CLOSING A CORPORATION WITHOUT CREATING TAX PROBLEMS
Closing a corporation often represents the end of a business’ journey. The corporation has ceased operations, and the owners are ready to move on to their next venture. Unfortunately, many business owners assume that ending the legal existence of a corporation automatically resolves its federal tax obligations. It does not. The Internal Revenue Code treats […]
Virginia Expands RetirePath: What Small Business Owners Need to Know Before July 1, 2026
If you own a small business in Virginia, RetirePath Virginia has an important compliance change taking effect on July 1, 2026, that may impact your company even if you have never offered retirement benefits before. Virginia recently enacted legislation expanding the RetirePath Virginia retirement savings program. Under the new law, the participation threshold drops from […]
Offer in Compromise vs Installment Agreement: How Virginia Taxpayers Should Decide
When you owe the IRS, the question isn’t IF you should resolve it. The question is how. For Virginia small business owners and high-income self-employed taxpayers, the most common decision is: Offer in Compromise vs Installment Agreement — which one actually makes sense? At ETS Tax Relief, we work with Richmond and Virginia taxpayers who […]
IRS Compliance Rules That Can Void Tax Relief
One of the most common misunderstandings taxpayers have is that IRS compliance rules can void tax relief. Taxpayer’s believe: “I filed my returns, so I should be compliant now.” That’s not always accurate. In the eyes of the Internal Revenue Service (IRS), filing is only one part of compliance. Filing alone does not protect taxpayers […]
Substitute for Return (SFR): The IRS is Usually Wrong
The IRS ‘filing a return for you’, called a Substitute for Return (SFR) sounds like a convenience, but it really isn’t. If you haven’t filed a tax return, the Internal Revenue Service (IRS) may eventually file one for you. It is almost never in your favor. Many taxpayers assume an SFR means the IRS has […]
IRS Tax Relief Eligibility: Compliance Issues That Block Relief
Most taxpayers researching IRS tax relief eligibility make the same assumption: that owing a large balance automatically makes them eligible for settlement programs, penalty abatement, or payment reductions. They believe the amount they owe is what determines whether the IRS will negotiate. It doesn’t. The IRS doesn’t evaluate tax relief eligibility based primarily on how […]
IRS Notices Explained: Which Letters You Can’t Ignore
Getting IRS notices in the mail is unsettling. We get it. However, not every IRS notice means enforcement is imminent. The problem is that many taxpayers don’t open IRS letters. Taxpayers also don’t know which notices matter, which ones require action, and which ones signal that collection is about to escalate. At ETS Tax Relief, […]
IRS Bank Levy: When the IRS Freezes and Takes Your Money in Virginia
If you’ve logged into your bank account and found funds frozen or missing, you may be dealing with an IRS bank levy. That’s exactly how my first IRS Bank Levy client saw it happen. She called me. “The IRS just took my money all of a sudden”, she said. “How could they do this??” “Is […]
IRS Wage Garnishment: How It Works and How to Stop It in Virginia
If the IRS has taken money out of your paycheck, you’re no longer in the warning stage of tax collection. The IRS is in enforcement mode! At ETS Tax Relief, we work with Virginia taxpayers who are shocked to discover that IRS wage garnishment is far more aggressive than most people expect. Unlike other creditors, […]
IRS Payment Plan Default: Why Installment Agreements Fail
If you currently have an IRS payment plan, you might feel a sense of relief heading into the new year. The returns are filed. The balance is acknowledged. You’ve been consistent making the monthly payments. You think: I’m good. But every January, we see the same shock an awe. Taxpayers find out their IRS payment […]