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Posted by: Charles P Myrick CPA Posted on: Jul 07 2022

An Upsurge in Erroneous IRS Balance Due Notifications?

Tax professionals across the country recently reported a surge in mistaken IRS balance due notices, as well as cases of failures to post payments made to taxpayer's accounts. The IRS is currently studying how widespread these cases are and the best options to address them. Here's what you can do if you've received one.

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Posted by: Charles P Myrick CPA Posted on: Jun 09 2022

Do You Need Help Dealing With an Overdue Tax Bill?

Don't spend time worrying about overdue taxes. Instead, take action. Do you owe less than $10,000? If so, your best bet might be to read about your options below. But if your tax bill is larger, for example, more than $10,000, then that is the time to contact us. We're specialists in tax resolution. We can explore if you qualify for options such as debt forgiveness and can even lift the burden off you of dealing with the IRS to negotiate a solution on your behalf.

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Posted by: Myrick CPA Posted on: May 26 2022

Wondering Where Your Tax Refund Is?

We are now almost six weeks from the tax filing date of April 18, and some of you might be wondering where your tax refunds are. Here are some helpful suggestions about how to check on your refund.

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Posted by: Charles P Myrick CPA Posted on: Apr 28 2022

Why Should I Have Life Insurance? Do I Really Need It?

When you're starting out - new careers, new location, new relationships - you probably get lots of advice about planning for your future. Sure, you're fully engaged in budgeting your income and thinking about lifestyle priorities. Still, it's a good idea to start working with a financial advisor to develop your long-term financial plan.

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Posted by: Charles P Myrick CPA Posted on: Apr 21 2022

Is Your Overdue Tax Bill Keeping You Awake at Night?

Perhaps you’ve received a letter from the IRS recently and have been informed that they’re beginning the collection process of delinquent tax liability debts and that you are one of those debtors. On the other hand, perhaps you haven’t gotten a letter, but anticipate getting one soon, now that the IRS has resumed collections after the COVID-related pause of last year. Remember, they can go back for ten years to collect from past-due income tax filings. Knowing that you owe a large sum of delinquent back taxes without realizing precisely what can or will happen next could be keeping you up at night. 

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Posted by: Charles P Myrick CPA Posted on: Apr 14 2022

Tax Planning: Skipping This Leaves Money on the Table

Three kinds of business owners are doing their taxes incorrectly: those waiting for a refund, those dreading owing as much as the year prior, and those who have no clue what their taxes will look like once the dust settles. If your taxes are anything other than zero, it is time to sit down with a Certified Professional Accountant (CPA) and start tax planning next year.

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Posted by: Charles P Myrick CPA Posted on: Apr 07 2022

How the Employee Retention Credit Affects 2021 Business Filing

The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law in March 2020 as part of the US government’s response to the economic repercussions of the COVID-19 pandemic. A provision in that bill known as the Employee Retention Credit may reduce the tax liability of qualifying employers. The good news is that the American Rescue Plan Act of March 2021amended the CARES act to make the tax credit even more generous.

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Posted by: Myrick CPA Posted on: Mar 24 2022

Why You Should File Electronically As Soon As Possible

COVID-19 and the resulting shutdown in 2020 disrupted nearly everything in our society and almost every business and institution. Many are still dealing with the repercussions, whether involving supply chain issues or employee shortages. One of those institutions greatly impacted by the pandemic is the IRS.

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Posted by: Myrick CPA Posted on: Feb 10 2022

Problem Tax Cases Call for a Tax Resolution Specialist

Charles Myrick, a Certified Public Accountant, has more than two decades of experience representing taxpayers with the IRS. He is highly knowledgeable and experienced in what is known as tax resolution the specialty of advising, representing, and negotiating with the IRS on behalf of taxpayers in problem tax cases. He and his staff feel a real sense of satisfaction from solving difficult problem tax cases and removing the giant weight off a client’s shoulders that comes from stressful interactions with tax authorities.

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Posted by: Charles P Myrick CPA Posted on: Jan 25 2022

Look for the Tax Advantages in Your 2021 Return

The IRS opened the tax season this year — or began to receive taxpayers’ filings —  yesterday on January 24, 2022. As you begin preparing for your 2021 tax filing, consider taking advantage of the provisions below if you haven’t already. You can ask us at Myrick CPA or your own tax consultant for details to help you find the best tax advantages available to you.

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