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Timalyn Bowens
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Tax Relief with Timalyn Bowens
What is an IRS Audit?
Episode 61: In this episode, Timalyn breaks down one of the most misunderstood topics in tax: the IRS audit. After 60+ episodes of educating taxpayers, she’s kicking off a brand-new series that explores what an audit really means — and what it doesn’t. Many people fear a suit-wearing IRS agent knocking at their door, but as Timalyn explains, that’s highly unlikely. Instead, most audits today are conducted through correspondence and notices, not surprise visits. So, what is an audit? An IRS audit is simply a review or examination of your accounts and fina...
2025-06-20
14 min
Tax Relief with Timalyn Bowens
Your Right to Appeal IRS Decisions
Episode 60: In this episode, Timalyn explains your right to appeal unfair IRS decisions and why you shouldn't give up. We are celebrating three years and 60 episodes of the Tax Relief with Timalyn Bowens podcast! Provisions from the 2017 Tax Cuts and Jobs Act are set to expire in December, and many taxpayers are worried about IRS mistakes - especially after recent budget cuts and workforce reductions. Does this mean you have to accept wrongful IRS decisions? Timalyn says absolutely not. She explains that the IRS...
2025-06-06
18 min
Tax Relief with Timalyn Bowens
Is the IRS Going Away?
Episode 59: In this episode, Timalyn addresses whether or not the IRS is here to stay. We have seen significant changes at the IRS within the past few months as they went through a work force reduction. We have also seen them lose $40 billion of the $80 billion that was promised to them in funding by the Biden Administration. Does this mean that they are going to go bye bye? Timalyn doesn't believe so. She believes that this smaller force will make it more difficult for taxpayers to handle their IRS issues on their own...
2025-05-23
16 min
Tax Relief with Timalyn Bowens
How Long Do You Have to Pay Taxes?
Episode 58: In this episode, Timalyn explains how much time you have to pay your tax bill and how much time the IRS legally has to collect. Your tax balance is due on the due date of the return. However, when the IRS sends you a CP14, this Notice and Demand for Payment will give you 30 days to pay before the IRS uses any enforcement. This includes things like an IRS Lien or Levy. If you can pay the debt off within 180 days you may qualify for a short-term installment agreement. This agreement can be arranged us...
2025-05-09
18 min
Tax Relief with Timalyn Bowens
Why Do I Owe Taxes This Year?
Episode 57: In this episode, Timalyn explains the reason you likely owe taxes this year. She highlights 5 common reasons that people owe each year. It is ultimately the responsibility of the taxpayer to ensure that they are withholding enough taxes. The top 2 reasons that people owe the IRS is because their withholding and/or estimated tax payments are off. Timalyn has created a series on her YouTube channel to walk you through the process of correcting your withholding for a W-2 job, pension, or your social security. You can find this series below. Withholding Series
2025-04-25
20 min
Tax Relief with Timalyn Bowens
What If I Can't Pay My Taxes?
Episode 56: In this episode, Timalyn explains that all hope is not lost if you can't pay your taxes in full. You do have options! First, take a deep breath! Make sure that you have your tax return filed on time. This will help you avoid any additional penalties, such as the failure to file penalty. Payment Arrangments You may qualify to pay your balance over time. If you owe less than $50,000 and have been tax compliant you may qualify to set up an OPA yourself using the IRS website. An OPA is an online payment ar...
2025-04-11
15 min
Tax Relief with Timalyn Bowens
The Failure to File Penalty
Episode 55: In this episode, Timalyn explains what the failure to file penalty is and why it is adding so much to your tax bill. She will not only talk about what it is but how it's calculated, and how to potentially get it removed. Can't File Your Taxes On Time? You can avoid the failure-to-file penalty by filing a timely tax return or tax extension. If you're an individual needing to file an extension you can do so by filing Form 4868. Timalyn will have a video to walk you through filing the 2024 4868 on her YouTube c...
2025-03-28
18 min
Tax Relief with Timalyn Bowens
Is Unemployment Taxable?
In Episode 54 Timalyn discusses unemployment tax and how it affects a taxpayer's tax liability. Some forms of unemployment are not taxable such as workers compensation. The topics covered in this episode are: What is unemployment? Is unemployment taxable? What's workers compensation? How is unemployment reported? What is Form 1099-G? If you'd like to work with Timalyn directly, you can book a call with her at www.Bowenstaxsolutions.com . As we conclude Episode 54, we’d like to encourage you to connect with Timalyn on social media. You’ll be able t...
2025-03-14
16 min
Tax Relief with Timalyn Bowens
Is Severance Pay Taxable?
In this episode, Timalyn discusses severance pay and the tax implications of receiving a severance package. She breaks it into 3 sections: What is severance pay? Is severance pay taxable? Why is my severance pay taxed at a higher rate? How to lower the taxes on your severance pay. If you are already facing a tax debt that you can't pay in full Timayn mentions episode 18 - How to Temporarily Delay IRS Collections as a resource for you to use to stop the IRS from using enforcement such as tax levies to collect from you. I...
2025-02-28
15 min
Tax Relief with Timalyn Bowens
Marriage & Taxes
In this episode, Timalyn walks the listener through a checklist of tax "to-dos" couples should complete before saying "I do." This list includes updating the taxpayer's address for communication with the IRS and adjusting their withholding. Below are resources to help you with both. Form 8822, IRS Change of Address Form Update Form W-4 One of the most difficult conversations for taxpayers to have with their future spouses is about finances. Timalyn discusses how a spouse's previous debts can affect the taxpayers filing together. A spouse can protect their share of a t...
2025-02-14
12 min
Tax Relief with Timalyn Bowens
The 2025 Tax Calendar
Timalyn comes back after a 10 month break from the podcast microphone with the 2025 tax calendar for US taxpayers. Listeners can find the tax calendar dates that Timalyn refers to in IRS Publication 509. Timalyn also announced that she is now accepting new tax preparation clients for the first time since 2020. If you are interested in having Bowens Tax Solutions prepare your 2024 taxes you can book an initial consultation at www.Bowenstaxsolutions.com As we conclude Episode 51, we’d like to encourage you to connect with Timalyn on social media. You’ll be able to subscr...
2025-01-31
19 min
Tax Relief with Timalyn Bowens
I am coming back!
2025-01-24
00 min
Small Business Marketing - Then and Now
Facing the Taxman- Timalyn Bowens of Bowens Tax Solutions, Episode 111
🎙 Facing the Taxman: A Conversation with Timalyn BowensDeath and taxes—the two guarantees of life. While we can’t dodge either, we can prepare for one of them! This week, I’m joined by Timalyn Bowens, the owner of Bowens Tax Solutions and “America’s favorite enrolled agent,” to talk about taxes and how to tackle them with confidence.Timalyn shares her journey from tax-averse college student to trusted expert helping small business owners navigate the often-overwhelming world of IRS compliance. We dive into the common challenges businesses face—missed fil...
2024-12-27
31 min
Tax Relief with Timalyn Bowens
Your Rights as a Taxpayer
Episode 50: In this episode, Timalyn explains your rights as a taxpayer. How do those rights balance with what the IRS’ mission is? You may have an opinion on how the IRS is doing, but either way, it’s a part of the government that definitely impacts your life. Taking a Quick Moment to Celebrate Before she begins, Timalyn is excited about having recorded 50 podcast episodes! It’s been a way for her to fill the tax literacy gap, one taxpayer at a time. It’s her hope that these easy to follow episodes breakdown complex tax issues in...
2024-03-22
19 min
Tax Relief with Timalyn Bowens
How to Qualify for an Offer in Compromise
Episode 49: In this episode, Timalyn continues the discussion began in Episode 48. Today, she’s explaining how to qualify for an offer in compromise. She’ll also provide information regarding how to apply for it. NOTE: Click here to listen to Episode 48. What Is the IRS Considering when You Apply for an Offer in Compromise? Remember, the offer in compromise allows you to settle your tax debt for less than you actually owe. The IRS doesn’t approve this option for every tax payer who applies. The IRS provides a pre-qualifier tool to see help you see...
2024-03-08
21 min
Tax Relief with Timalyn Bowens
What Is an Offer in Compromise?
Episode 48: In this episode, Timalyn explains an option some people have in resolving their tax debt. This option is referred to as an offer in compromise. Understand that not every tax payer qualifies for this, but you hear commercials about it all the time. Note: This is a complex topic and deserves more than a quick, 15-minute episode to fully explain it. The plan is to cover this topic in 2 separate episodes. The next episode will explain how you qualify for an offer in compromise, while this episode explains what an offer in compromise is. While...
2024-02-23
20 min
Tax Relief with Timalyn Bowens
Three Top Issues with Divorce and Taxes
Episode 47: In this episode, Timalyn discusses three top issues arise involving your taxes after a divorce. Divorce happens and Timalyn has worked with many clients who are caught in this situation. While she’ll focus on 3 important issues, that doesn’t mean those are the only issues related to divorce and taxes. Today, she’ll address filing status, claiming dependents moving forward, and dealing with a joint tax liability after the divorce. With that being said, let’s listen to Timalyn. Note to Tax Professionals: Timalyn is going to be teaching a class on Divorce and Taxes via the myCPE...
2024-02-10
22 min
Tax Relief with Timalyn Bowens
Options to Handle Your IRS Debt if You Cannot Pay It in Full
Episode 46: In this episode, Timalyn discusses 4 various options you have to handle your IRS debt, if you cannot pay it in full. While you need to pay your tax debt, there are ways to do it so that you’re not overly burdened. In addition to the lump sum payment, she’ll explain the offer in compromise, installment agreements, currently not collectible status, and bankruptcy. Have You Received an IRS CP504 Notice? If this is a letter you’ve already received, then you know the IRS is notifying you of their intent to levy. The reality is...
2024-01-26
19 min
Tax Relief with Timalyn Bowens
Understanding Your IRS Notice
Episode 45: In this episode, Timalyn discusses IRS Notices. She’ll explain what they are, why you’re receiving your IRS notice and how to read it. Then, she’ll provide some insights into the 3 types of IRS Notices that are currently being sent out fairly aggressively by the IRS. Love Letters from the IRS Timalyn lightheartedly refers to notices and communications from the IRS as love letters. In all reality, they can be extremely serious and require immediate attention. Once a client hires Timalyn to help resolve tax debt issues, she also receives copies of the same let...
2024-01-12
15 min
Tax Relief with Timalyn Bowens
A Holiday Message from Timalyn Bowens, EA
As 2023 comes to an end and we look forward toward 2024, Timalyn Bowens, America's Favorite EA, shares a few brief comments for her audience. It's been a long road, full of interesting twists and turns. Next year promises to bring more of the same. However, Timalyn is grateful for opportunity to continue her mission to close the tax literacy gap, one taxpayer at a time. She wishes you Happy Holidays for you, your family and your business.
2023-12-29
01 min
Tax Relief with Timalyn Bowens
Is Your Business Audit-Ready?
Episode 44: In this episode, Timalyn discusses issues related to tax audits. The fear people have about being audited is often paralyzing. It’s a serious issue and you need to be prepared to both avoid it and to know what you need to do if it happens. There are steps you can take to ensure your business is audit-ready. There’s No Such Thing as an Audit-Proof Return Regardless of what some tax professionals might claim, there’s no way to guarantee you won’t be audited. There are different types of audits and the selection “tr...
2023-12-15
22 min
Tax Relief with Timalyn Bowens
The Corporate Transparency Act
Episode 43: In this episode, Timalyn discusses the Corporate Transparency Act (CTA), which is not necessarily tax related, but US Treasury Department is in charge of the CTA. It’s a topic many will approach their tax professionals for explanations and advice. Timalyn will explain what it is, who’s in charge of it and who it affects. The Corporate Transparency Act was passed in 2021. It’s currently scheduled to go into effect on January 1, 2024. There is pressure to delay the date, but as of now, it remains set for January. What is the Corporate Transparency Act?
2023-12-01
18 min
Tax Relief with Timalyn Bowens
What Is Tax Planning?
Episode 42: In this episode, Timalyn speaks to individuals and business owners. Tax debt can be a serious issue, both financially and emotionally. When it comes to taxes, you need to have a plan. Failing to plan is planning to fail. But, what is tax planning? What Does Failing to Plan Look Like with Taxes? Assume last year you didn’t like your tax bill. It is now November and you are just beginning to think about your taxes, you didn’t really have a plan for 2023. You should have been developing tax reduction strategies and implementing...
2023-11-17
17 min
Tax Relief with Timalyn Bowens
3 Ways to Reduce Your Business Tax Liability
Episode 41: In this episode, Timalyn talks specifically to business owners. There’s a possibility that you either owe taxes now, or that you will owe them in the future. As a person whose focus is on achieving your business goals, let’s assume you’ve hit your income goal for the year. As you begin to pull together your information, you suddenly realize you owe taxes. Maybe you actually owe more this year than you did last year. Are you beginning to worry that the more you make, the more you’ll owe? Timalyn will provide 3 ways to reduce your business t...
2023-11-03
20 min
Tax Relief with Timalyn Bowens
What Is an Amended Tax Return?
Episode 40: Have you ever filed your tax return and then realized something doesn’t look right on the return? You have the right to file an amended tax return to correct mistakes and/or oversights. Timalyn will explain what this is and why you should file it. IRS Form 1040-X The IRS Form 1040-X Amended Individual Tax Return is the form you’ll use to correct your original return. There are other types of amended returns. Form 1065-X is used for Partnerships, Form 1120-X and 1120S-X are used for Corporation and S-Corporation amendments. For today’s episode, Tima...
2023-10-20
24 min
Tax Relief with Timalyn Bowens
IRS Form 433-F (Part 2)
Episode 39: In this episode, Timalyn continues her discussion of the importance of IRS Form 433-F when negotiating with the IRS. You may want to review Episode 38, which is Part 1 of the discussion. It’ll help you to better understand today’s episode. To listen to Episode 38, click here. What Is IRS Form 433-F? This is the Collection Information Statement. This is the form the IRS uses to collect a wide range of financial information including your income, debts, expenses and assets. When you’re attempting to negotiate with the IRS, you’re asking them to under...
2023-10-06
22 min
Tax Relief with Timalyn Bowens
IRS Form 433-F
Episode 38: In this episode, Timalyn is going to discuss a document that’s often used in tax relief negotiations, IRS Form 433-F. In her previous episode, she addressed the tax relief journey to try to make it easier to understand. Today, she’ll do the same with a form that plays a big role in your negotiations with the IRS. NOTE: Timalyn points out that you need to make sure you’re using IRS Form 433-F. There’s a similar document, IRS Form 433-F (OIC), that’s used when you’re making an offer in compromise. However, the “OIC” version...
2023-09-22
17 min
Tax Relief with Timalyn Bowens
The Tax Relief Journey
Episode 37: In this episode, Timalyn describes what happens during the process of you retaining tax representation. She provides explanations of what’s going to happen during the 3 phases of tax relief. Timalyn walks us through the onboarding process, the investigation phase, compliance and negotiation. While she’ll step in to represent you, it’s still a partnership and she’ll need your assistance. Timalyn begins by mentioning Episode 9, which explains the 3 phases of tax relief. However, people still have questions about the process itself. This discussion is based on her process. Other tax professionals may do it differently, and...
2023-09-08
18 min
Tax Relief with Timalyn Bowens
The Trust Fund Recovery Penalty
Episode 36: In this episode, Timalyn continues with a topic related to payroll taxes. Today, she’ll discuss the Trust Fund Recovery Penalty. It’s one of the biggest tax penalties the IRS can use. The penalty can be up to 100% of the taxes owed. Does she have your attention yet? Let’s listen to Timalyn discuss how to avoid this penalty. In episode 28, Timalyn discussed the IRS Accuracy-Related Penalty. This penalty can be 20% of the miscalculated tax. That seems like a big deal until you learn about the Trust Fund Recovery Penalty, which can be up to 100% of the unpaid...
2023-08-25
17 min
Tax Relief with Timalyn Bowens
The Importance of Payroll Taxes
Episode 35: In this episode, Timalyn focuses on the importance of payroll taxes. Paying employee taxes is a cost of doing business. If you have classified actual employees as independent contractors, you are guilty of tax evasion. The penalties are severe. The IRS Test to Determine Classification Properly classifying people who work for you is an important responsibility. The IRS has an online test to help you determine whether an individual should be classified as an employee or as an independent contractor or some other valid classification. If you are an employee working as an ind...
2023-08-11
19 min
Tax Relief with Timalyn Bowens
Tax Evasion vs. Tax Avoidance
Episode 34: In this episode, Timalyn discusses the seemingly controversial topic of tax evasion vs. tax avoidance. These terms have very different meanings, although some people mistakenly use them interchangeably. She’ll explain the terms and how to help you understand whether you’re attempting to do something illegal, or extremely (legally) beneficial. Tax avoidance is a legal strategy used to minimize your tax liability. The bulk of today’s episode will explore tax evasion. She will discuss the underground economy and why you need to stop participating in it. You could go to prison and be required to deal with...
2023-07-28
20 min
Tax Relief with Timalyn Bowens
What Is Tax Representation?
Episode 33: In this episode, Timalyn takes a step back to explain what she means when she uses the term tax representation. She mentions it in podcasts, but it’s term people may not fully understand. If you have tax problems with the IRS, there’s a good chance tax representation is exactly what you’re looking for, right now. Before she begins, Timalyn takes a minute to thank her listeners for helping her to reach 1,000 subscribers on her YouTube channel! She sincerely appreciates your support and helping her to continue on her mission to fill the tax literacy ga...
2023-07-14
20 min
Tax Relief with Timalyn Bowens
How to Remove a Tax Lien
Episode 32: In this episode, Timalyn will discuss the process remove a tax lien. She recently taught a class to a group of tax professionals. Many of them had questions related to this topic. Based on their responses, she thought this would be a good topic to share with actual taxpayers who follow her podcast. If you’re dealing with this situation, you’ve probably already received the IRS Notice of Federal Tax Lien. The IRS files this with your county clerk’s office. What Is a Federal Tax Lien? Timalyn explains that it’s when the IRS...
2023-06-30
19 min
Tax Relief with Timalyn Bowens
Sole Proprietor Taxes
Episode 31: In this episode, Timalyn focuses on preventative care for business owners. Today, she’ll focus on sole proprietor taxes. She reminds her audience that over 90% of the clients she works with, who owe back taxes they can’t pay, are business owners. Many of these clients are single-member LLCs, also referred to as sole proprietors. Let’s listen to Timalyn as she continues her mission to fill the tax literacy gap, one taxpayer at a time. Spotting the Red Flag Timalyn begins by commenting about a common question she receives. “I’ve filed my personal taxes...
2023-06-16
18 min
Tax Relief with Timalyn Bowens
Filling the Tax Literacy Gap
Episode 30: In this episode, Timalyn discusses her mission to fill the tax literacy gap. Many people, including business owners, don’t fully understand their taxes and what they sign each year. Timalyn will highlight some upcoming opportunities to help you to learn more. Welcome to the 30th episode of Tax Relief with Timalyn Bowens. Timalyn begins with some quick stats about podcasts. There are roughly 4,000,000 podcasts. However, in 2022, only 500,000 of those podcasts were considered “active.” To qualify, there only had to be 1 episode published in 2022. Thanks to your interest, this podcast continues to grow. What is the Tax Lit...
2023-06-02
17 min
Tax Relief with Timalyn Bowens
Understanding Your CP14 Notice
Episode 29: In this episode, Timalyn discusses the IRS CP14 notice. You’ll receive this form if you owe unpaid taxes to the IRS. It’s a demand for payment. So, what do you do now? Timalyn will provide all the information you need to know to handle this issue. Timalyn begins by pointing out that the IRS wants you to set up an account and ideally receive notifications electronically. This may or may not be the best route for you. Receiving important notices in the mail may be a better way of making sure you don’t miss out on i...
2023-05-19
17 min
Tax Relief with Timalyn Bowens
IRC 662 Accuracy-Related Penalty
Episode 28: In this episode, Timalyn discusses the IRC 662 Accuracy-Related Penalty. She’ll explain what it is, how it can be issued against you and how to avoid it. She’ll use the example of a live case involving Beyoncé Knowles-Carter. Timalyn begins by explaining how a case is in the US Tax Court, part of the Taxpayer Privacy Act no longer applies. This is why she’s able to find public information about the case involving Beyoncé. What is the Accuracy-Related Penalty? This penalty applies if you underpay the tax required to be shown on your...
2023-05-05
21 min
Tax Relief with Timalyn Bowens
IRS Appeals
Episode 27: In this episode, Timalyn is relaxing after the federal tax deadline. Today, she’ll discuss the IRS appeals process. Timalyn will discuss how to make an appeal and how it affects your current situation. You might find it helpful to go back and listen to Episode 26 on the IRS Collection Due Process. It sets up today’s topic. Let’s face it, nobody like to pay taxes. As an enrolled agent, Timalyn represents taxpayers in IRS proceedings. There are times when she doesn’t agree with a decision made by the IRS. That’s when IRS appeals...
2023-04-21
20 min
Tax Relief with Timalyn Bowens
IRS Collection Due Process Hearing
Episode 26: In this episode, Timalyn explains what happens when the IRS pursues payment from you for back taxes. She’ll discuss some of your taxpayer rights, even when you’re behind on your tax payments. Special Note: This episode’s launch will mark the podcast’s 1-year anniversary. Thank you for your continued interest and time. As we get started, please note the abbreviation CDP refers to Collection Due Process. Timalyn may use this abbreviation throughout this episode. When You Can’t Pay Your Taxes When this episode is released, the individual tax...
2023-04-07
17 min
Tax Relief with Timalyn Bowens
Tax Basics – Taxes 101
Episode 25: In this episode, Timalyn goes back to basics as it relates to taxes. She’ll discuss some common tax terms people misunderstand. Reviewing the basics will help you be prepared to sign your tax returns with confidence. Today, she’ll discuss our progressive pay system and 5 basic tax terms. Let’s get started. Timalyn has a blog post you might find helpful, 15 Tax Terms Every Taxpayer Should Know. She also has a YouTube video on the topic. Term #1: Tax Return The tax return is the form you use to file your taxes. For most individ...
2023-03-24
21 min
Tax Relief with Timalyn Bowens
Do I Need to File a Tax Extension?
Episode 24: In this episode, Timalyn discusses tax extensions. The tax deadlines are quickly approaching, so this information is extremely timely. She’ll explain what the extension is, what you need to do, and the IRS forms you’ll need. She will also discuss how an extension doesn’t prevent certain IRS penalties, even if you filed the tax extension properly. While there’s still time, many individuals and business owners may feel rushed to file their taxes. When that happens, mistakes often occur. Making mistakes on your tax filings can come with serious consequences. You don’t have to risk makin...
2023-03-10
17 min
Tax Relief with Timalyn Bowens
Which Type of Tax Professional Do I Need?
Episode 23: In this episode, Timalyn addresses a question she gets fairly often. Do I need a Tax Attorney, an Enrolled Agent, or a CPA? Timalyn’s mission is to fill the tax literacy gap, one taxpayer at a time, so she’s going to answer this important question for all of us. She begins by explaining the answer may depend on your situation. Each of the 3 types of tax professionals has different qualifications. She discussed this issue in Episode 16 (“How to Choose a Tax Professional”). Timalyn also strongly recommends that you research the individual befo...
2023-02-24
16 min
Tax Relief with Timalyn Bowens
What if I Can’t Pay My Taxes?
Episode 22: In this episode, Timalyn focuses on her passion. It’s helping you to face your biggest fear, the IRS. Timalyn explains that the majority of her clients are first-generation entrepreneurs. Today, she’ll provide advice many of them have needed and others will need. The Biggest Reason People Run into IRS Issues Timalyn comments the biggest reason people, especially entrepreneurs run into problems with the IRS is that they fail to pay their quarterly, estimated tax payments. Episode 21 focused on estimated tax payments. For W-2 employees, the employer automatically makes the tax withhold...
2023-02-10
14 min
Tax Relief with Timalyn Bowens
Estimated Tax Payments
Episode 21: In this episode, Timalyn discusses the confusion she encounters with some business owners. This involves the question of why they owe taxes. Often, the issue involves estimated tax payments. This episode isn’t only for business owners. Individuals may also need to make estimated tax payments. In today’s episode, Timalyn will explain what these payments are, who should make them, how to make them and when they need to be paid. Our Pay as You Go Tax System In the US, we are on a pay-as-you-go tax system. The IRS prefers taxpayers don’t wait until...
2023-01-27
18 min
Tax Relief with Timalyn Bowens
How Long to Keep Tax Records
Episode 20: In this episode, Timalyn explains the retention requirements for tax records. As an individual or a business, you need to hang on to your tax records for a period of time. It’s a common question Timalyn gets and today, she’ll walk you through what you need to do. Be sure to grab your pen and paper. How long should I keep my tax records for an audit? There’s not one single answer to the question of how long you need to retain your tax-related documents. There are different scenarios to be considered...
2023-01-13
19 min
Tax Relief with Timalyn Bowens
Holiday Message
Thank you for tuning in to Tax Relief with Timalyn Bowens this year! It would not have been a success without you listening, subscribing, and sharing. Enjoy the rest of this Holiday Season and come back in 2 weeks as we start 2023 off strong. Don't forget to connect with Timalyn on social media!
2022-12-30
01 min
Tax Relief with Timalyn Bowens
Which Parent Should Claim the Child on Taxes?
Episode 19: In this episode, Timalyn explains a tax issue related to separated and/or divorced parents, as it relates to claiming a child for tax purposes. This topic is confusing to parents, other tax professionals, and even some family law attorneys. Remember, regardless of what the divorce decree states, this issue is governed by federal tax law. They are completely different and guess which one has more authority? According to a Pew Research article, the US has the largest percentage of children living in single-parent households. So, if this is your situation, you’re not alone. In fact, 23...
2022-12-16
22 min
Tax Relief with Timalyn Bowens
How to Temporarily Delay IRS Collections
Episode 18: In this episode, Timalyn provides information on how to temporarily delay IRS collections. Notice, these delays are temporary, not permanent. The holidays can be difficult for many people. There are people who have felt so overwhelmed that they chose suicide as a way out from the weight of their back taxes. Timalyn hopes this episode will provide some light and hope so that won’t be an option for you. Before Timalyn begins, she reminds listeners of a valuable resource, if you are considering ending your own life: National Suicide Prevention Hotline: 1-800-273-8255 (available 24/7). There is...
2022-12-02
15 min
Tax Relief with Timalyn Bowens
3 Overlooked Tax Deductions for Business Owners
Episode 17: In this episode, Timalyn reminds us that we’re 6 weeks away from the end of the year. With that in mind, she’s offering 3 overlooked tax deductions for business owners. These deductions are not income-restricted. You can make as much as you want and still be able to put these tax deductions to work for you, assuming you actually made money in your business. It’s time to get your pen and paper. Let’s join Timalyn for today’s discussion. What Can You Do to Reduce Your Tax Liability? Timalyn begins with this important advice...
2022-11-18
14 min
Tax Relief with Timalyn Bowens
How to Choose a Tax Professional
Episode 16: In this episode, Timalyn shares her perspective on the question, “How to Choose a Tax Professional.” Entrusting someone to help you with taxes is an important decision you should make with careful consideration. This is even more vital when you have back tax issues. Timalyn begins with 2 disclaimers. First, she hasn’t been able to get to the podcast studio, so you may notice a slight difference in the audio quality. Second, Timalyn is recording this particular episode specifically for you; not for her own benefit. Timalyn no longer accepts tax preparation clients. This episode aligns with her mis...
2022-11-04
24 min
Tax Relief with Timalyn Bowens
Injured Spouse Tax Relief
Episode 15: In this episode, Timalyn discusses injured spouse tax relief: how do you know if you qualify, the difference between an “injured spouse” and an“innocent spouse” . She’ll also provide information about the proper IRS form to use when filing for Injured Spouse Relief. Click this link to go back and listen to the previous episode on Innocent Spouse Tax Relief. What Qualifies You as an Injured Spouse? To begin, you have to have filed a married filing jointly with your spouse. You then have a portion or all of your tax refund taken t...
2022-10-21
21 min
Tax Relief with Timalyn Bowens
Innocent Spouse Tax Relief
Episode 14: In this episode, Timalyn explains how a spouse may do something, or neglect to do something which results in significant tax issues. But what happens if you didn’t know what your spouse was doing? Today, Timalyn will discuss Innocent Spouse Tax Relief. It’s definitely worth the next few minutes to listen and learn. Note: Tax Relief with Timalyn Bowens is now available on Apple Podcasts! Timalyn begins with the example of a widow with limited income, working in a fast food restaurant. Her deceased husband ran a business and the IRS determined he had fil...
2022-10-07
14 min
Tax Relief with Timalyn Bowens
Retirement Income and Taxes
Episode 13: In this episode, Timalyn discusses retirement and taxes. Those topics were a result of some interesting conversations she recently had with her mother. The economy is turbulent and when combined with complicated tax laws, it can generate a lot of confusion. Timalyn is going to provide some interesting tips and perspectives for your consideration. Is Retirement Income Taxable? Timalyn reminds us that we may have different types of income during our retirement years. Most people have social security. You may have worked for a company that offered pension benefits. If you worked for the governme...
2022-09-23
16 min
Tax Relief with Timalyn Bowens
IRS Penalties: Removing them for Reasonable Cause
Episode 12: In this episode, Timalyn wraps up a 2-part series on getting rid of IRS penalties. This episode focuses on how to remove IRS penalties for a reasonable cause. It might surprise you, but there’s a process available, if you qualify. So, do you? Listen to this episode to find out. Note: To listen to Part 1, check out Episode 11 for the discussion of IRS Penalties: First Time Penalty Abatement. What is Reasonable Cause? Timalyn explains it’s when the IRS considers the situation and decides to waive the penalty. This process is different t...
2022-09-09
20 min
Tax Relief with Timalyn Bowens
IRS Penalties: First Time Abatement
Episode 11: In this episode, Timalyn begins a 2-part series on IRS penalty forgiveness. This episode focuses on first-time penalty abatement. Episode 12 will be about how to remove IRS penalties with a reasonable cause. Be sure to follow the podcast so in 2 weeks you don’t miss that episode. Today, Timalyn will discuss what first-time penalty abatement is, how you qualify for it and how you can get your penalties removed (if you qualify), today. What Is First Time Penalty Abatement? This can be confusing. Timalyn explains that penalty abatement is IRS forgiveness. If you negotiated to pay bac...
2022-08-26
16 min
Tax Relief with Timalyn Bowens
IRS Installment Agreements
Episode 10: In this episode, Timalyn discusses installment agreements related to your tax payments. She’ll explain how to set them up with the IRS when you can’t pay your taxes in full. Grab your pen and paper and let’s get started. Interesting Facts Did you know, according to a recent study by Amplify Media, Apple podcasts features over 2 million podcasts? However, 26% of those only have 1 episode. Of the 2 million+, 64% of them have fewer than 10 episodes. For this reason, Timalyn is pretty excited to be launching her 10th episode today. If you are new to this podca...
2022-08-12
18 min
Tax Relief with Timalyn Bowens
Tax Relief and 3 Important Phases
Episode 9: In this episode, Timalyn discusses tax relief. She’ll discuss what it is and how you can get tax relief. Most people don’t get excited about taxes. However, if you’re listening to this podcast, you’re probably trying to avoid tax issues or, unfortunately, you may have one or more right now. Timalyn will explain how you can find relief from those issues. If you are new to this podcast, feel free to visit the website and listen to previous episodes. What Is Tax Relief? Typically, it’s a government program to prov...
2022-07-29
17 min
Tax Relief with Timalyn Bowens
What Is Self-Employment Tax?
Episode 8: In this episode, Timalyn answers a question she’s heard many times, “What is self-employment tax? For a small business owner, this tax can be an unwelcome surprise when they go to file their tax return. It winds up hitting the business owner with a much larger tax liability than originally anticipated. Let’s join Timalyn for this episode to learn more. Self-Employment Tax and Divorce Timalyn shares a story about how a client ended up owing over $140,000 in back taxes, even though he had filed his taxes. His wife was ready to leave him because...
2022-07-15
19 min
Tax Relief with Timalyn Bowens
Tax Transcripts and What You Should Know
Episode 7: In this episode, Timalyn discusses the importance of your tax transcript. If the IRS has begun sending you letters about unpaid taxes such as failure to file notices or intent to levy notices. You need to act quickly. Timalyn explains why the tax transcript is the best place to begin. What Is a Tax Transcript? When clients hire Timalyn to represent them in tax relief matters before the IRS, one of the first steps she takes is to review the tax transcript. Your tax transcript lists everything the IRS recognizes as income for a parti...
2022-07-01
17 min
Tax Relief with Timalyn Bowens
Business Taxes – 5 Steps to Avoid a Tax Nightmare
Episode 6: In this episode, Timalyn discusses how, as a business owner, you need to take 5 steps to avoid a tax nightmare. Timalyn has seen many business owners actually go out of business because they either didn’t know about or avoided important steps related to taxes. Timalyn wants you to understand important tax issues, so you don’t run into problems with the IRS. You Don’t Know What You Don’t Know Timalyn comments that in our Do It Yourself (DIY) society, many people try to handle taxes on their own. If your income and expenses...
2022-06-17
38 min
Tax Relief with Timalyn Bowens
What Is a Tax Levy?
Episode 5: In this episode, Timalyn discusses one of the biggest fears taxpayers have. It’s when the IRS actually takes money out of your banking account or seizes other property. In Episode 4, she discussed issues related to getting a tax lien removed. This episode focuses on what happens if the tax lien is not successfully resolved. What Is a Tax Levy? A tax levy is a legal seizure of your property to satisfy a debt. This could be money in a bank account, a home, a car, a boat, etc. The IRS can legal seize up to 80% of your...
2022-06-02
21 min
Tax Relief with Timalyn Bowens
How to Sell Your Home with a Tax Lien
Episode 4: In this episode, Timalyn provides information for both the sellers and the buyers who are involved in a real estate transaction with a tax lien. If there is a tax lien on the property, it could cause a significant delay in the sale, but there are options available to help avoid or minimize the delay. Let’s join Timalyn to learn more. Timalyn discusses what a tax lien is and how it could affect you, in Episode 3. If you’re trying to sell a house, a tax lien could be a major obstacle. In this market, a seller...
2022-05-20
34 min
Tax Relief with Timalyn Bowens
What Is an IRS Tax Lien?
Episode 3: In this episode, Timalyn explains IRS tax liens and what you need to know to either avoid them or to get them removed. This is especially important if you are trying to sell a house with a tax lien. She’ll do her best to help you to avoid last minute closing delays. This episode just might save the sale all together. What Is a Tax Lien? A tax lien is when the IRS notifies all creditors that they have priority over any and all assets you have, due to a tax debt issue. Before this happens, the IRS wil...
2022-05-06
18 min
Tax Relief with Timalyn Bowens
What Happens if You Miss the Tax Deadline?
Episode 2: In this episode, Timalyn begins talking about what you should do if you’ve missed the tax filing deadline. This issue is more common than people would think. Okay, it happened. Now what? Let’s listen to Timalyn, America’s Favorite EA explain what you need to know and how to begin resolving this issue. The first action item is to breathe. It’s not the end of the world, but it’s also not time to simply sit back and procrastinate even longer. Timalyn explains the importance of filing that return as soon as possible. There are many pen...
2022-04-22
33 min
Tax Relief with Timalyn Bowens
What is an Enrolled Agent?
Episode 1: In this premiere episode, we discuss how Timalyn got her start in accounting, who she is, what she does and how she can help you with your tax issues. Timalyn is America’s Favorite EA. She’ll explain what an EA (Enrolled Agent) is and why this designation is important for people with IRS problems. Originally from Evansville, IN, Timalyn moved to Louisville, KY and attended Bellarmine University. She studied accounting. Even as a child, she knew being an accountant was what she wanted to do as a career. She explains how a deacon in her father’s church introduced h...
2022-04-08
18 min
Tax Relief with Timalyn Bowens
Get Ready for Tax Relief with Timalyn Bowens
Did you know as of 2019, 20.1 million people owe the IRS and can't pay. Taxes may be ruining your life. Timalyn Bowens is here to help. As an Enrolled Agent ("EA") she's authorized to represent taxpayers before the the IRS and all 50 states. Listen to Episode 1, which launches on 4/08/22 to learn how she can help you.
2022-04-06
01 min
Tax Relief with Timalyn Bowens
Timalyn Is Launching a Podcast
Timalyn Bowens is launching a new podcast on April 8, 2022. Get ready for the Tax Relief with Timalyn Bowens Podcast! Are you behind on taxes? Is the IRS threatening you or your business? Are you overwhelmed or confused about how to resolve your tax issues? Let's join Timalyn as she explains your options and how she may be able to help. Timalyn Bowens is America's Favorite EA.
2022-03-28
01 min
SDR's Business Basics
5 Common Tax Mistakes Entrepreneurs Make
Learn 5 common tax mistakes entrepreneurs make that you don't want to make too. Hosted by: Safietou D. Russell, CPA, EA, MSTGuest Speaker: Timalyn S. Bowens, E.A.Learn more about SDR Consulting Inc here: https://www.sdrconsultinginc.com/
2022-02-17
37 min
Bellarmine On Business
Tax Considerations for Small Business and Self-Employed Tax Payers
Episode 17: In today’s episode, host Jim Ray is joined by Alisha Harper, Professor of Accounting, and Timalyn Bowens of Bowens Tax Solutions (also a graduate of Bellarmine’s Rubel School of Business). Today’s we’re focusing our discussion around disregarded entities (“flow entities”), such as LLCs, LLCs filing as S-corporations, Partnerships, etc. Disclaimer: The views and opinions expressed during the Bellarmine on Business podcast do not necessarily reflect those of Bellarmine University, its administration or the faculty at large. The episodes are designed to be insightful, thought-provoking and entertaining. Want to Listen to Additiona...
2022-01-31
40 min
The Plentiful Wealth Perspectives Podcast
Resolving Tax Issues with Timalyn Bowens
Episode 7: Certified Financial Planner Jeb Jarrell interviews EA Timalyn Bowens of Bowens Tax Solutions. An EA is an Enrolled Agent. As an EA, Timalyn is a tax professional who can handle returns and other related activities. However, an EA is also licensed by the IRS to represent tax payers in all 50 states. Let’s join today’s conversation. Meet Bowens Tax Solutions Timalyn started her company 5 years ago. She has a passion for tax law. In addition to preparing tax returns, she represents tax payers who are in trouble with the IRS and can’t effectively r...
2022-01-14
33 min
Plentiful Wealth Podcast
Resolving Tax Issues with Timalyn Bowens
Episode 7: Certified Financial Planner Jeb Jarrell interviews EA Timalyn Bowens of Bowens Tax Solutions. An EA is an Enrolled Agent. As an EA, Timalyn is a tax professional who can handle returns and other related activities. However, an EA is also licensed by the IRS to represent tax payers in all 50 states. Let’s join today’s conversation. Meet Bowens Tax Solutions Timalyn started her company 5 years ago. She has a passion for tax law. In addition to preparing tax returns, she represents tax payers who are in trouble with the IRS and can’t effectively r...
2022-01-14
33 min
Two Mamas and a Mustard Seed
Listen to: Timalyn S. Bowens on Finance, Part 2
In this episode Renee and Kisa continue their discussion on Finance with Timalyn S. Bowens, owner of Bowens Tax & Bookkeeping Solutions. They discuss median income, salary negotiations, and the importance of business mentorship. They also share a digital platform helping to recirculate the Black dollar and strengthen the local economy in Black communities. Pull up a chair and have a seat at the table with Kisa, Renee, and Timalyn for this important conversation.
2021-04-05
24 min
Two Mamas and a Mustard Seed
Listen to: Timalyn S. Bowens on Finance, Part 1
Timalyn S. Bowens got her start in the corporate world but left to begin her own business. She owns Bowens Tax & Bookkeeping Solutions. Timalyn will dialogue with Renee and Kisa about the stark racial inequality of personal finance in America, the racial wealth gap, and student loans. We will also talk about building wealth and getting ready for retirement. In this episode we also honor Annie Turnbo Malone, one the nation's first Black female millionaires.
2021-03-29
30 min
Starting Nowhere
Starting Nowhere Ep 26 Ft Timalyn Bowens
This Episode features Timalyn Bowens. *Note* Since this was filmed some changes have been made to filing 2020 taxes. A. The filing deadline has been extended to 17 May 2021 B. The first $10,200 of unemployment benefits is not-taxable. Timalyn is a Enrolled Agent that specializes in helping clients who find themselves in tax trouble. We discuss whether rich people pay taxes, unique tax implications of your 2020 taxes, and some tips on how to protect yourself and your money. Find more of Timalyn at the links below: Youtube: https://www.youtube.com/channel...
2021-03-28
1h 18
Wealth Empowerment State of Mind
Episode 7: Timalyn Bowens - Bowens Tax & Bookkeeping
Linda Ruffenach sits down with Timalyn Bowens, Owner and Operator of Bowens Tax & Bookkeeping. With her experience as an Enrolled Agent, licensed through the IRS, Bowan shares her beliefs in preventative measures and strategic tax and budget planning to achieve profitability. She's recently launched a YouTube channel to further engage small business owners with sound tax advice. "You don't need to be perfect. Just fail forward and keep going." -Timalyn Bowens https://www.bowenstaxsolutions.com/home Find Timalyn Bowens on FB & LinkedIn https://www.execuity.com/
2021-02-02
32 min
Wealth Empowerment State of Mind
Episode 7: Timalyn Bowens - Bowens Tax & Bookkeeping
Linda Ruffenach sits down with Timalyn Bowens, Owner and Operator of Bowens Tax & Bookkeeping. With her experience as an Enrolled Agent, licensed through the IRS, Bowan shares her beliefs in preventative measures and strategic tax and budget planning to achieve profitability. She's recently launched a YouTube channel to further engage small business owners with sound tax advice."You don't need to be perfect. Just fail forward and keep going."-Timalyn Bowenshttps://www.bowenstaxsolutions.com/homeFind Timalyn Bowens on FB & LinkedInhttps://www.execuity.com/
2021-02-02
32 min
Dollars to Doors
Episode #58 Bowens Tax Solutions- Timalyn Bowens
In this Episode Timalyn Bowens joins me to discuss the services her business, Bowens Tax Solutions offers. We dive deep into Timalyn's experience, services, and success tips! Check it out! Individual Tax Consultation Insurance Agent Accelerator Consultation Small Business Accelerator Consultation Contact Timalyn Bowens- Get your FREE report: 7 Things the IRS Doesn't Want You to Know on our website Like Us on Facebook Bowens Tax & Bookkeeping Solutions, LLC
2020-12-10
1h 00
Let's Get To It
Episode 04: Race & Faith: Timalyn Bowens & Amanda McMonigle
Kelly talks to Timalyn Bowens & Amanda McMonigle about Race & Faith. Timalyn & Amanda are co-facilitators of the Louisville chapter of Be The Bridge, a non-profit organization whose goal is to create healthy dialogue about race in the United States.
2020-10-20
47 min