Margolies Law Office

09/02/2024

“Do you owe more than $10,000 to the IRS? Do you have unfiled tax returns? Is the IRS auditing you? Please don’t contact the IRS on your own!

I have spent the last 10 years helping individuals and businesses of all backgrounds and income levels resolve their IRS issues.

My firm offers a broad range of solutions to get you back on track so you can move on with your life, including:

Installment Agreements
Penalty Reduction
Currently Not Collectible
Offer in Compromise
Audit Defense
Filing Past Due Tax Returns


Dealing with the IRS can be a scary and stressful process. Whether you've just received your first letter from the IRS, or the IRS is threatening to or has already taken your wages or property, I can help!

Please message me so we can determine your best path forward.

I look forward to speaking with you.”

Andrew Margolies - 469-626-7760
https://www.dallastaxattorney.com

10/04/2023

https://www.dallastaxattorney.com/navigating-an-irs-audit-tips-and-the-role-of-an-attorney

Margolies Law Office, Dallas Tax Attorney and DFW IRS Lawyer helping with Audits, Installment Plans, Unfiled Tax Returns, Wage and Bank Levy

07/27/2023

https://www.dallastaxattorney.com/navigate-irs-installment-agreements-with-a-tax-attorney

Margolies Law Office, Dallas Tax Attorney and DFW IRS Lawyer helping with Audits, Installment Plans, Unfiled Tax Returns, Wage and Bank Levy

07/14/2023

In light of the unprecedented economic disruptions caused by the global pandemic, governments worldwide have implemented several fiscal measures to support businesses and promote economic recovery. One such initiative is the Employee Retention Credit (ERC) in the United States, designed to assist employers in retaining their workforce during these challenging times. Understanding the qualification requirements for the ERC can help businesses leverage this valuable resource.

The ERC is a refundable tax credit accessible to eligible employers whose operations have been financially impacted by the COVID-19 pandemic. The requirements to qualify for the ERC have been subject to revisions over time, adapting to the evolving pandemic landscape and economic environment.

1. Operational Impact: Employers must demonstrate that their operations were either fully or partially suspended due to government orders related to COVID-19 or they experienced a significant decline in gross receipts during a calendar quarter compared to 2019.

2. Significant Decline in Gross Receipts: A significant decline is defined as a reduction of more than 20% in gross receipts for a specific quarter as compared to the same quarter in 2019. This threshold was previously 50% before being revised.

3. Full or Partial Suspension of Operations: If a business was forced to shut down or limit operations due to government restrictions related to the pandemic, it might qualify for the ERC, even if it doesn't meet the significant decline in gross receipts criteria.

4. Qualified Wages: The definition of qualified wages depends on the size of the employer. For businesses with 500 or fewer full-time employees, all wages paid to employees during periods of operational suspension or significant decline in gross receipts can qualify. For larger employers, only wages paid to employees for the time they are not providing services would qualify.

5. Exclusion of Certain Government Assistance: Employers that received a Small Business Interruption Loan under the Paycheck Protection Program (PPP) could not claim the ERC for wages paid with the PPP funds.

It is essential for businesses to understand these qualifications and consult with a tax professional or financial advisor to determine their eligibility accurately. Regularly checking updates from the IRS is also important as policies continue to adapt to the economic climate.

The Employee Retention Credit represents a significant opportunity for businesses affected by the pandemic. It can provide crucial financial relief to help maintain a stable workforce and enable recovery and growth in these challenging times.

08/01/2022

Another great review!

07/19/2022

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07/19/2022

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Generation Z is experiencing life-altering challenges including COVID and record inflation. This cohort plans to make it on its own terms.

07/19/2022

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Treasury Secretary Janet L. Yellen’s signature achievement is in jeopardy if the United States cannot ratify the tax agreement that she brokered.

07/19/2022

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While asking about your salary is legal under federal law, there are 22 states and 21 cities/localities where salary history inquiries are prohibited.

07/15/2022

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when you search for your notice or letter using the Search on this page, it doesn't return a result, or you believe the notice or letter looks suspicious,

07/14/2022

The IRS letters have started to arrive! Don't hesitate to call my office at (469) 626-7760 if you owe more than 10k, are being audited or have unfiled tax returns. You can also visit my website at https://1l.ink/J25HM3T to schedule your consultation.

07/10/2022

https://www.dallastaxattorney.com