Tax Debt Settlement End Years of Struggle – Steamboat Springs, CO

A taxpayer in Steamboat Springs, Colorado was recently overjoyed to learn that her long struggle with the IRS to resolve her tax debt is finally over, thanks to the help of the 20/20 Tax Resolution team. As is so often… read full article

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What is the Taxpayer Advocates Office?

The Office of the Taxpayer Advocate, more commonly referred to, as the Taxpayer Advocate Service is an autonomous organization within the Internal Revenue Service.  The office was originally created under the Taxpayer Bill of Rights, an act of the United… read full article

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How to File for an Extension

If you find that April 15th is quickly approaching and you have not started preparing your tax return, you can get yourself some more time by filing an extension. The good news is that there is no penalty for filing… read full article

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What is a Penalty Abatement and What Can be Abated?

What is a penalty? For starters, it’s important to understand what a penalty is. A penalty is essentially a fee assessed to a taxpayer to punish the taxpayer for failing to meet certain requirements in its tax obligations. The most… read full article

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What You Should Know: Social Security Taxes

The number of individuals reaching the Social Security age in the United States continues to climb and many of those retiring are looking to enjoy some well deserved time off. So, at this stage in your life, how can you… read full article

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When and How to File an Amended Return

Every now and then after a filing your Individual Income Tax Return, Form 1040, you may recognize a mistake that was made, or something that was accidentally left off of the return. When this happens, an amended return should be… read full article

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The Who, What, When and How of Estimated Tax Deposits

Although Estimated Tax Deposits (“ETD”) are applicable to any income not subject to withholding taxes, the most common scenario is among self-employed individuals.  Self employed individuals make up about 7% of the workforce.  Self-employed individuals are required to make ETD over… read full article

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20/20 Helps Small Business Stay Afloat – Loganville, GA

Thanks to the help of the 20/20 Tax Resolution team, one small business owner was able to keep their business open and their employees working. After years of business in Loganville, Georgia, one local small business was preparing to lay… read full article

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What are the 2014 Tax Changes?

Every year bring changes in tax laws, keeping millions of taxpayers on their toes, and 2014 is no exception. Before you get ready to file next April, it is important to make note of some key changes in these laws…. read full article

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Don’t Be Penalized for Foreign Bank Accounts

Did you know that you could find yourself with an unexpected tax penalty for not informing the IRS that you have a bank account abroad? Although this rule only applies if your total amount on all foreign accounts at any… read full article

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