Posts by Traxion Tax
Can You Negotiate a Settlement with the IRS?
If you owe money to the IRS, you may be interested in negotiating a smaller payment. This can help save you money as you resolve the debt. In this article, we’re taking a look at one of the most common questions we receive – can you negotiate a settlement with the IRS? Can You Negotiate…
Read MoreThe Traxion Tax Guide to the Paycheck Protection Program (PPP)
What is the Paycheck Protection Program (PPP)? The Paycheck Protection Program (PPP) is a loan plan from the CARES (Coronavirus Aid, Relief, and Economic Security Act). It is an approximately $350 billion initiative aimed to offer eight weeks of cash-flow aid to American small businesses via 100 percent loans backed by the federal government. The…
Read MoreThe Traxion Tax Quick Guide to Help You Get Your Stimulus Payment
The CARES Act, the biggest disaster assistance program in U.S. history with an unparalleled $2 trillion recovery plan, should bring relief to people, companies, and sectors who have been struggling hard during the coronavirus crisis in the last few weeks. We will address the most popular concerns to help you fully grasp the stimulus payments.…
Read MoreWhat’s Involved With an IRS Offer in Compromise
An IRS Offer in Compromise Each year, nearly one out of every four Americans owes the government federal income taxes. For many of this 25%, the amount owed is overwhelming. They aren’t sure how they’ll be able to pay the debt. Fortunately, the IRS has programs in place to help citizens square up and pay…
Read MoreWhat to Know About IRS Collection Notices
What to Know about Collection Notices A common misconception about the IRS is that it’s this soul-less behemoth of a government agency that is out to get you with unrelenting phone calls and unexpected home visits. That visual is one for the big screen only. It’s not realistic! Really, the IRS intends to work with…
Read MoreDo I Qualify for the IRS Fresh Start Initiative?
Do I Qualify Do I Qualify for the IRS Fresh Start Initiative? A nightmare scenario for many small business owners and individuals starts with getting bad news from the IRS. Uncle Sam gives you a call or shows up at your door expecting immediate payment of back taxes…or else he cuffs you and takes you…
Read MoreWhy Am I Being Audited?
First off, don’t panic if you learn you’re being audited by the Internal Revenue Service! TV and the movies make a federal tax audit seem more common and serious than they often are. An IRS tax audit is something that happens all the time, and it doesn’t mean you or your business are in any…
Read MoreTax Relief Scams
How to Avoid a Tax Relief Scam With some products and services, you can never be too careful. Take a used car for example – you wouldn’t trust a salesman’s word that the car he’s selling you will last another 100k miles. You’d probably take it to your mechanic and ask lots of questions before…
Read More4 Reasons Why Tax Education Is Important for Business
Why is it so important? We’re going to level with you here: no one likes paying taxes. Taxes are unavoidable for every American, and understanding them is a very important part of running a business. Having the right approach to your business taxes could be the difference between success and failure for a new or…
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