Jim Payne's Tax Blog in Gainesville, FL

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Scenario – You need to make payroll this week, but you don’t have the cash. So, you go to Mom for a loan. She wants to help, but there are limits to her willingness. The result is that she writes ...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Scenario - Your business has fallen behind on paying the payroll taxes because of cash flow. You can borrow some money personally to pay part of the past due, but not enough to full pay. How shoul...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Coronavirus shutdown is going to put a lot of business owners in a bind of monumental proportions. Many of them are striving to keep their employees on even though their revenues are substantially...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The IRS has issued a notice that rains upon the PPP parade. The CARES Act sounded like a great thing to keep many small businesses in operations while everybody sheltered at home. Loans at 2.5 times m...