What is the IRS Employee Retention Credit?

We’ve been getting a lot of questions about this, so we thought we’d make this episode to answer some of them for you. 

You might think you don’t qualify for this credit, but you could be pleasantly surprised! There are a lot of misconceptions out there that we want to clear up, so make sure you tune in to find out if any of those misconceptions are keeping you from compensation that you’re entitled to. 

In this episode, we’re clarifying what the Employee Retention Credit is, how you qualify, and our process at the Bryson Law Firm for filing a claim. We’re taking you through the process step-by-step so that you know exactly what to expect.

Topics covered in this episode include:

• What the Employee Retention Credit is 
• Myths about the Employee Retention Credit that you need to watch out for 
• How the credit is calculated 
• How long it will take to complete the process and receive your credits

Tune in to find out everything you need to know about the Employee Retention Credit. 

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

Employee Retention Credit Presentation PDF Guide

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

How does the IRS calculate your ability to pay?

Your ability to pay is something you need to understand when you’re trying to resolve your IRS tax liability. 

Your ability to pay is one of two factors the IRS uses to determine how to resolve your case and it’s calculated based on your income and expenses. That might sound simple enough, but creating an accurate representation of your income and expenses can be a lot more complicated than it seems. 

In this episode, we’re getting into the nitty gritty of calculating your ability to pay, including what to look out for and how to avoid paying more than you can afford. 

If you have a tax problem, this episode is going to help you.

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

Calculating a Taxpayer's IRS "Ability to Pay" Presentation PDF Guide: https://drive.google.com/file/d/1bQ69b3REibd82KDprEC7REaF484dOgqJ/view?usp=share_link 

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

What can the IRS do when you have a tax problem?

The IRS can have both a lien and a levy against a taxpayer with outstanding taxes owed. 

We’re covering everything you need to know about liens and levies, including what they are and what the difference is between the two. We’re going over bank levies, wage garnishments, accounts receivable levies, and other accounts and property that the IRS can seize. We’re also sharing how to prevent collection activity and what to do if the IRS does initiate collection activity. 

If you’ve ever had a question about liens and levies, tune in to this episode to find an answer. 

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

Everyone is talking about the new Inflation Reduction Act, so what is it?

In this episode, we want to help you understand everything you need to know about the Inflation Reduction Act, how it affects you, and how to get ahead of it. 

We’re taking a look at how much money the IRS has to spend on this, why they’ve been given that money, and how they plan to spend it. 

We’re making this episode because we want you to know that if you have any questions or concerns about your tax compliance, now is the time to get some help making sure everything is in line. 

If you have questions about the Inflation Reduction Act and how it affects you, tune in. 

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

Are you a small business owner who was affected by the pandemic? Then listen up, because you might be missing out on relief measures available to you. 

This episode is all about COVID relief measures. We’re specifically covering the IRS Employee Retention Credit and why it has been underutilized. Don’t click away if you think you don’t qualify, because things have changed since it was first announced so you might qualify now! 

It’s unusual that this applies to small businesses because, as those of you who run small businesses know, we don’t usually get credits! 

We’re sharing some tips on how to qualify and apply for the Employee Retention Credit. We want to clear some things up and make it as easy as possible for you to apply if you qualify. 

Tune in now to find out if you’re leaving money on the table. 

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

COVID Pandemic Relief Continues: The IRS Employee Retention Credit Presentation PDF Guide: https://drive.google.com/file/d/15uGKf3BDDgLS9-R9UO7bqOuAmi2Nf1cT/view 

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

What is an IRS Offer in Compromise?

We’re here to clear up some misconceptions about Offers in Compromise and tell you what you really need to know. 

We might disagree on whether this is our favorite topic, but it’s important to understand Offers in Compromise as a tool for resolving cases.

You’ll find out what an Offer in Compromise is, why someone might file an offer, and everything that needs to be considered before filing. 

This process is not as simple as you might think, so be sure to tune in to find out everything you need to know and everything at stake before you file. 

Show notes are available at www.brysonlawfirm.com.

Resources Mentioned:

All About Offers Presentation PDF Guide 

Connect on Facebook: www.facebook.com/BrysonLawFirm and LinkedIn: www.linkedin.com/company/bryson-law-firm-l-l-c.

When the Covid-19 pandemic struck in March of 2020, we were forced to adapt in so many ways. Our offices, like many across the world, were forced to begin working remotely to minimize physical contact with others. However, as time has moved forward, our team has remained a virtual and begun to offer top-tier services through virtual convenience.

On the latest installment of Talkin' Tax, we're exploring the benefits associated with our free, virtual consultation. We strive to ensure our interactions with clients still provide a local feel, but from the comfort of your own home.

This episode is packed with beneficial insights into the Bryson's virtual work with clients and why so many current clients have been loving the virtual model.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:30 - The challenges the Bryson Law Firm faced when Covid-19 struck

4:43 - Our free, virtual consultation

6:50 - The differences between their virtual and in-person consultations

9:52 - Striving to provide a local feel during the virtual consultations

13:57 - What you can expect during your first consultation with the Bryson Law Firm

17:27 - The Bryson team is able to operate more quickly

20:08 - Our virtual consultations are secure and protected conversations

23:10 - Closing remarks

Connect with Cary and Angie Bryson:

Facebook

Website

LinkedIn

In most cases, tax-related issues can be solved before things escalate. However, when the seriousness of a given case rises, in the eyes of the IRS, they assign a specific Revenue Officer to your situation to collect the tax payment they're owed.

On the latest episode of Talkin' Tax, we're diving into the process of working directly with IRS Revenue Officers when they are assigned to cases. We'll not only cover the various situations that would lead to an officer being assigned to a case, but also the different actions they can take to collect the taxes owed.

Things are very serious when a Revenue Officer is assigned to your tax-related issue, which is why it helps to have a team of professionals standing in your corner!

Timecodes:

0:25 - Introduction and overview on the topic of the day

1:35 - Welcoming on the Brysons and Brandon Juneau to the show

2:00 - When does the IRS decide to involve a Revenue Officer to a case

4:00 - Working hand-in-hand with a Revenue Officer to resolve a case

5:31 - What Revenue Officers do when assigned to a case

9:08 - You get one shot to make your case with them

12:03 - How a Revenue Officer differs from the IRS' Automated Collection Service

15:06 - Will Revenue Officers forget about my case?

19:40 - How the Bryson Law Firm deals with IRS Revenue Officers

24:25 - Closing remarks

Connect with Cary and Angie Bryson:

Facebook

Website

LinkedIn