Ralph Nelson's Blog

If you haven’t, don’t worry – it’s a fairly new concept that’s been gaining popularity in recent years. A digital nomad is someone who works remotely and is not tied down to a physical location. This means they can work from anywhere with an internet connection, whether it be a coffee shop, a co-...

One of the biggest mistakes taxpayers make is failing to pay their back taxes. This is a common problem for many Americans, especially those who are self-employed or have multiple sources of income. When you owe back taxes, it can be tempting to ignore the problem and hope it goes away, but this ...

As the popularity of cryptocurrencies continues to grow, so does the scrutiny from government agencies like the Internal Revenue Service (IRS). The IRS has been working hard to ensure that taxpayers who invest in cryptocurrency are properly reporting their gains and losses on their tax returns. I...

As someone struggling with tax resolution, finding the right tax professional to help you with your situation can be challenging. With a lot of confusing information and false promises out there, how can you be sure you're hiring a qualified and reliable tax resolution specialist? If you're looki...

For honest taxpayers, receiving a letter from the IRS can be extremely daunting. Unlike most other government agencies, the IRS has the power to attack your wages, freeze your bank account, and even confiscate your property, which is enough to send shivers down any taxpayer's spine. However, if y...

Tax filing season is here again, and millions of hardworking Americans are already dreaming of those big refund checks. Unfortunately, many of them may be disappointed this year. Taxes can be a complicated and often stressful aspect of personal finance. Nobody wants to be caught off guard with an...

By Ralph Nelson, EA, Kenny Kim, EA, MDYou are not alone. Hundreds of thousands of taxpayers get audited every single year.While getting the audit letter often causes people to panic, in reality, 70 percent of audits are just a letter asking for more information on your tax returns, and you're ask...

By Ralph Nelson, EA, Kenny Kim, EA, MDAn Offer-in-Compromise (OIC) might be an excellent alternative to paying off your income tax debt for less than the amount owed if the taxpayer has a financial problem that prevents them from paying it in full. While the OIC is an excellent method to solve on...

Have you missed the payment deadline and have interest and penalty charges tacked on? It might be a nightmare, especially if your budget is tight. Fortunately, there are instances when penalties may be reduced or altogether eliminated.Here are four examples of such situations. reasonable-cause  s...

By Ralph Nelson, EA, Kenny Kim, EA, MDThe IRS imposes tax penalties, including interest, if the taxpayer does not file or pay the tax on time or misrepresents their tax liability. We want to discuss four of the most frequent tax penalties and what can be done to have them canceled or reduced.1. F...