRS Warns of Higher Penalty for Tax Returns Filed After June 14

The IRS recently issued out a warning to taxpayers who owe tax and have not filed their 2018 tax return, or a valid extension, to act before Friday, June 14, before facing higher penalties. Although the IRS lowered the threshold for imposing under withholding and underpayment penalties earlier this year...

Ben Noll In Uncategorized

Avoiding Federal Tax Penalties if You Cannot Pay in Full

With the federal tax due date approaching, some people may worry about being able to pay their tax bill on time. Several options are available, each with benefits and drawbacks. Any taxpayer who worries about covering their bill should carefully consider each of these options. Nobody should skip filing their...

Ben Noll

What to Do If You Failed to File Your Personal Taxes on Time

Congress Passes Legislation Reforming IRS, Improving Protections for Taxpayers

New Bill Would Allow Same-Sex Couples to Claim Refunds

Virtual Currency – Great Investment or Tax Pitfall?

The IRS Expands the Availability of Waivers for Underpayment Penalties

The Taxpayer Bill of Rights

What to Do If You Failed to File Taxes for Your California Business

Can Bankruptcy Eliminate Tax Debts?

IRS Warns of Higher Penalty for Tax Returns Filed After June 14

Avoiding Federal Tax Penalties if You Cannot Pay in Full

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