Tax amnesty programs are special, time-limited initiatives offered by governments—both federal and state—that give taxpayers the opportunity to settle their outstanding tax liabilities with significant benefits. These programs are designed to encourage voluntary tax compliance. They do this by offering incentives like reduced penalties, interest waivers, or sometimes even immunity from prosecution. Here’s a closer […]
Articles by Elyssa Carlos
Tax Checklist for Starting a Business
Starting a business can be an exciting yet challenging endeavor. While the focus is often on building a product or service and attracting customers, understanding and managing your tax responsibilities is crucial to ensuring your business’s financial health. Here’s a thorough tax checklist for starting a business to help guide you through the process. Select […]
What is a Cafeteria Plan?
A cafeteria plan, also known as a Section 125 plan, is an employee benefit program that allows workers to choose from a variety of pre-tax benefit options. The name comes from the idea of a “cafeteria” where you can pick and choose what suits you best. They offer flexibility in creating a benefits package tailored […]
Can I Buy a House if I Owe Back Taxes?
Buying a house is an exciting milestone in life, representing stability, investment, and the fulfillment of a dream. However, for individuals who owe back taxes, the path to homeownership can seem uncertain. It’s essential to understand the implications and challenges associated with buying a house while having outstanding tax debt. In this article, we will […]
What if I Miss a Tax Deadline? IRS Penalties and Interest?
Filing your tax return late, or not filing at all, can result in IRS penalties and interest in addition to your unpaid tax burden. CEO David King and Lead Tax Attorney Philip Hwang provide helpful insight on important tax deadlines you should know about – and how you can resolve your tax liability with the […]