An offer in compromise (OIC) is a deal between a California taxpayer and the Internal Revenue Service (IRS) or the Franchise Tax Board (FTB) to pay off a tax debt for less than the full amount. The agreement will not be accepted automatically, as the taxpayer must meet specific requirements when applying for an OIC. These eligibility requirements vary depending on whether the taxpayer is applying to the IRS or the FTB, his or her financial circumstances, and other factors. Th

If you need to report income that was not derived from your place of employment, you need to use a 1099-MISC form. Some employers might fail to issue a 1099-MISC even if it was necessary to issue the form. Do not assume that you do not have to file a 1099-MISC. If your employer did not issue you a 1099-MISC, you should consult with an experienced Roseville tax return attorney today. The NewPoint Law Group, LLP understands the complexity of IRS tax rules and is prepared to hel

With some exceptions, U.S. citizens must generally file tax returns – and pay taxes. Nevertheless, sometimes through no fault of your own, you may be unable to pay the taxes owed. An unexpected accident, loss of a job, or an illness can place an individual under heavy financial duress. If you are facing financial difficulties and owe unpaid tax debts to the Internal Revenue Service (IRS), there may be options available to reduce what you owe or make payments more manageable.

For employers in California, failing to report income that was earned under the table could result in serious penalties. Some employers may believe that since income was earned in cash or in a form that cannot be readily tracked that would exempt them from paying taxes, it does not. If you are an employer in California and want to learn about the tax implications of under the table income, you should consult with an experienced Roseville tax return planning lawyer. The NewPoi

The individual tax burden can be overwhelming. Are you at a point in your life or career where federal and state income taxes are scaring you? Perhaps you can’t see a way to catch up. Has the IRS placed a lien on your property or is your paycheck being garnished? You may be receiving threatening IRS or state notices daily. This can be both frightening and confusing. A Roseville and Sacramento tax attorney experienced with IRS and state tax procedures can help you navigate com

Millions of Americans have strayed from professional tax services and begun preparing their own tax returns. Taxpayers are turning more and more frequently to online software like TurboTax, TaxAct, and TaxSlayer, often to avoid the expense or hassle of hiring a certified public accountant. These services are quick, easy to use, and totally safe—or so they say. Taxpayers should keep in mind that tax season is one of the most popular times for people to fall victim to scams. As

Owning and operating a business is both rewarding and time-consuming. This especially rings true when hiring and managing employees. In California, every employee comes with tax obligations. Knowing how to appropriately handle these obligations is an essential piece of being a business owner. If you need assistance managing payroll taxes, you should speak with an experienced Roseville small business tax lawyers. The tax lawyers at the NewPoint Law Group, LLP are available to

In law, the “statute of limitations” is the deadline for bringing a claim or case. If a creditor wishes to sue a debtor in order to collect a debt, such as a medical bill resulting from a surgery or hospital visit, the creditor must sue before the statute of limitations runs out of time. If the creditor misses the deadline and the statute of limitations expires, the claim will be time-barred, which means the creditor will be unable to file a lawsuit. However, waiting for the

As a landlord, it can be frustrating to balance a budget with an apartment or commercial property that is only partially full, and finding replacement tenants for tenants who break their lease can be a slow process. If you own a commercial property, an apartment building, or another property management company, it is very important to understand when your tenants can legally break their leases, and what options you have when they break a lease. For a free consultation on your

For those unfamiliar with accountancy, taxation, and the law, there is often a bit of confusion when considering who to go to with financial or tax problems. In many cases, the roles these individuals can play overlap – but in many areas, these professionals have distinct roles. In some cases, there may even be clear factors that, if you were unaware of them, could cause you serious problems. The Roseville, CA tax lawyers at The NewPoint Law Group, LLP explain some of the dif

When you take a job, especially a job as a household employee, it may not be clear whether you are an “employee” or an “independent contractor.” An employee usually has taxes withheld by their employer, receives a regular paycheck, and gets a W-2 at the end of the tax year. An independent contractor is like a one-person business, and is paid based on contracted work, receiving a 1099 at the end of tax season. However, there are situations where being an employee instead of an

You can face many burdens when trying to file your tax returns. Events may occur in your life that are unpredictable and that further strain your ability to file on time. Fortunately, your ability to receive a tax refund is not eliminated if you file a late tax late in 2018. If you need advice concerning a late tax filing, you should speak with an experienced Roseville tax attorney. The NewPoint Law Group, LLP is here to discuss how to receive a tax return if you file your ta

Filing your taxes can be a complicated process. There are all kinds of laws and tax forms you need to be aware of as a taxpayer to make the most out of your filing. Sometimes dealing with all those documents can be stressful and you may need to file an extension. Of course, there are also other reasons to file an extension. If you need to make a late tax filing in California, you should speak to a Roseville tax lawyer immediately. The attorneys of NewPoint Law Group, LLP are

As summer comes to a close, we are quickly reminded that there is not much time left in the calendar year, and that tax season may be upon us sooner than we expect. Now is as good a time as any to start thinking about your taxes, planning when you will do them, and learning about what you need to successfully file your federal and state taxes in California. To help ensure your taxes are correct and accurate, consider some of these common mistakes people make when filing their

Owning and operating a small business is a demanding task. Not only are you expected to understand payroll, staffing, operating costs, and business strategy, but every Spring you also need to understand your company’s tax situation. Filing business taxes and understanding the tax consequences of running your business is often one of the more difficult tasks running a small business demands. For help with your small business taxes, contact the NewPoint Group. Our Roseville, CA

When the government comes across new technologies and ways of doing business, it often doesn’t know how to fit these new things into existing law. With Bitcoin and other cryptocurrencies, the government is still working to catch up. For now, crypto coins are treated as property – but their sale or transfer may still trigger profits. Profits like these mean taxes – and avoiding paying those taxes can mean serious criminal charges. While the government may not be sure how to ha

If you didn’t file taxes for a previous year, file them now. Unfiled taxes can mean serious penalties, which stack up over time. Even if it’s been a few years, there is still a chance that the unfiled taxes could mean penalties or even criminal charges for willful failure to file. If you are behind on your taxes, talk to a Roseville tax attorney to see what you can do to repair your tax situation and get your taxes paid. The Roseville tax attorneys at NewPoint Law Group, LLP

2018 is practically upon us, and even though the deadline to file your tax returns for the 2017 tax year isn’t until Tuesday, April 17, you may be anxious to get your taxes done and get your tax refund. The IRS has not announced the first day it will accept tax returns, but it’s never too early to start thinking about your tax returns, gathering materials, or even putting together your paperwork. If you need help with your tax planning or filing, now is the time to contact a

Some of the worst issues for landlords and property management companies are managing disputes between tenants and their neighbors, or even between roommates in the same unit. While this seems like the job of a camp counselor or a dorm room RA, it often does become a legal issue that can bog-down your apartment building or commercial property operations. Our Roseville business lawyers and landlord-tenant lawyers at the NewPoint Law Group, LLP can help you understand your resp

Claiming the proper deductions and credits can be an overwhelming process for taxpayers. With new case law constantly being decided by the Tax Court and the IRS, it can be especially difficult to keep up with new regulations. A recent case involving estate tax and charitable deductions, Fakiris v. Commissioner, reached an important holding in the area of estate tax. Decided June 28, 2017, the case explores the issue of whether a gift is complete or not during a person’s life.

If you are married or recently divorced, separated, or widowed, you may have filed taxes jointly with your spouse. This can give you many benefits and deductions you can’t access filing as an individual, but it can also set you up for potential issues. If you filed jointly, you are jointly responsible for the taxes alongside your spouse. This means that, even if only one of you earned the income, the IRS can go after either one of you for payment. Luckily, spouses that were p

Few Californians look forward to Tax Day. However, the reputation of Tax Day as a day of financial reckoning is perhaps undeserved. While it is true that you can discover large, unexpected tax obligations on Tax Day, most people will become aware of a large tax liability either prior to tax day or months thereafter when the IRS sends a letter or notice. While there are tax bills that may “break the bank,” most people have a significantly different experience. Unfortunately, t

In California, there are an array of state tax agencies and state taxes. Among those taxes are two parallel tax obligations: franchise tax and income taxes. From these two parallel obligations, businesses will owe one or the other, but not both. Generally, businesses located in or doing business in California are subject to the franchise tax. Businesses with income from sources located in California but not necessarily actively engaged in business in the state are typically s

The last few days of 2016, many Californians enjoyed spending quality time with family, friends, and other loved ones. However, while those final days were for reflection and reminiscing, the turn of the calendar means that it’s time to turn our attention to the future, and to assess and account for any and all 2016 tax obligations which must be reported in in the new year. If you have yet to consider your tax obligations and other offshore reporting duties, it is wise to do