Cazes Tax Law

Tax & Business Legal Services

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02/12/2021

Causes and Consequences of Corporations and LLCs Loss of Good Standing Status

Main causes:

1. Failure to file tax returns (franchise or income)
2. Failure to file annual reports

Consequences include:

1. Possible loss of access to courts
2. Difficulties in securing capital and financing.
3. Tax liens
4. Loss of name rights.
5. Administration dissolution or revocation.
6. Penalties.
7. Personal liability.

If you have a corporation or LLC not in good standing, and need help getting it back in good standing, please call Dale B. Cazes, Esq. at (405) 623-4434.

02/03/2021

Photos from Cazes Tax Law's post

10/14/2020

ESTATE PLANNING

Estate planning is the process of designating who will receive your assets and handle your responsibilities after your death or incapacitation. Estate planning can help establish a platform you can fine-tune as your personal and financial situations change. The key question to ask yourself is: How do you want your assets distributed if you die or are incapacitated?
1. Inventory your stuff
2. Account for your family’s needs
3. Establish your directives
4. Review your beneficiaries
5. Note your state’s estate tax laws
6. Plan to revisit should you have any life changes.
7. Hire an attorney who specializes in estate and tax planning to avoid trust mitigation!!!!! Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434

10/12/2020

IS YOUR TAX DEBT LIKE A BALL AND CHAIN??

If you’re in that boat, it is not the end of the world! There are steps you can take to reduce the impact of unpaid taxes on your life, credit and financial well-being. Here are five tips to lessen that burden: 1. Don’t ignore the problem. 2: Be realistic about your situation. 3: Owe $10,000-plus? Hire an attorney. 4: Get streamlined. At Cazes Tax Law we can help you take the right steps to lessen your tax burden. Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434

10/09/2020

TAX DEBT FORGIVENESS??????

Under certain circumstances, the IRS will agree to a settlement of your unpaid tax debt. The IRS will look at your present financial condition; along with other factors. The IRS can't collect more than you can reasonably pay. If you have tax debt, and you want to see if you qualify for an IRS settlement, then please call us today for an evaluation. [email protected] or call (o)405-254-5005 (c)405-623-4434

10/07/2020

If you owe more than $10,000, consider hiring a tax attorney to negotiate with the IRS. Payment plans differ, and an experienced attorney can help you get better terms. They can also help you avoid having a tax lien being filed against you, which will damage your credit. Research and experience both show people who consult with a tax relief expert early on and get their tax issues resolved have fewer financial, business and personal repercussions. Fortunately, most tax relief professionals provide consultations prior to full-on representation. During the consultation, a tax debtor and tax professional can together understand the scope of the tax problem, discuss the options available, and determine how to best resolve the matter together. At Cazes Tax Law, we help our clients get relief and results! Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434

10/05/2020

Every year the IRS reports that millions of Americans continue to fall behind on their taxes. Reasons could be simple mistakes, such as filing late or making errors in tax calculations, which can be avoided upon careful inspection and preparation. Other reasons are more serious. Failure to report taxable income in extreme and deliberate cases can result in jail time in addition to monetary penalties.
To avoid owing the IRS, focus on being self-motivated and educate yourself on your tax reporting and payment obligations. If you are ever unsure about your tax reporting and payment obligations, you may need a tax attorney. At Cazes Tax Law, we can help you understand your tax situation and resolve it. Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434

10/01/2020

Cazes Tax Law Is Your Solution!

If you owe back taxes and would like to know your options for debt relief, call us at Cazes Tax Law. We can break down what the IRS offers for different financial solutions, including Offer in Compromise, Installment Agreement, Currently Not Collectible Status, and Innocent Spouse Relief.
Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434 to find out which is the best option for you.

07/27/2020

KNOW YOUR FACTS!!!!

There has never been a time where more information is at our fingertips than now! If you have tax issues and have been searching online for solutions to resolve your tax issues, stop now because most tax resolution services are not honest or trustworthy. They will just take your money and leave your tax issues unresolved. Licensed Tax Professionals such as Tax Attorneys and CPAs are best at determining if, and what type of, tax resolution method is best for you. You may qualify for an offer in compromise and should seek professional guidance on the process, including what your offer amount may be. Call us at Cazes Tax Law to discuss the best approach to your individual tax [email protected] or call (o)405-254-5005 (c)405-623-4434

07/20/2020

Do you owe the IRS?
If you have filed taxes, owe the IRS, and find yourself not be able to pay, NOW is the time to settle. We can reduce or eliminate your tax debt. Dealing with this can be complicated, but at Cazes Tax Law we can help you achieve the best results by offering effective solutions to resolve your tax problems. Call us today to find out if you qualify for the Offer In Compromise or other tax relief or reduction programs. Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434

06/17/2020

Offer in Compromise......and your credit score!

An Offer in Compromise does not affect your credit. Credit services have no idea that you have filed an offer or are seeking relief. the key is that your offer is accepted. Once the offer is accepted and paid, any tax lien should be released.
If you need help with tax debt relief contact us today at
[email protected] or call (o)405-254-5005 (c)405-623-4434

06/12/2020

Tax Resolution

Are you facing IRS tax issues? Don't feel like you have to handle these on your own! We can help with liens, levies, innocent spouse, audits, tax settlements and more!
Contact us at [email protected] or call (o)405-254-5005 (c)405-623-4434 today and get a fresh start!

06/08/2020

Business Prenuptial Agreements

Also, called a business will, buy-out agreement, or buy-sell agreement, this type of agreement stipulates what happens to an owner’s interest in a business in the event that such owner dies or leaves the business. It includes exit events such as an owner’s divorce or bankruptcy. This agreement is essential so that the other owners of the business are not forced to be partners with ex-spouses, kids, or other unintended persons. So, contact Cazes Tax Law if you are beginning a business or have already started one without this agreement, to get this agreement in place. [email protected] or call (o)405-254-5005 (c)405-623-4434

06/03/2020

During the time of Covid-19, we have all had a heightened sense of safety measures that have been unavoidable to not consider and implement. Most of these are in the physical sense, but I would like to bring up the safety measure of protecting your family in the event of an untimely death. In that regard, your family can be protected by having an Estate Plan in place so that your estate is safe for your loved ones. Here are some simple steps to an Estate Plan:
1. Make a will for who you want to inherit your property
2. Consider a trust to avoid probate
3. Make health care directives if you become unable to make medical decisions
4. Make a financial power of attorney if you become unable to make financial decisions
5. Name an adult to manage the property a child inherits from you
6. File beneficiary forms for bank accounts and retirement plans
7. Consider life insurance to pay debts and taxes
8. Make funeral arrangements and cover funeral expenses
9. Protect your business with a buy-out agreement
10. Store your documents so they can be found
Contact us for help on securing your assets for your loved ones. [email protected] or call (o)405-254-5005 (c)405-623-4434

06/01/2020

TO FILE OR NOT TO FILE.........TAKE ACTION!! FILE TODAY!!

Getting compliant after not filing your personal income tax returns for 1 year or more can be intimidating. We understand how this can happen and how it can be difficult to get back into compliance with the IRS by filing your delinquent income tax returns. However, it is far worse for you to fail to file your income tax returns, than for you to file and owe delinquent taxes. Your failure to file your income tax returns can result in several bad consequences, including, (1) penalties, (2) no refunds, (3) loss of tax credits, (4) statute of limitations to assess income taxes never starts, (5) serious collection activities by the IRS, including liens, levies and garnishments, and/or (6) even incarceration in some circumstances. Call us today to get in good standing with the IRS and avoid the repercussions from failing to file your income tax returns.
[email protected] or call (o)405-254-5005 (c)405-623-4434

05/29/2020

The IRS can wield powers to ensure that taxpayers pay their taxes. Here are 3 methods of collection that the IRS can exercise:

1. A levy or garnishment, whereby the IRS seizes your assets and/or your income for the past due taxes.
2. A notice of federal Tax Lien, whereby the IRS files a notice in the public records (such as the registrar of deeds) creating a lien against your assets (including your home) for the past due taxes.
3. Passport restrictions, whereby the IRS can deny renewal of, or revoke, your passport, thus restricting your travel.

Contact us at Cazes Tax Law to put together a plan to settle your tax debt to avoid these actions by the IRS. [email protected] or call (o)405-254-5005 (c)405-623-4434

05/27/2020

Unpaid Taxes…..what can you do about it?

If you owe the IRS back taxes and do not make arrangements to pay the IRS, you could face collection enforcement actions in the form of liens, garnishments, levies, and passport restrictions. However if you cannot pay your taxes in full, you can take advantage of the following IRS settlement alternatives: (1) installment agreement, (2) currently not collectible status, and (3) offer in compromise. If you need help in resolving your tax debt, contact Cazes Tax Law to discuss one of these options. Contact us for help with your back tax issues and tax relief options at [email protected] or call (o)405-254-5005 (c)405-623-4434

05/22/2020

There has never been a better time to resolve back tax issues than now!!!! If you are looking for tax relief, take comfort that there are options to relieve your tax burden!!!! Contact us for help with your back tax issues and tax relief options at [email protected] or call (o)405-254-5005 (c)405-623-4434

05/18/2020

IRS COLLECTIONS FOR TAXES TO BEGIN AGAIN SOON

Beginning July 15, IRS’s temporary suspension of most collection activities for back taxes will end. Do you have a plan once IRS collection starts to pick back up? If not, please contact us today to use this time to address your tax situation! Email [email protected] or call (o)405-254-5005 (c)405-623-4434

05/12/2020

Get Your Tax issue resolved today! We understand that life circumstances happen that may cause financial stress and hardship. At Cazes Tax Law we offer a confidential and comfortable environment to hear your circumstances and help you get relief from the stress of back taxes. Contact us today for your consultation! Email [email protected] or call (o)405-254-5005 (c)405-623-4434

05/04/2020

Resolve Your IRS and OKLAHOMA Tax Commission
Tax Issues

Are you facing IRS or OKLAHOMA Tax Commission issues? At Cazes Tax Law, we can help you resolve the burden of back taxes. We are standing by with various tax resolution programs, and are ready to help. We can provide you the experienced tax resolution advice, guidance and representation needed to successfully navigate the IRS and OKLAHOMA Tax Commission. Contact us today for your consultation! Email [email protected] or call (o)405-254-5005 (c)405-623-4434

05/01/2020

Businesses May Possibly Face State Income Tax Nexus Issues

Businesses with employees working from home because of state Covid-19-related stay-at-home orders may be subject to corporate income tax nexus in states or territories where they don’t have physical locations. With employees working from home in states where businesses don’t have a physical presence, there is growing concern about taxing authorities now asserting corporate income tax nexus. This nexus requires businesses to file income tax returns and pay income taxes due to the state asserting the nexus. Most states have not passed legislation or issued guidance that would give businesses not physically located in their states an exemption from these requirements. If these stay at home orders rules were not in place, and employees weren’t forced to work from home in these states, there would be no income tax nexus.
Contact us at Cazes Tax Law to discuss if your business is going to face this income tax nexus issue. Email [email protected] or call (o)405-254-5005 (c)405-623-4434

04/30/2020

Temporary Suspension of Commercial Purposes Exclusion for Private Passenger Auto

Restaurant owners/employees:

Some insurance companies are temporarily suspending the Commercial Purposes exclusion on Private Passenger Automobile policies. This temporary suspension appears to apply to insurance policy holders (restaurant employees) who are direct employees of a restaurant and have been requested to temporarily use their personal vehicle for the commercial use of their employer to deliver food. You need to check with your insurance company to see if it has temporarily suspended this exclusion.
Email [email protected] or call (o)405-254-5005 (c)405-623-4434

04/27/2020

Why have a Will?

Creating a will is essential for everyone. Putting an estate plan in place helps your loved ones during what is already a difficult time.Here are some reasons why:

1. It keeps the courts from deciding where your assets go.
2. It establishes guardianship for children that are minors.
3. It appoints someone to handle your affairs after you pass on.
4. It’s also important to name people to several other key roles, in addition to naming an executor of your will; you should execute and appoint powers of attorney for both health care and your financial affairs if you become incapacitated while still living.

Where there is a will there is a way …… having a will creates a way to focus on celebrating the life of their loved one and eliminates the stress of who gets what by distributing assets according to the last wishes of their loved one!

04/24/2020

Tax Debt Resolution

Do you need tax debt resolution? There are several different options that the IRS offers. We can help find a resolution that caters to your financial situation and gets you back on track! Act today! Contact us at Cazes Tax Law for your consultation. Email [email protected] or call (o)405-254-5005 (c)405-623-4434

04/23/2020

As America considers lifting COVID-19 pandemic restrictions to support the lives and livelihoods of Americans, businesses that reopen are subject to lawsuits and liability that could result from coronavirus-related disruptions from policy decisions made by government officials as they participate in the undoing of this economic devastation. While businesses are seeking support from government officials to be protected from litigation, there is no guarantee the government will provide such support. Therefore, now more than ever, it is imperative that you have a “reopening plan” in place so that you can confidently move forward to implement a reopening of your business in this challenging environment in order to protect the health, safety and welfare of your employees, your customers, and the general public. Please call me to discuss best practices and a “reopening plan” for your business so you can open your business safely for everyone in order to avoid or mitigate the risks of potential litigation against your business. Contact us at (o)405-254-5005 (c)405-623-4434 or email [email protected]

Address

Oklahoma City, OK

Telephone

+18665294307

Website

http://WWW.CAZESTAXLAW.COM/

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