IRS Audit? What Does It Really Mean To Be Audited?

IRS Audit? What Does It Really Mean to be Audited? IRS Audit? What does it mean to be audited? Most people think of the word “audit” as one of the worst five letters words in the English language. But in many cases, the fear of it is actually worse than the audit itself. It helps if you understand your rights as …

Al Capone Sent To Jail For Tax Evasion

  Al Capone: Criminal Earnings are Taxable Income Al Capone was a famous gangster who was charged with the most severe tax crime: tax evasion. After he was imprisoned for just nine months for carrying a concealed weapon and two months for contempt of court, the feds began to build up a case of tax evasion against him. With millions …

Only 50 Days Until Your Income Tax Form Is Due

In only 50 days your income tax form is due to be filed with the IRS. For many of our clients, this is easy, they have a W-2 from their employer and their other tax information is easy to put together. They can look forward to receiving tax refunds. However, most of our clients are self-employed and that means that …

That IRS Letter In Your Mailbox Is Trouble

Imagine this you just opened your mail box and found an IRS Notice of Deficiency Letter, now start to shake and sweat- you knew this day was coming. That IRS letter in your mailbox is trouble. But now you just don’t know what to do. We can help we work with the IRS everyday of the week. Question. What do …

This IRS Letter Brings Bad News!

This IRS Letter Brings Bad News! Notice (Letter) of Underreported Income – CP-2000 Taxpayers receive notice CP-2000 if they do not report income on their return that was reported to the IRS by a payer. Also, if the IRS believes that payments, credits and/or deductions are overstated on the return, they may send notice CP-2000. The adjustment(s) to the return …

IRS “90 Day Letter” – Is Bad News For You

Notice of Deficiency – CP3219 Notice CP3219 is also known as the “90 day letter”, or the statutory notice of deficiency. Taxpayers receive this notice when the IRS has determined that they owe taxes. Taxpayers may owe back taxes due to the removal of certain credits or deductions that they do not qualify for, or possibly the exclusion of certain …

IRS Collection Letter (CP90) Can Ruin Your Life- We Can Help

  Final Notice of Intent to Levy – CP90 IRS Collection letters always spell trouble in your future, The Final Notice of Intent to Levy – CP90 means that without further notice the IRS is going to take you wages, your bank account or your Social Security next. Notice CP90 is received when a taxpayer owes back taxes, and did …

IRS Letter Demands Money – All Of It! Now!

The first IRS letter that you will receive when you owe back taxes demands money – all of it -right now! It is guaranteed to ruin your day, but we can help. We know the IRS because we were the IRS for many years. The First Collection/Balance Due Demand  Letter is CP501/CP502 and it is scary for most people. Taxpayers …

Oops – Did You Forget To File Your Tax Returns?

Did you forget to file your tax returns? The IRS knows when you don’t file, you cannot just “drop out” of the system. The IRS sends Notice CP59 ( its a letter) when a taxpayer does not file his or her tax return. If you were required to file and you did not file your return, you might receive this …