ORP, OR LLC UT ESTIMATED TAX PAYMENTS
WIN OF THE MONTH DJ Drops the Beat AND His IRS Debt
on them, you may face underpayment penalties from the IRS. Not only will you be responsible for the total amount of payments you did not make, but you will also be charged a penalty if you do not pay by the due date provided by the IRS. This penalty is not a specific amount or percentage but rather is based on the amount owed, the amount of time that has passed since the due date, and the period in which the correct amount of taxes was underpaid.
In order to avoid an underpayment penalty, you must pay 100% of last year’s tax or 90% of the current
year’s tax upfront. Always keep in mind that if you have any questions regarding your estimated payments, taxes withheld, or underpayment penalties, we’re the experts and ready to help! Give us a call today!
INGREDIENTS
CASE SNAPSHOT Client: Professional Nationwide DJ Type of IRS Issue: Owes the IRS Tax Year in Question: 2012–2019 IRS Claimed Liability: $36,000.00 Savings: $8,000-plus
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1 1/2 cups plain yogurt or fat-free sour cream
1/4 cup Dijon mustard
6 sprigs fresh dill, chopped
2 14.75-oz cans salmon packed in water 4 celery stalks, finely chopped 1 large white onion, finely chopped
4 large eggs, beaten
1/2 tbsp salt 1 tbsp pepper 2 tbsp olive oil
DIRECTIONS
Our client, a professional DJ based out of Chicago and servicing multiple states, received some bad advice from his previous accountants. He ended up owing the IRS $36,000. Right after discovering this, COVID-19 struck, and there were no longer any DJ gigs available for him to work. This lasted through 2021 and partly into 2022. He left Chicago to help take care of his elderly mother and has been caring for her as he tries to revive his former career as a DJ. Our team was able to get him into a currently non-collectible status, and while it awaits review again, at least $8,000 of the liability will drop off due to CSEDs expiring. And that, my friends, is music to his ears!
1. In a small bowl, whisk together yogurt, Dijon mustard, and dill to make the dill sauce. Set aside. 2. Drain the salmon, then remove and discard the bones and skin. In a large bowl, mix the salmon, celery, onion, eggs, salt, and pepper. Form the mixture into 8 patties. Coat a medium skillet with olive oil and heat it over medium-high heat. Cook the patties until browned on both sides, about 5 minutes per side. 3. Put a dollop of the dill sauce on top of each patty and serve.
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