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Trust Fund Recovery Penality or 100% Penalty

IRS Trust Fund Recovery Penalty or 100% Penalty

What happens when the IRS comes after you related to your business taxes? When a corporation has unpaid employment tax liability to the IRS and if that corporation can’t pay the taxes fast enough then the IRS might assert the…

October 23, 2013

The Government Shutdown Buys You Time to Get Your Taxes in Order

The government shutdown is on. If you are one of the 12 million taxpayers that filed for an automatic extension last spring and unsure if you’ll get your return due soon, we can’t help you. However, if you are one…

October 17, 2013


Reduce IRS Penalties

Attorney Patrick Sheehan talks about how to reduce IRS penalties on this video. How are your IRS penalties reduced? The IRS can assess huge penalties on your tax bill. Sometimes after say, 5 years, the tax bill can be doubled…

October 16, 2013


What Happens If I Don’t File a Tax Return?

What happens if I don’t file a tax return? Click image to see video. We all have a legal duty to file tax returns, but what happens if you do not file one. The IRS files one for you. And…

October 09, 2013

Offer in Compromise

  An offer in compromise is where you cut a deal with the IRS. You may have heard of ‘pennies on the dollar,’ that’s what an offer in compromise refers to. An offer in compromise is based on many different…

October 02, 2013

What Happens When A Business Doesn’t Pay IRS Payroll Taxes

My name is Patrick Sheehan and I am a former IRS Attorney. What Happens When Your Business Doesn’t Pay It’s Payroll Taxes. If you own a business, chances are that you have employees. And if you have employees, you are…

September 25, 2013

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September 18, 2013

Upcoming Deduction Changes

There are many deductions that are facing upcoming changes. We have provided a link that details what each of the deductions are and how they will be different in 2014. View the original article on upcoming deduction changes on Accounting…

August 23, 2013

Real Housewives of New Jersey Star Indicted on Multiple Charges

The popular reality TV show Real Housewives of New Jersey, may be getting more drama than they bargained for. Star of the series Teresa Giudice and her husband have been indicted on an array of charges including 39 counts of…

July 31, 2013

Deduction Calculator

For individuals who make charitable contributions and various donations throughout the year, itemizing deductions is most likely the best route when tax time rolls around. For those who don’t have as many deductions, using the standard deduction may be in…

July 24, 2013

Chicago Area Tax Attorneys

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Elmhurst, IL 60126

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