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On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Friday, August 2, 2019.

The IRS taxes cryptocurrency as capital gains, but it requires taxpayers to disclose every transaction, whether or not it resulted in gains or losses. If you have invested in Bitcoin or another digital currency and haven't disclosed it to the IRS, you may not have paid all the taxes due.

Continue reading Got a letter from the IRS about your cryptocurrency investments? ...

Tags: Delinquency , IRS , capital gains tax , cryptocurrency

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Thursday, June 6, 2019.

A failure to pay taxes can lead to serious consequences. A handful of businesses throughout Minnesota are experiencing the reality of these consequences after the Minnesota Department of Revenue updated its delinquency tax records and essentially shutdown a portion of their business.

Continue reading Minnesota businesses hit with tax delinquency notices ...

Tags: Delinquency

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Monday, March 4, 2019.

Perhaps your estimated tax withholdings were not enough or maybe a tax bill has been growing over the years. Whatever the reason for a large, unmanageable tax bill it is important to know that there are options to help you pay your bill .

Continue reading How can I pay an unexpected tax bill? ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Friday, January 25, 2019.

The sales suppression software, often referred to as “zappers” secretly delete most cash transaction. They make a company’s books appear accurate, but in fact they under report actual sales. Some estimates suggest this software exists on 30 percent of electronic cash registers.

Continue reading “Zappers” back in the news with fraud charges filed ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Monday, January 7, 2019.

Minnesota lawmakers are considering an increase to property taxes. Lawmakers in Hennepin County are currently taking a 5.5 percent increase into consideration. If the proposal becomes law, homeowners could see a spike in their property taxes in 2019. These obligations can be difficult to manage, but a failure to pay the tax bill can result in serious consequences.

Continue reading The six stages of property tax delinquency in MN ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Thursday, October 18, 2018.

Forget to pay your property tax bill? Ignore this obligation and you could lose your land. In some cases, Minnesota’s Department of Revenue can seize property to cover delinquent tax bills.

Continue reading Tax delinquency and property seizure in MN: The basics ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Friday, March 9, 2018.

An Offer in Compromise (OIC) is one options that anyone struggling with tax debt may take into consideration. This option is basically an agreement between the Internal Revenue Service (IRS) and a taxpayer where the taxpayer offers the IRS a payment lower than the tax obligation. The IRS accepts the payment and forgives the remaining tax balance.

Continue reading Should you consider an Offer in Compromise with the IRS? ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Tuesday, October 3, 2017.

Getting hit with a tax levy may seem like something that could never happen to you. It seems unfair that the government can simply take your money directly from your paycheck, yet they do. The Internal Revenue Service (IRS) will employ this means of tax collection for overdue payments.

Continue reading Three ways to stop a tax levy on your salary ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Tuesday, September 19, 2017.

It may begin as a hobby. Perhaps a woodworking experiment or brewing gift set began as a fun pastime. But this new pastime has taken off. Perhaps you are spending more and more time on this hobby and you begin to wonder, could this be considered a business?

Continue reading Why is the distinction between hobby and business important? ...

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Delinquency on Wednesday, April 19, 2017.

For nearly every legal action, there is a point after which the case cannot be pursued. This is called the statute of limitations. Under Minnesota law , the shortest period of time in which a civil case can be brought is two years. The shortest period for criminal cases is three years. There is no statute of limitations in cases of murder.

Continue reading Is there a statute of limitations on IRS collection of taxes? ...

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Inflation-based tax changes for FY 2020 announced

Could an offer in compromise with the IRS resolve your tax debt?

IRS: Tax law change meant about 2.7 million fewer 2018 refunds

IRS will now accept debit card payments through private collectors

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Pridgeon & Zoss, PLLC 7301 Ohms Lane, Suite 420 Edina , MN 55439 Phone: 952-232-0371 Toll Free: 877-221-1651 Fax: 952-835-0201 Edina Law Office Map

Pridgeon & Zoss, PLLC, provides legal counsel for clients in Hennepin County, Ramsey County, Dakota County and Washington County, Minnesota, including Twin Cities area communities such as Minneapolis, St. Paul, Bloomington, Brooklyn Park, Burnsville, Eagan, Edina, Minnetonka, Richfield, St. Louis Park, Wayzata, White Bear Lake, Eden Prairie, Woodbury, Golden Valley, Maplewood, Roseville, Mendota Heights and Plymouth. The firm also serves clients in St. Croix County, Wisconsin, including communities such as Hudson and Menomonie.