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ERTC can be complicated, but the financial benefits for employers can be immense. Under the current policy, you can claim up to $5,000 per employee per quarter in 2020. Employers could also claim ERT credits of $7,000 per employee in Q1, Q2, and Q3 of 2021.

How Much Do I Owe The IRS?: Tips To Figure Out Your Federal Taxes Everyone knows they must pay taxes, but few people know how much. In our new stay-at-home & gig economy, answering “How much do I owe the IRS?” has become even more complex. Even if you don’t work in a “traditional” office setting, you will still probably owe taxes. Plus, now that alternative investments like crypto are becoming commonplace, there are even more ways you could rack up back taxes with the IRS. 

Well, it's been a challenging time lately due to recent events, the IRS gave us extensions and some leniency the past couple of years. Well, no more. Take it from us here at Travis Watkins Tax, the IRS is back and they're back with a vengeance. Well, there's good news. The IRS's fresh start initi...

What is the difference between a Tax Attorney vs CPA? Can they do the same thing? Will both handle my tax debt against the IRS?

You handle the buds; we'll handle the bookkeeping. People don't get involved in Oklahoma's cannabis industry because they love filing taxes. Indeed, many would-be cannapreneurs get spooked out of this market because of all the confusing cannabis-related regulations.  Travis Watkins Tax Firm Ca...

Oklahoma tax lawyer, Travis Watkins, warns business owners to take immediate action. Travis W. Watkins Tax Resolution & Accounting Firm has helped many Oklahoma businesses reach success with payroll tax problems. The new and improved IRS is actively seeking convictions against taxpayers guilty o...

The Oklahoman recently interviewed Oklahoma City tax attorney Travis Watkins of Travis W. Watkins Tax Resolution & Accounting Firm, about a huge victory for an Oklahoma City man in tax trouble using the IRS' Offer in Compromise program. How does someone run up $2,000,000 in back taxes with the IR...

Every year, thousands of people face an audit, levy, lien, or other collection effort by the Internal Revenue Service (IRS). Dealing with the IRS is serious business. The average person doesn't know where to start when faced with a tax issue. Do you try to represent yourself, or do you seek the a...

Travis W. Watkins Tax Resolution & Accounting Firm's principal, Travis Watkins, has some curious advice for taxpayers in IRS trouble. These tips may prevent an IRS problem before it begins.  1. Don't extend your filing and payment deadlines, if you can help it. If you want to avoid tax problems, ...

A federal employee lost everything in a tornado, but gained a tax problem in the process. He found a local relief from Travis W. Watkins Tax Resolution & Accounting Firm. "A 61-year old Tinker employee went to the offices of Travis W. Watkins Tax Resolution & Accounting Firm for tax relief recent...

Travis W. Watkins Tax Resolution & Accounting Firm helped an Oklahoma City taxpayer score some points with the woman of his dreams by fixing his lingering tax problem. A 2016 survey reveals that women value security as the #1 thing they are looking for in a relationship. A close third is open com...

The end of the year is a very busy time for all businesses. While most businesses are spending time focusing on the busy holiday season or completing year-end transactions, they also need to start preparing their books for the upcoming tax and accounting season. This ends up creating a large rush...

Dealing with the IRS can be complex, confusing and downright scary. Misinformation runs rampant, making it hard to discern between IRS fact and fiction. Read our October newsletter here.

Payroll taxes are the most difficult types of IRS tax debts to negotiate successfully. We answer some of the 5 most common payroll tax mistakes that business owners choose to make. Read our November newsletter here.

An Offer in Compromise is one of the most valuable tools a taxpayer has when dealing with and oustanding tax liability owed to the IRS. The government is not required to accept your OIC, but if your offer is rejected you do have the opportunity to appeal a rejection—at which point you should mak...

The IRS is the most powerful collection company on the planet. However, you don't just have to tolerate every IRS encroachment. You have rights. Travis Watkins outlines some of those rights to Channel 8's Keith Taylor. KTUL.com - Tulsa, Oklahoma - News, Weather

In the vast majority of cases of jointly filed tax returns, both marital partners are on board with the information contained in the return and the fact that it is being filed. In some cases, however, one spouse opts to file a joint return without first obtaining the consent of the marital partne...

If you owe money to the IRS, or if the IRS suspects that you do, you may receive Form 9297, a Summary of Contact letter. This form is used to inform you of various pieces of information that you must provide to the IRS in order to assist them in the investigation of your tax problem. Reading this...

Tables for figuring the amount exempt from an IRS levy (like garnishment) on wages, salary and other income are located in Publication 1494 at www.irs.gov. Simply put, the amount of money exempt from the levy, i.e. the amount you get to take home from your paycheck, is determined by your filing ...

If you owe back taxes to the Internal Revenue Service (IRS), you will quickly learn that the agency uses many specific terms with specific definitions. One of the terms that you might hear is “collection financial standards.” What Collection Financial Standards Mean to You The IRS uses collection...

A tax levy is serious business. If you owe money to the IRS and you think that you might be at risk of an IRS wage levy, it is important to understand what that means and what it meant by an IRS wage levy release. Generally, an IRS tax levy means that the IRS may seize your property and use it to...

If you owe an unpaid tax liability to the IRS, then you likely know how aggressively they can pursue the debt they're owed. Threatening letters sent to your home, phone calls, visits to your place of work: the IRS will employ all of these tactics and more when trying to collect unpaid taxes. It ...

Over the last eight months, I've united with successful entrepreneurs, professionals, and experts from around the world to bring you the guide to success you've been waiting for. And now, I'm willing to share my methodology and mindset to guide and coach you to success in your own life. This i...

Not even close. You are right about one thing, though: if you're not a salaried employee, the IRS can't garnish your wages (that is, withhold a certain amount of your salary from each paycheck until your tax debt is paid in full). The reason the IRS can get away with this strategy for salaried wo...

As a taxpayer, it can often be an extremely frightening experience to suddenly receive a summons from the IRS. Many taxpayers mistakenly believe that a summons is only issued as part of a criminal investigation. In reality, you may receive a summons from the IRS for several different reasons. The...