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A New Hampshire business owner recently pleaded guilty to filing a false tax return  after hiding over $1 million in business income through an under-the-table cash payroll. By cashing client checks made payable to “cash” and paying employees off the books, she not only underreported her own income but also failed to withhold required payroll taxes. Over three years, she claimed just $35,000 in business income  when her company actually earned nearly $1.7 million . Now, she

You’ve probably heard the ads: “Settle your tax debt for pennies on the dollar!” Sounds great, right? Unfortunately, that’s where many taxpayers get misled. The Offer in Compromise (OIC)  is one of the most powerful IRS programs available — but it’s also one of the most misunderstood. At Genialis Opus LLC, we’ve helped countless taxpayers determine whether they truly qualify for an OIC and, when they do, guide them through the complex process to achieve life-changing results.

When taxpayers fall behind on their federal tax obligations, the IRS has multiple tools at its disposal to initiate collection. One of the most common — and least understood — is the Automated Collection System (ACS) . If you’ve received letters from the IRS or had your wages or bank accounts levied, chances are you’re in the ACS. But what exactly is it, and what should you do if your case ends up there? Today, we’re breaking down what ACS is, how it operates, and how a tax r

Navigating the complex world of taxes can be daunting, especially when managing significant assets or running a business. I have found that mastering effective tax optimization techniques is essential to protect wealth, reduce liabilities, and ensure long-term financial health. This post will guide you through practical strategies and insights to help you take control of your tax situation confidently. Understanding Effective Tax Optimization Techniques Effective tax optimiza

Managing your finances as a high earner requires more than just tracking income and expenses. It demands a strategic approach to tax planning that safeguards your wealth and maximizes your financial potential. In this post, I will walk you through essential tax strategies tailored for individuals with complex financial situations. These strategies will help you reduce your tax liability, protect your assets, and plan confidently for the future. Understanding Wealth-Focused Ta

Retirement planning can feel overwhelming for small business owners. Unlike typical employees, you face distinct challenges when saving for the future. However, with the right strategies and resources, you can take control of your financial future. This blog post will highlight effective retirement savings options available to you and how to make the most of your savings during the 2025-2026 tax year. Understanding Your Retirement Needs Before exploring retirement savings opt

A business owner in Butler, Pennsylvania, is now imprisoned after pleading guilty to serious payroll tax violations. According to the U.S. Attorney’s Office , 49-year-old Michael D. Funovits  admitted that between 2016 and 2023, he failed to pay over payroll taxes withheld from employees’ paychecks while operating his companies, PennRo Associates LLC  and Penn Exteriors LLC . These withheld funds—called trust fund taxes —belong to the employees and must be turned over to the

Managing your wealth effectively means more than just earning a high income. It requires smart decisions to protect your assets and reduce your tax burden legally. Advanced tax planning is essential for anyone with complex financial situations. It helps you keep more of what you earn and ensures your financial future is secure. In this post, I will share practical, innovative tax minimization strategies that can make a significant difference. Understanding Advanced Tax Planni

Source:   Treasury Department – IRS FY2026 Lapse Plan (PDF) When Congress fails to pass annual funding bills on time, the federal...

If you’ve been hit with IRS penalties, you know how fast they add up. Late filing, late payment, or other missteps can turn a manageable...

Managing your tax obligations can feel overwhelming, especially when your financial situation is complex. However, understanding and...

As the year draws to a close, it is crucial to focus on strategies that can optimize your tax situation. Taking proactive steps now can...

Navigating the complex world of taxes can be challenging, especially when managing significant assets or running a business. Effective...

The One Big Beautiful Bill Act (OBBBA) : Navigating the New Tax Landscape for High Earners ==============================================...

The OBBBA brings significant changes to estate planning. It is essential to grasp these adjustments to navigate your financial future...

Staying compliant with the IRS isn’t just about avoiding penalties — it’s about protecting your financial future. When tax issues are...