Self Employed Businesses
Employers can use Section 125 plans (aka: “cafeteria plans”) to provide pre-tax employment benefits to their employees. As these plans have risen in popularity, there’s...
Unfortunately, there are a lot of abusive promoters pushing noncompliant Section 125 plans. Sometimes, businesses spot red flags before signing up for a plan. In...
If the IRS audits your Section 125 plan and determines that it’s not compliant, you are liable. Unfortunately, even if the problem stems from a...
Section 125 plans are perfectly legal, as long as they’re set up and administered properly, but if they’re not, they can lead to serious problems,...
Some employers learn that their Section 125 plans are abusing IRS rules after getting contacted by the IRS or following an IRS audit of their...
If the IRS charged you late fees, failure-to-pay penalties, or underpayment interest between January 2020 and July 2023, you might be entitled to get that...
Section 125 plans (sometimes referred to as cafeteria plans) offer a great way for employers and employees to reduce their tax liability while also offering...
Updated February 2026 The IRS requires a variety of payers to issue 1099s. You may receive 1099s for interest payments, freelance income, dividends, brokerage transactions,...
Updated February 2026 Introduction: When the IRS Stops Asking and Starts Taking You’re not alone if you’ve received a letter from the IRS. For many,...
Updated February 2026 If you’re a business owner or executive, timely payroll tax deposits are a key part of federal tax compliance. This involves submitting...