As a small business owner, you wear many hats. From sales and marketing to operations and customer service, your attention is constantly divided among competing priorities. When it comes to financial management, however, attempting to handle everything in-house can sometimes do more harm than good. At Murray Moyer PLLC, we regularly work with small business…
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Receiving a Notice of Assessment from the North Carolina Department of Revenue (NCDOR) can be a bit daunting but understanding its purpose and the steps you need to take can help ease the process. What is a Notice of Assessment? A Notice of Assessment is a formal notification sent to taxpayers by the NCDOR, indicating…
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The North Carolina Department of Revenue has issued an important notice regarding the extension of time to file franchise and corporate income tax returns. This notice addresses significant updates, including changes to the North Carolina Administrative Code and the process for corporate taxpayers to obtain a seven-month extension. Background The Secretary of Revenue (the “Secretary”)…
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When it’s time to prepare your taxes, you may find yourself debating between a national tax service and a local accounting firm. While both options can assist with filing your returns, the differences between these two approaches can have a significant impact on your financial outcomes. Understanding these distinctions can help you make a more…
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The IRS has announced key inflation adjustments for the 2025 tax year, and these changes will impact taxpayers across the board. Understanding how these updates affect you can help you plan ahead and avoid surprises come tax season. Here’s a summary of the most notable adjustments. New Federal Tax Brackets for 2025 The tax brackets…
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Tax fraud is a growing concern for individuals and businesses alike. From phishing schemes to identity theft, criminals continually devise new ways to exploit taxpayers. To combat this, the IRS has dedicated International Fraud Awareness Week to educating the public on recognizing, preventing, and reporting tax-related fraud. At Murray Moyer PLLC, we are committed to…
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In the wake of Hurricane Helene, North Carolina families and businesses affected by the storm are eligible for tax relief. The IRS has announced a series of deadline extensions aimed at providing financial flexibility for those impacted. This relief applies to individuals and businesses located in disaster areas, offering much-needed time to recover without the…
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For individuals and businesses in the path of natural disasters, dealing with taxes is often the last thing on their minds. Fortunately, the IRS has announced tax relief for victims of Hurricane Debby, including extended filing deadlines and other crucial support. If you or your business were affected by this storm in South Carolina, most…
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Finding yourself in the middle of an IRS tax controversy can be extremely stressful. You believe that you filed your taxes correctly, but the IRS thinks differently or life’s circumstances have hindered your ability to pay your taxes. You now risk forced collection action along with penalties and interest, but you aren’t sure of how…
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Receiving a notice from the Internal Revenue Service (IRS) that your business taxes are being audited can be disarming. However, having a clearer understanding of why these audits occur, how they unfold, and what your rights are throughout the process can hopefully help alleviate some of the anxiety you may be feeling about it. Statistics…
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