Accounting Firm

Introduction The IRS is ramping up enforcement efforts in 2025 with new technologies, tighter compliance rules, and increased funding. As a result, many taxpayers—individuals and small business owners alike—are finding themselves entangled in unexpected tax issues. Whether it's a delayed refund, a surprise notice, or growing tax debt, these problems can feel overwhelming. The good news? Most IRS-related issues have clear, actionable solutions. In this blog, we break down the seven most common IRS tax problems Americans are facing right now and how to fix them—before they become bigger headaches. Unfiled Tax Returns Failing to file your taxes, even for a single year, can trigger a cascade of problems with the IRS. Unfiled returns may result in penalties, interest, and the IRS filing a Substitute for Return (SFR) on your behalf, often without deductions or credits you're entitled to. This can inflate your tax bill significantly. How to resolve it: File your missing returns...

A change in your business structure can be a tax reduction strategy, gain additional legal protection, or even position yourself for expansion. However, if you do not plan, it may result in unbudgeted expenses, taxes, and legal issues. This guide will guide you through making a seamless shift while protecting your funds. Why Businesses Change Their Entity Structure Companies tend to switch their company type to adjust to new objectives, financial circumstances, or legal issues. A sole proprietorship can switch to an LLC to have liability protection, and an LLC can switch to an S-Corp to have tax advantages. Moreover, expanding companies may switch to a C-Corporation to have investors. All structures have distinct benefits and disadvantages, so it is important to consider your motivations thoroughly before making the transition. Knowing the Monetary Consequences of Changing Business Entities Shifting your business entity can affect your taxes, accounting, and personal liability. Cer...