Monday, March 31, 2014

How Your Income Taxes Are Being Spent

According to a source at only 1 in 5 American’s know how thier income taxes are being spent.  I also had a client inquire about how his income taxes were being spent. The article in the Denver Business Journal by Heather Draper ( for the week of March 28th – April 3rd (Page A-10) received over the weekend came at a great time.... read more below.

Wednesday, March 26, 2014

IRS Extends Deadline For Deducting Colorado Disaster-Related Losses

Notice 2014-20, 2014-15 IRB, IR 2014-35
In a Notice, IRS has given Colorado flood victims an extension until Oct. 15, 2014 to decide whether to claim disaster losses arising from last September’s flooding on either their 2012 or 2013 returns. Without this extension, these taxpayers would have had to make this decision by the original due date for their 2013 return (typically April 15). . .

Wednesday, March 19, 2014

Midweek Testimonial!

I contacted Mike Wallen from Highland Tax Resolution as a referral form a friend to help with our Federal IRS issues. We had tried to handle the issue ourselves and after countless hours on the phone, we had gotten nowhere, and they were threatening to seize funds from our bank account....

Monday, March 17, 2014

IRS Interest Rates Stick for 2nd Qtr 2014

Overpayment and underpayment rates remain the same for the second quarter of 2014

Rev Rul 2014-11, 2014-14 IRB; IR 2014-29

IRS has announced that the interest rates for tax overpayments and underpayments for the calendar quarter beginning Apr. 1, 2014, will remain the same as for the first quarter of on here...

Tuesday, March 11, 2014

7 Steps to Initiating an IRS Installment Agreement

Today we are writing about the IRS installment agreement process and how it can help you as it relates to your IRS tax liability.  First and foremost, there are various types of payment plans available to fit your needs. Secondly, depending on what you may owe the IRS, either for your business or you personally, will greatly affect which type of plan we can set you or your business up with.  A few details about the payment plan process you may not be aware of . . . read more here