Allan Rolnick's (taxcoach) Blog

If you owe the IRS and can’t pay your tax debt all at once, there is a solution that can help you manage payments over time. This option is called an Installment Agreement, and it provides taxpayers a structured way to resolve their debt without risking aggressive collection actions. Let’s explor...

  Allan Rolnick Tax Accountant | Tax Advisory, Tax Planning, Tax Resolution Tax Audit Representation November 5, 2024 Receiving a notice from the IRS can be unsettling. Whether it's about unpaid taxes, an audit, or missing information, it’s a letter that nobody wants. However, ignoring the notice...

 What is an Offer in Compromise (OIC) and Who Can Qualify?Allan RolnickOctober 25, 2024 If you owe the IRS more than you can afford to pay, there may be a way to settle your tax debt for less than the full amount owed. This option is called an Offer in Compromise (OIC), and it can provide a fresh...

The 3 Worst Things You Can Do if You Owe the IRS Allan RolnickTax Accountant | Tax Advisory, Tax Planning, Tax ResolutionOctober 23, 2024Owing money to the IRS is stressful, and it’s easy to panic or make the wrong moves. Unfortunately, some actions (or inactions) can make the situation much wors...

A Partial Payment Installment Agreement (PPIA) is a payment plan offered by the IRS that allows taxpayers to pay off their tax debt in smaller, more manageable amounts over time. Unlike a standard installment agreement, where you pay the full amount owed, a PPIA allows you to settle your debt for...

4th Quarter Tax Play: Are You Ready? 🏈Ah, New York football fans… it’s been a rough season so far, hasn’t it? Our NYC teams might be losing ground, but luckily, there’s still hope upstate. Speaking of 4th quarters, we’re in the final quarter of the tax year too—and just like football, this is whe...

Has an IRS letter been keeping you up at night?If so, you're in the right place. I understand how stressful and intimidating those letters can be, but with my help, you can breathe easier and get back to a good night's sleep.I host a live Q&A every Monday at 11:00 AM ET where you can ask your que...

“No one will find out.”It's a common thought many business owners or side hustlers have when it comes to skipping taxes, but here's the reality: someone always finds out.Maybe it's a friend who talks a little too much, or perhaps it's an employee who unintentionally reveals something they shouldn...

🏈 How the Giants’ Comeback Can Inspire Your Tax PlanThis past Sunday, the New York Giants won a big game—yes! But it didn’t start off great. On the very first kickoff, the return runner fumbled and lost the ball, and the Browns scored a touchdown right after. It seemed like another loss was on th...

This morning, as I went to feed my bird, Cleo, he was sitting at the bottom of his cage like he usually does. But today, the moment I opened the door, he ran over to me like he hadn’t eaten in days! It made me think, How great would it be if real estate agents and mortgage brokers came to me with...