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.
Navigating the Rising Tide of ERC Audits: Safeguarding Your Business with Expert Guidance
The IRS has announced its plan to audit a large number of Employee Retention Credit (ERC) claims that officials believe may be fraudulent, and many business owners have already been targeted for ERC audits. Officials have warned multiple times about third-party tax credit specialists improperly…
Clarifying Misconceptions about Tax Relief: A Guide for Small Businesses and the Employee Retention Credit
The wake of the pandemic saw many businesses mistakenly claim tax relief benefits, largely due to misinformation, according to National Taxpayer Advocate, Erin Collins. This specifically pertains to the Employee Retention Credit (ERC), a measure introduced to help small businesses during the…
Importance of Resolving Tax Debt for Passport Retention
Are you aware that unresolved tax debt can lead to the revocation or denial of your passport? According to U.S. regulations, the State Department has the authority to revoke or refuse to issue passports to individuals who owe federal tax debts of $59,000 or more, given a tax lien or levy has…
Supreme Court Decision: IRS Can Summon Bank Records Without Third-Party Notifications
In the recent Polselli v. Internal Revenue Service case, the Supreme Court declared that the IRS is not required to notify third parties when summoning banking records in tax collection scenarios. The case revolves around taxpayer Remo Polselli, who accumulated over $2 million in federal tax debt…
IRS Unveils Detailed Strategy for Allocating $80 Billion in Additional Resources
In an extensive report submitted to the Secretary of the Treasury, the Internal Revenue Service (IRS) has presented its strategic operating plan for the upcoming decade. This plan details how the agency intends to utilize the extra $80 billion in funding it recently received to improve customer…