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The IRS has recently introduced a penalty relief initiative to assist around 4.7 million individuals, businesses, and tax-exempt organizations who missed automated collection reminder notices during the pandemic. Valued at about $1 billion, this initiative targets those with assessed tax under $100,000, with most beneficiaries earning less than $400,000 annually. Understanding the IRS Penalty Relief …

IRS Offers Financial Help for 4.7 Million Taxpayers Read More »

In order to save employees from unforeseen financial challenges, the Internal Revenue Service (IRS) recently issued initial guidance on Pension-Linked Emergency Savings Accounts (PLESAs). As part of the SECURE 2.0 Act of 2022, PLESAs offer a strategic approach to financial preparedness, and Crystal Clear Tax is here to guide you through the intricacies of this …

IRS Takes the Lead in Directing Employers on Emergency Savings Accounts Implementation Read More »

In the tax resolution world, the Offer in Compromise (OIC) is like a helping hand for people dealing with big tax bills. But, the 36% acceptance rate can make tax professionals worry. They often ask, “Will my client’s OIC actually get accepted?” Here at Crystal Clear Tax, we make understanding OICs easy. We explain how …

Offer in Compromise (OIC) Success Blueprint: Crystal Clear Tax’s Guide to IRS Approval Read More »

As the calendar turns towards tax season, it’s time for employers and independent contractors to heed the reminders from the IRS. The key date to mark on your calendar is January 31 – the deadline for submitting crucial wage statements and forms for independent contractors. W-2s and 1099s: The January 31 Deadline Employers must ensure …

Mastering Tax Season: Essential Tips for Employers and Independent Contractors Read More »

Are you a CPA or a tax professional looking to take your career to the next level? The world of IRS tax resolution services and the coveted title of Enrolled Agent (EA) might be the perfect next step for you. At Crystal Clear Tax, we’re here to provide you with a comprehensive guide to becoming …

Your Roadmap to Success: A Practical Guide to Becoming an Enrolled Agent Read More »