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Timalyn S. Bowens
Aug 30, 20236 min read
What Happens After You Pass the Enrolled Agent Exam?
Analysis paralysis gets the best of us at one time or another. I see it all too often with my fellow Enrolled Agents after they pass the...
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Timalyn S. Bowens
Aug 2, 20234 min read
What is Tax Representation?
A question I often get is, "what exactly is tax representation?" Initially I would think to myself," what? How do you not know?" But...
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Timalyn S. Bowens
Jun 7, 20234 min read
Understanding Your CP14 Notice
The Internal Revenue Service (IRS) is currently sending 5-8 million CP14 notices to taxpayers. Earlier in the year they announced that...
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Timalyn S. Bowens
Mar 21, 20235 min read
When are Taxes Due (2023)?
Tax day for 2023 is April 18th, 2023. Not only is your tax return due on this date, but if you have a balance it is also due on this date
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Timalyn S. Bowens
Dec 7, 20226 min read
How to Avoid Paying Taxes on U.S. Savings Bonds
I was born during the late 80s. During that time it was popular for people to buy savings bonds for children. It was an investment into...
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Timalyn S. Bowens
Sep 21, 20224 min read
How is a 401(k) Taxed?
Save on your taxes and save for retirement. That's the advantage I hear people share when promoting a 401(k). It sounds good but it is...
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Timalyn S. Bowens
Sep 20, 20224 min read
Is Social Security Taxable?
Do you know how much money you need in retirement to maintain the lifestyle that you currently live? Are you on track with your savings...
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Timalyn S. Bowens
Sep 17, 20223 min read
What is the Failure to Pay Penalty?
The failure to pay penalty is a penalty assessed by the IRS to taxpayers for not paying their tax bill by the filing deadline. The...
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Timalyn S. Bowens
Sep 15, 20223 min read
Why Would the IRS Send Me a Letter?
Forosophobia is the fear of taxes and the IRS. I read an article about this fear in Psychology Today. As I was reading the article I...
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Timalyn S. Bowens
Sep 14, 20225 min read
Your 4 Options When You Owe the IRS and Can't Pay Today
Will the IRS clean out my bank account? Will the IRS show up at my house? Will the IRS garnish my paycheck? They are going to throw me...
2 comments
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Timalyn S. Bowens
Sep 13, 20224 min read
3 Things Nobody Tells First Generation Business Owners About the IRS When They Start Their Business
93% of the taxpayers I have helped with back taxes in the past 4 years were self-employed. Over half of those people were also...
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Timalyn S. Bowens
Sep 12, 20223 min read
How Are LLCs Taxed?
Did you go into business to do taxes? A select few business owners do. So it is no surprise that taxes are one of the most confusing...
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Timalyn S. Bowens
Sep 11, 20223 min read
How to Make an Online Payment to the IRS Using Your Bank Account
Originally, taxpayers could only make payments to the IRS by check and money order. Today the IRS offers a variety of ways to pay,...
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Timalyn S. Bowens
Sep 10, 20224 min read
How to Make Quarterly Estimated Tax Payments
Failure to make estimated tax payments is one of the top reasons why taxpayers owe the IRS. Over the past 11 years, I've realized that...
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Timalyn S. Bowens
Sep 9, 20224 min read
5 IRS Penalties to Avoid in Your Business
When taxpayers don't meet their tax obligations the IRS charges penalties. The reasons range from not filing on time to not providing...
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Timalyn S. Bowens
Sep 8, 20223 min read
How to Fill out a W9 Form as a Sole Proprietor or Single-Member LLC
One of the nice things about being self-employed is the flexibility you have. But with this newfound freedom, there is more paperwork. As...
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Timalyn S. Bowens
Sep 7, 20223 min read
How to Get an IRS Transcript Online in 3 Steps
It used to take taxpayers a long time to access their tax records from the IRS. Now the IRS has several online tools to make IRS...
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Timalyn S. Bowens
Sep 6, 20223 min read
What is a Tax Transcript? The 5 Different IRS Tax Transcripts
A tax transcript is the raw version of your financial story that the IRS has on record. Your tax return is your interpretation of what...
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Timalyn S. Bowens
Sep 5, 20224 min read
Innocent Spouse vs Injured Spouse Tax Relief
Just because your spouse is in trouble with the IRS does not mean that you have to go down with them. Two common forms of relief the IRS...
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Timalyn S. Bowens
Sep 4, 20224 min read
Innocent Spouse Relief from Back Taxes
Have you ever heard of a couple getting in legal trouble due to back taxes? Maybe you remember the summer of 2013. When the Real...
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