Have you received a letter from the IRS stating that you owe taxes even though you paid it? Or that you have an unfiled return even though you’ve filed it? You’re not alone. The IRS says it is aware of the problem and is assisting taxpayers by suspending certain automated notices. The IRS is entering … Read more
The IRS recently announced The People First Initiative to provide compliance relief to taxpayers experiencing COVID-19 related hardships. It released a FAQ to address how taxpayers undergoing audits or have collections and other issues can proceed. Here’s how it impacts you. If you owe back taxes IRS is not forgiving tax debts and balances will continue … Read more
In its May 29, 2020 report, the Treasury Inspector General for Tax Administration (TIGTA) admonished the IRS, finding that high-income nonfilers owing billions of dollars are not being worked by the Internal Revenue Service. The report notes that “pursuing nonfilers is one of the IRS’s most efficient enforcement strategies because issuing nonfiler notices can be … Read more
If you haven’t filed your tax returns in a while, how do you get back into compliance? Do you need an attorney? Many people are able to file their back tax returns using TurboTax or other tax software. You might need a CPA or attorney in some cases You may need to retain a tax … Read more