Jonathan Donenfeld
Tax Man, Tax Relief PodcastEpisodes
Episodes of Tax Man, Tax Relief Podcast
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When someone approaches me with a back tax problem, we follow a simple three-step approach to find a resolution. The initial step, which I like to call 'stop the bleeding,' involves assessing their accounts, determining what filings are necess
Many individuals I come across often feel scared and embarrassed about their tax problems, but let me assure you that you are not alone. Countless people experience issues with the IRS. There are various reasons why these problems arise, such
Hello, I'm Jonathan Donenfeld, the President of JLD Tax Resolution Group. I started my own business in 2015 with a focus on helping other small business owners resolve their tax problems. As a business owner myself, I understand the struggles a
Do you know that the IRS is primarily hiring individuals for three key positions? Firstly, they're bringing in people to conduct audits on partnerships. Secondly, they're hiring auditors for s-corp businesses. Lastly, they're also recruiting
Handling an audit and responding to the IRS are crucial steps that require attention. Typically, the IRS will provide you with a list of requested items and the scope of the audit. It is essential to carefully assess what you have and determine
Have you heard of the Partial Pay Agreement? It's a little-known yet fantastic way to save a ton of money with the IRS. We refer to it as the back door Offer in Compromise. The great thing about it is that it's much easier to get accepted and
Why is the Partial Pay Agreement with the IRS referred to as the 'back door' Offer In Compromise? The reason behind this is simple - it has proven incredibly effective in allowing you to settle your tax liability for less than you owe. Unlike
Have you recently received a letter from the IRS regarding a proposed adjustment of your income? Wondering how to handle it? It's important to demonstrate the accurate cost basis for your stock or crypto purchases. The best approach is to subm
Many lawyers work for themselves, especially if they are a partner or own their own firm, and their income can vary greatly. Like many other self-employed individuals, they often struggle to withhold enough money for taxes. Issues also arise w
It has been a little over a year since the Senate approved IRS funding of $45.6 billion for enforcement. And what we have noticed is that the IRS has made hiring more higher-level professionals a top priority. It seems like they are determined
The IRS is targeting many self-employed individuals who earn six figures or more. It's interesting to note that we're witnessing an increase in audits for small business owners who file Schedule C and fall into the same income bracket. Among t
It has been a little over a year since the Senate approved IRS funding of $45.6 billion for enforcement. And what we have noticed is that the IRS has made hiring more higher-level professionals a top priority. It seems like they are determined
The IRS is targeting many self-employed individuals who earn six figures or more. It's interesting to note that we're witnessing an increase in audits for small business owners who file Schedule C and fall into the same income bracket. Among t
A lot of people want to do an offer in compromise (OIC) but are not qualified to get one. But in fact, it is much easier to qualify for a partial pay installment agreement (PPIA) than OIC. There are two things to consider before doing either a
The IRS only issues a civil fraud penalty when they are certain you owe tax and can prove your intent to fake an expense, a dependent, or a business in an audit. When you are charged with a civil fraud penalty, you should not fight against it.
We go to appeals on almost all of our tax audits. This is because you normally get a better deal when you file an appeal to tax court. What happens when you appeal is that the case goes to a settlement officer that will settle the case before
Getting your lien removed is possible. If the IRS placed a lien against your account, you need to decrease your tax debt to under $25,000. Then, get into a direct debit installment agreement (DDIA) for the remaining balance. After three paymen
A partial pay installment agreement (PPIA) is what some call the “backdoor offer in compromise.” This involves not paying your tax liability in full. For most people, a PPIA is a much easier way to get a settlement with the IRS than an offer i
A revenue officer is an agent responsible for collecting revenue for the IRS. Their goal is to get as much money as possible. These officers have the power to levy your bank account and garnish your wages. When a revenue officer is assigned t
You can resolve your tax issues in three steps. The first step is called the “stop the bleeding” phase. If you have back tax issues, it is possible the IRS has collections pending against you, a revenue officer, potential bank levies, and wag
According to the IRS, a high-net-worth individual is one who makes over $100,000. They have a special department that looks into these individuals with unfiled tax returns. For businesses, the IRS considers gross revenue. If a business has $20
What Issues Are the IRS Looking for When They Audit Small Businesses? If you happen to be an S Corp, they'll be taking a closer look at your shareholder compensation. If your salary is unreasonable or too low, they might flag you for not payin
We've noticed quite a few taxpayers receiving letters from the IRS lately, specifically a CP508. This notice is typically sent out when the IRS is certifying your tax debt, usually if you owe $50,000 or more - but in 2023, that threshold will b
Hey there, it's Jonathan Donenfeld from JLD Tax Resolution Group, and I have news to share regarding the recent hiring of new IRS agents. From what we've gathered, the IRS has brought on roughly 10,000 agents. These agents are mainly divided in
Many ask what a proven and effective strategy is to build wealth and minimize taxes. The number one strategy that many savvy investors utilize is the Buy, Borrow, and Die method. This approach involves purchasing appreciating assets, such as re
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