Propono Tax Blog
Your Go-To Resource For All Things Tax
When we’re not busy resolving tax problems, we’re tirelessly learning everything we can about tax resolution. From the latest tax news, tips, to how-to’s, we’ve got all the resources you need to support you during your tax troubles.
Understanding IRS Notice CP2000: Steps to Take and Avoid Common Mistakes
Receiving an IRS Notice CP2000 can be a stressful experience for any taxpayer. This notice indicates that the income or payment information the IRS has on file does not match the information reported on your tax return. While it’s not a formal audit, it’s crucial to address it promptly…
The Benefits of Hiring a Professional Tax Accountant for Your Tax Liability
If you owe the IRS more than $25,000, you’re likely feeling the weight of this financial burden. Both individuals and business owners can find themselves in challenging situations when tax liabilities reach significant amounts. The complexities of tax laws and the fear of IRS actions can be…
Dealing with IRS Wage Garnishments
Dealing with IRS collections can be daunting, especially when faced with the prospect of a wage garnishment. The complexity of tax law combined with the financial strain of having your paycheck reduced can feel overwhelming. However, understanding your options and taking proactive steps…
Maine Tax Relief for Severe Weather
In December 2023, Maine faced the brunt of severe weather conditions that left a trail of destruction in its wake. From power outages to flooding and significant damage, the central and western regions of the state bore the impact of these natural disasters. In response to the crisis, President Joe…
IRS Announces Key Updates and Relief Measures
Tax Filing Commences for 2023 Earnings The Internal Revenue Service (IRS) has announced that taxpayers can start filing their taxes on 2023 earnings from January 29, 2024. This marks the official commencement of the 2024 tax season, signaling the need for taxpayers to prepare their documents and…
5 Common Triggers for Small Business IRS Audits: How to Stay Prepared
IRS audits can be a source of anxiety for both individual taxpayers and small business owners. In recent years, the IRS has increased its focus on auditing small and medium-sized businesses, especially those with relatively low annual revenue. While there's no foolproof way to avoid an audit, being…