Bob Jablonsky's (bob_jablonsky) Blog

We are seeing a lot of taxpayers being assessed IRS penalties due to Late Filing and Late Payment of Taxes.  Taxpayers often want to reduce or remove these penalties but don't know what steps to take.  The two main methods are using the First Time Abatement (FTA) or Reasonable Cause Options.  In ...

As a small business owner, have you considered hiring your children?  If not, perhaps that is something you should consider.  Hiring your children can help in a number of ways, including helping you to free your time for more important activities, giving your children an opportunity to gain valua...

When you owe the IRS, you’ll receive a number of notices.  Each of these notices provides you with information including where you are at in the collection process, the risks you face, but also some include opportunities and rights that give you an opportunity to resolve your IRS problem more eff...

Has your friend, neighbor or colleague told you that if you take the home office deduction, it will be a “red flag” to the IRS that will trigger an audit? Well, that is just not true!  In order to claim the home office deduction, you MUST QUALIFY, but if you do qualify, there is no reason not to ...

Small Business Owners – Hire Your Children - Cut Your Taxes!  As a small business owner, have you considered hiring your children?  If not, perhaps that is something you should consider.  Hiring your children can help in a number of ways, including helping you to free your time for more important...

What To Do If You Receive the Final Notice of Intent to Levy From the IRS?  I’m continuing to meet with more clients who have felt the IRS step up collections over the past few months.  A few months ago, we were seeing the IRS sending the CP504 notice.  That notice gives the IRS the ability to fi...

Unfortunately, real estate agents and other small business owner’s and independent contractors sometimes find themselves in a situation where they owe the IRS.  This can be a result of not making estimated tax payments timely or as the result of an unfavorable audit.  Whatever the reason, you sho...

In a previous blog, I mentioned that as a Real Estate Professional, you file Schedule C, the Tax Form that is the form most audited by the IRS.  The IRS has found that Schedule C’s contain a large number of errors compared to other forms and finds that they are very successful with audit changes ...

Many taxpayers who owe the IRS believe that they will owe the government forever.  However, that’s not true.  The IRS only has 10 years to collect a tax debt once the tax is assessed, assuming that there are no actions taken by the taxpayer to stop collections.  It is also known as the Collection...

As a Real Estate Professional, did you realize that you are required to complete a Tax Form  that is the form most audited by the IRS?  That’s right, as independent contractors, most Real Estate Agents file a Form Schedule C.  The IRS has found that Schedule C’s contain a large number of errors c...