How to Handle IRS Audit Notice CP2000
How to Handle IRS Audit Notice CP2000 If you receive an IRS Notice CP2000, what do you do next? An IRS Notice CP2000 means that you are under IRS audit and should be handled seriously and urgently. Remember, being audited can expose you to legal and financial risk. Here is a list…
6 Red Flags That Can Trigger an IRS Audit
6 Red Flags That Can Trigger an IRS Audit The thought of having their tax return audited by the IRS is a huge fear of many Americans. Realistically, the odds of being audited are pretty low. Still, have you ever wondered what causes some tax returns to be audited and not others? …
Happy Holidays!!
Happy Holidays!! With so much focus on our Tax Matters practice, sometimes we forget just to stop to say THANK YOU! You have been a part of our year, no matter whether you’re a client, business owner, fellow accountant, or fellow lawyer. Our Tax Law Offices have enjoyed helping solve IRS tax problems for you and…
Completing Form 433-D Installment Agreement After IRS Audit
Completing Form 433-D Installment Agreement After IRS Audit First, let’s be clear: IRS audits are the worst!! After a tax audit, you may owe money to the IRS. Most people cannot pay off the amount due all off at once. In that case, the IRS offers a monthly payment plan called the Installment…
Deadline is September 30th to Refund IRS Penalties
NEWS ALERT! IRS PENALTY RELIEF DEADLINE IS SEPTEMBER 30, 2022 Instant Penalty Relief for 2019 and 2020 Returns due to COVID Delays On August 24, 2022, the Internal Revenue Service (“IRS”) issued Notice 2022-36, which provides Penalty Relief to individuals and businesses who have filed, or will file certain 2019 or 2020 returns late. …
Cryptocurrency Savvy – Know What the IRS Knows
Cryptocurrency Savvy – Know What the IRS Knows Have you wondered what the government knows about your crypto transactions? If cryptocurrency investment is supposed to be encrypted and private, what does the IRS get to see? There are three main sources of information the government gets: 1.) Voluntarily provided data. This is…
100% Tax Write-Off for Your Super Bowl Party Right Now!
100% Tax Write-Off for Your Super Bowl Party Right Now! A completely tax-deductible Super Bowl party probably sounds too good to be true, but trust us, it’s 100% possible! Meal and entertainment tax deductions for small businesses can be confusing. Some meal and entertainment items are 100% deductible, some things are only…
Top 3 Tax Tips for Gig Economy Workers
Top 3 Tax Tips for Gig Economy Workers If you work for yourself, this is a must-read! The gig economy continues to grow with no signs of slowing down. In addition, companies like Uber and DoorDash have made it even easier for people to make money outside of traditional employment. However, those working…
3 Top Tips – Handling IRS $600 Venmo-CashApp Rule
3 Top Tips – Handling IRS $600 Venmo-CashApp Rule For most of us, $600 is not a life-changing amount of money. But, now, with IRS’s new rule – it could be. As of January 1st, 2022, if you receive more than $600 from payment apps such as Venmo, CashApp, or Zelle, it will…
How Long Can IRS Collect Tax Debt?
How Long Can IRS Collect Tax Debt? Potential clients often ask: How long can IRS collect this tax from me? This is our Morning Coffee Series, and we’re going to answer that question. How long can the IRS collect tax liability? Generally speaking, the IRS can collect tax for ten…
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