First, in an effort to protect both their employees and the public, the IRS announced that it would be limiting all in-person contact. For taxpayers who owe a delinquent liability, this means there is less likely to be a knock at the door from the IRS. That is likely a big relief to many since the IRS announced prior to…
Professional But Personal Legal Services To Give You Peace Of Mind In Your Business And Tax Matters
Month: March 2020
Settling Your IRS Debt
This is the first in what I intend to be a series on the different options to resolve your tax liabilities. The Offer in Compromise program through the IRS is the most desired resolution option for back tax liabilities. However, the IRS Offer in Compromise program is not a “let’s make a deal” program similar to negotiating the price of…
City of Chicago, State of Illinois and Federal Government Trying to Help Businesses During Pandemic
Illinois Department of Revenue is waiving penalties and interest that would have been imposed for late Sales Tax payments for businesses that are designated as eating and drinking establishments that incurred a Sales Tax liability of less than $75,000 in 2019. Currently, this applies to Sales Tax payments due in February, March or April 2020. The Department of Revenue will…