Category: Tax Blog
IRS Audit Defense
Your worst fear has occurred. The IRS is auditing you. Whether it is a correspondence audit by mail, an audit down in your local IRS Office, or an IRS Field Audit in your home or business, it is stressful. You can represent yourself in an IRS Audit and may even achieve a successful result. Then […]
Tax Blog
Unfiled Tax Returns
One of the most common tax problems is unfiled tax returns. This is usually the first problem to handle, because most of the other problems cannot be solved until this is resolved. If you have an imminent tax levy, this levy might require a quick call to the IRS to get time to file. Generally, […]
Tax Blog
Unconfrontable Tax Debt
This is a common situation. For whatever reason, your IRS debt has spiraled out of control. There seems no possible way to pay it. You keep dreaming of a fantastic income year to handle it, and it does not happen. Each year the debt increases, the IRS Notices and Letters flood the mail box, and […]
Tax Blog
What If the IRS Is Threatening A Wage Or Bank Levy?
This requires a fast handling before your wage check shrinks or your bank accounts disappear. What to do? Contact Torchlight Tax for a free consultation. This consultation is usually followed by a GuardDog Tax Analysis where you sign certain legal documents, including an IRS Power of Attorney, and we contact the IRS, get your full […]
Tax Blog
Save Tax Dollars and Hassle by Acting NOW Before 2023 Tax Season
by Dave Horwedel, EA For many people, especially small business people, taxes and accounting are right up there with meeting your ex-wife’s millionaire new husband after he purchased your company, or discovering your broker had invested all your assets in FTX as a birthday surprise. Doing accounting and taxes at the last minute can be a harrowing experience. Also, clients often […]
Tax Blog
IRS Statute of Limitations
by Dave Horwedel, EA YES! There is one. There is a point beyond which IRS can no longer collect on a prior tax debt. To find out more about this, click the video below. Torchlight Tax Winning 1.8 Million Dollar Case OK. I am jumping the gun here. But I was so happy that I […]
Tax Blog
What to Do if You get a Letter from the IRS
by Dave Horwedel, EA First, do not panic. Yes, it can be upsetting to receive a notice from the IRS. But the first step is to not panic and calmly read the notice or letter. The notice or letter states the reason it was sent, its purpose, and instructions on how to respond. In the […]
Tax Blog
How to File an Amended Tax Return
by Dave Horwedel, EA Of course we all want the original return to be perfect. But sometimes you receive data that changes the return after you have filed. Maybe you made a mistake. Maybe your tax preparer did. Maybe you falsely reported income on your return, and realize you could be caught. What do you […]
Tax Blog
Start Planning Now for Next Year’s Taxes
by Dave Horwedel, EA You may be tempted to forget about your taxes once you’ve filed your tax return, but if you start your tax planning now, you may be able to set yourself up for a big savings next year! Here are six tips to save you time and money on next year’s taxes: […]
Tax Blog
How to File Overdue Returns Without Raising a Red Flag
by Dave Horwedel I have heard many taxpayers or potential taxpayers say something like “I don’t want to raise any red flags by filing my late taxes” or “I want to stay under the radar”. With a healthy fear of the IRS and the inability to pay their tax debt, this seems to many to […]
Tax Blog