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Receiving a notice from the IRS can be stressful, but it’s important not to ignore it. In June, millions of taxpayers will receive CP14 notices by mail, informing them of their balance due for unpaid taxes. Several times the notices are wrong, and even if they are right, they impose time deadlines to protect yourself … Continued
The Department of Justice announced last month that a Home Improvement Contractor was sentenced to two years in jail for failing to pay payroll taxes he collected from his employees. In addition to 2 years in jail he was ordered to pay restitution of over $1 million. Unfortunately for Jay Prather of Heritage General Building … Continued
You betcha! The IRS and the State Tax Division has the right to confiscate your right, title and interest in any asset you own, including your car. That does not mean they will seize your vehicle and sell it, although they do have the right to do that. The IRS and the State Division of … Continued
cash sales need to be reported or you get a tax audit
Filing federal tax forms is one of those annual events that most people view as a hassle and not everyone can afford the taxes they owe, particularly in the era of the Covid pandemic. In fact, the back taxes owed by US taxpayers exceeds $130 billion dollars. Collecting on the back taxes is part of … Continued
Frustrated with not getting through the IRS? Only 3% of the calls from the general public number ever get through to a person according to according to Eric Collins, of the National Taxpayer Advocate’s office. Even the practitioners phone line is up to a 3 hour wait. For the past year, I have been telling … Continued
You happily open the mail, until there it is: A letter from the IRS. Your stomach goes into a pit. You open it with dread and the paper has in bold print Notice of Federal Tax Lien. A Notice of Federal Tax Lien (NFTL) is a public record and is generally filed with the County … Continued
Ir you have filed jointly with your spouse and your spouse owes the RIS money, you will receive notices too. This often happens when your spouse owns his own business and files a schedule C. But sometimes if your spouse prepares the tax return, you may not know why you owe taxes or what the … Continued
The IRS has warned about a new tax scam involving fake CP2000 notices. If income from a W-2 or 1099 does not match the income reported on a tax return, the IRS sends a CP2000 notice. The notice is always sent by the IRS via mail. It is NEVER emailed. In the new scam, a … Continued
An owner of an ice rink and sports facility was sentenced to 48 years in prison for not paying $790,000 of employment taxes to the IRS from 2012 to 2015. The position of the IRS is that business owners and operators who choose not to pay the United States tax money they withheld from their … Continued