Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

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ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems
We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through. We pride ourselves on being very efficient, affordable, and of course, extremely discrete.  For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Enrolled Agentamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Certified QuickBooks ProAdvisor

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ABA Tax Accounting | QuickBooks ProAdvisor

QuickBooks Accounting - Accounting software programs like QuickBooks are ideally suited for small business owners. These programs have simplified the bookkeeping process for you. However, no accounting package can be operated properly without sufficient understanding of its features and functionality. It is a must for proper business management to complete the set up and installation properly. For no obligation free consultation contact us today!ABA Tax AccountingAuthorized QuickBooks AffiliateToll Free (866) 936-0430 http://www.abataxaccounting.cominfo@abataxaccounting.comQuickBooks Accounting Services

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

ABA Tax Accounting | Offer In Compromise

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ABA Tax Accounting | Offer In Compromise | St. Paul, MN Accounting Firm

Offer in CompromiseAn offer in compromise allows you to settle your tax debt for less than the full amount you owe. It may be a legitimate option if you can't pay your full tax liability, or doing so creates a financial hardship. IRS considers your unique set of facts and circumstances:·         Ability to pay;·         Income;·         Expenses; and·         Asset equity.IRS generally approves an offer in compromise when the amount offered represents the most IRS can expect to collect within a reasonable period of time. Explore all other payment options before submitting an offer in compromise. The Offer in Compromise program is not for everyone. If you hire a tax professional to help you file an offer, be sure to check his or her qualifications. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Enrolled Agentamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

ABA Tax Accounting | Why QuickBooks

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ABA Tax Accounting | Why QuickBooks | St. Paul, MN Accounting Firm

Why You Should Use QuickBooks QuickBooks is the ideal business accounting software for small to mid-sized business owners. Here's 10 reasons why you should be using QuickBooks.1.      You save time on bookkeeping and paperwork because many of simple bookkeeping tasks are handled automatically making it easier to run your business.2.      You can easily generate the reports with the information you need, so you always know where your business stands. You instantly know whether you're making money and whether your business is healthy.3.      You save money because QuickBooks is so affordable. You can use it to run a $5 million or a $25 million business for a few hundred bucks. Accounting software is truly one of the great bargains in business.4.      Your business can grow with QuickBooks. QuickBooks will help you design a business plan to use when trying to secure a small business loan or line of credit or to plan for the future. QuickBooks will create a projected balance sheet, profit and loss statement and statement of cash flows in the format recommended by the U.S. Small Business Administration.5.      You can customize QuickBooks to work the way you want. QuickBooks is specifically designed to be flexible and adaptable to a wide range of small businesses. To broaden its appeal, QuickBooks has recently added customized accounting packages for contractors, retailers, health care professionals, and non-profit organizations.6.      You can rest assured knowing that QuickBooks is a stable, reliable and proven product. Hundreds of thousands of small businesses throughout the world have chosen QuickBooks as their accounting software. You can't go wrong with a software program with such an extensive installed user base.7.      You save typing time and errors by sharing data between QuickBooks and over 100 business applications. You can even share data with popular programs, such as Microsoft Excel, Word, Outlook and ACT.8.      You will get paid faster with QuickBooks online payments. E-mail an invoice or statement and with QuickBooks Online Billing, your customer can easily pay you with a credit card or bank account transfer. No more waiting for the check in the mail!9.      You can easily accept credit cards. With QuickBooks Merchant Account Service, you can accept credit cards with ease. QuickBooks Merchant Account Service is the only credit card acceptance service integrated with QuickBooks software, which means you don't have to enter the same data twice. No additional software or hardware is required. Your customers can use Visa, MasterCard, or American Express.10.  You can pay your bills and handle your banking online. Setup your current bank account in QuickBooks, and you're ready to pay your bills without licking envelopes, sticking stamps, or printing paper checks. Just write checks in QuickBooks as you normally would, then click a button and your participating bank does the rest! Pay anyone in the U.S. from your credit card companies to your pizza service. Online banking also lets you download your monthly statement from your participating bank directly into QuickBooks for easier reconciliation.
For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks AffiliateToll Free (866) 936-0430 http://www.abataxaccounting.cominfo@abataxaccounting.comQuickBooks Accounting Services

Child Tax Credit can save you Money

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ABA Tax Accounting | Tax Services | St. Paul, MN Accounting Firm

Child Tax Credit can save you MoneyFederal, State, Local and International Taxes - If you have a child under age 17, the Child Tax Credit may save you money at tax-time. Here are some facts the IRS wants you to know about the credit.·         Amount.  The non-refundable Child Tax Credit may help reduce your federal income tax by up to $1,000 for each qualifying child you claim on your return.·         Qualifications.  For this credit, a qualifying child must pass seven tests:1.    Age test.  The child must have been under age 17 at the end of 2012.2.    Relationship test.  The child must be your son, daughter, stepchild, foster child, brother, sister, stepbrother, or stepsister. A child may also be a descendant of any of these individuals, including your grandchild, niece or nephew. You would always treat an adopted child as your own child. An adopted child includes a child lawfully placed with you for legal adoption.3.    Support test.  The child must not have provided more than half of their own support for the year.4.    Dependent test.  You must claim the child as a dependent on your federal tax return.5.    Joint return test.  The child cannot file a joint return for the year, unless the only reason they are filing is to claim a refund.6.    Citizenship test.  The child must be a U.S. citizen, U.S. national or U.S. resident alien.7.    Residence test.  In most cases, the child must have lived with you for more than half of 2012.·         Limitations.  The Child Tax Credit is subject to income limitations, and may be reduced or eliminated depending on your filing status and income.·         Additional Child Tax Credit.  If you qualify and get less than the full Child Tax Credit, you could receive a refund even if you owe no tax with the refundable Additional Child Tax Credit.Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

ABA Tax Accounting | Payroll Service

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ABA Tax Accounting | Payroll Service | St. Paul, MN Accounting Firm

What constitutes a trade or business expenses
SmallBusiness Accounting  - what must a taxpayer show in order to treat expenditureas a deductible trade or business expense? In order to deduct expenditure as atrade or business expense, generally taxpayers must show: • The existence of atrade or business; • A sufficientconnection between the expenditure and the trade or business; • That theexpenditure was ordinary and necessary for the trade or business; • That the expensewas incurred while the taxpayer was “carrying on the trade or business”; and • That theexpenditure does not violate a specific public policy limitation.
Consideringa Tax Professional? For no obligation free consultation contact us today!ABA Tax Accountinginfo@abataxaccounting.com866-936-0430Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Important Reminders about Tip Income

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ABA Tax Accounting | Tax Services | St. Paul, MN Accounting Firm

Federal, State, Local and International Taxes - If your pay from your job includes tips, the IRS has a few important reminders about tip income: ·         Tips are taxable. Individuals must pay federal income tax on any tips they receive. The value of non-cash tips, such as tickets, passes or other items of value are also subject to income tax.·         Include all tips on your return. You must include all tips that you receive during the year on your income tax return. This includes tips you received directly from customers, tips added to credit cards and your share of tips received under a tip-splitting agreement with other employees.·         Report tips to your employer. If you receive $20 or more in cash tips in any one month, you must report your tips for that month to your employer. Your employer is required to withhold federal income, Social Security and Medicare taxes on the reported tips.·         Keep a daily log of tips. You can use IRS Publication 1244, Employee's Daily Record of Tips and Report to Employer, to record your tips.For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Are there tax advantages to operating as an S corporation?

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ABA Tax Accounting | Small Business Accounting | St. Paul, MN Accounting Firm

Yes. The major federal income tax advantages of operating as an S corporation include:•  single level of tax – Generally, the income of an S corporation is passed through to its shareholders and is taxed only once to the shareholders. •  losses – Generally, S corporation shareholders may deduct their shares of the corporation's net operating loss on their individual tax returns in the year the loss occurs. •  income splitting – S corporation shareholders can split income amongst family members through gifts or sales of stock thereby shifting income tax liability to family members in lower tax brackets. •  alternative minimum tax – The AMT does not apply to S corporations (although their shareholders may be subject to the AMT).Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax Accountinginfo@abataxaccounting.com866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

To contact us Click HERE
ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

CPA OUTSOURCING SOLUTIONS

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ABA Tax Accounting | CPA Outsourcing Solutions | St. Paul, MN Accounting Firm

Our cost-effective outsourcing solutions allow our clients to streamline their day-to-day business operations and lower overhead costs without sacrificing quality or productivity.ABA Tax Accounting will prepare your tax return and provide you with the finished files. Types of tax returns processed by ABA Tax Accounting include:

• Individual Tax Preparation - Form 1040, 1040NR, 2555
• Business Tax Preparation - Form 1065, 1120, 1120s, 1120 IC-Disc, 1041, 990, 706

Help! What If I Can't Make My IRS Payment?

To contact us Click HERE

If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?

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ABA Tax Accounting | Tax Problems | St. Paul, MN Accounting Firm

Tax Problems - Does a tax lien automatically attach to the taxpayer's property?
Yes. A tax lien arises automatically when the taxpayer fails to pay an assessed tax, and the IRS does not need to take any action to validate the lien. The lien relates back and attaches to the taxpayer's property as of the date of the assessment. A tax lien is generally valid against a third party however, only if the IRS timely files a Form 668(Y) (Notice of Federal Tax Lien) with the appropriate authority. Once the notice of lien is properly filed, any third person acquiring the property acquires it subject to the tax lien. Considering a Tax Professional? For no obligation free consultation contact us today!ABA Tax AccountingAmare Berhie, Senior Tax Accountantamare@abataxaccounting.com612-282-3200 Toll Free866-936-0430http://www.abataxaccounting.comwww.abatax81.blogspot.comwww.abataxaccounting.wordpress.com

Help! What If I Can't Make My IRS Payment?

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If you are one of thousands of taxpayers who are in a payment plan with the IRS, but due to current economic conditions cannot make your payment, you have options. If you have lost your job and your entire financial situation has changed, you need to contact the IRS and be prepared to lay out your new situation. If you expenses have not changed and your income is all that has changed, you may just need proof (like a termination letter) you no longer have a job.

If your expenses have changed as well, you may need to provide proof of those changes as well. When you talk to the IRS, only say what has happened and answer honestly and completely any questions they may ask. Do not volunteer information, except to briefly explain your situation. Don't get chatty, even if the person you talk is friendly and personable, remember, they work for the IRS. You could make one simple statement that could cause you problems.

If your liability is substantial and you need assistance, contact an Enrolled Agent, who can represent you before the IRS. What ever you do, do not ignore your situation. If you default you payment plan, the IRS can levy your bank accounts, retirement accounts and file a lien even if your tax liability is low. Call either the IRS or an Enrolled Agent before the IRS makes a bad financial situation even worse.

What’s New in QuickBooks Contractor 2013?

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ABA Tax Accounting | QuickBooks ProAdvisor 

QuickBooks Accounting Services - The latest version of QuickBooks Premier features a refined layout, simplified navigation & other improvements to help you do more with QuickBooks. Create 'Jobs by Vendor' report; Run 'Cost to Complete Job' report; Analyze job profitability; Create job estimates & track change orders; Bill clients progressively by job phase; Track expenses that are not assigned to jobs; For no obligation free consultation contact us today! ABA Tax AccountingAuthorized QuickBooks Affiliate612-282-3200 Toll Free (866) 936-0430 www.abataxaccounting.comamare@abataxaccounting.comQuickBooks Accounting Services

Worry Free Payroll Service

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ABA Tax Accounting | Payroll Service

Small Business Accounting  - When it comes to paying employees, laws and the IRS have made the payroll function a time consuming nightmare for the small business owner.  For no obligation free consultation contact us today!ABA Tax Accountinginfo@abataxaccounting.com866-936-0430 Toll Freehttp://www.abataxaccounting.comwww.abatax81.blogspot.com