In this month's episode, I discuss IRS tax transcripts and how to order them. Additional Resources: IRS Get Transcript Transaction Codes Pocket Guide IRM 21.2.3 Transcripts New Transcript Format FAQs Change of Address (Individual) Change…
What is the Statute of Limitations on IRS Refunds, Audits and Collections?
This month I discuss the law governing IRS refunds, audit and collection timeframes. Additional Resources: Don't Lose Your Refund by Not Filing IRS Statute of Limitations - Processes and Proc. IRM - Collection Statute Expiration…
What is an IRS Tax Audit?
In this month's episode, I discuss the ins and outs of IRS tax audits. Additional Resources: IRS Audits (Overview) Dealing with An IRS Audit (Blog Post) Pub 549 - IRS Collection Process Applicable Law: Collection…
How Do I Get an IRS Penalty Abatement?
In this month's episode, I discuss how to legally reduce IRS penalties. Additional Resources: IRS Penalties (Overview) Failure to File Penalty Failure to Pay Penalty Accuracy Related Penalty Failure to Deposit Penalty Applicable Law: Failure…
What Is an Offer In Compromise (OIC)?
In this month's episode, I discuss the ins and outs of an IRS Offer In Compromise (OIC). Additional Resources: OIC Pre-Qualifier Tool Understanding Your Tax Bill Offer In Compromise FAQs Referenced Forms: OIC 433(A) Individual…
What Do I Do if I Have Unfiled Tax Returns
In this month's episode, I discuss the steps you need to take to regain filing compliance with the IRS. Additional Resources: Applicable Law: 26 IRC § 301.6020-1 Filing Past Due Returns (Small Business Owners) Unfiled…
The 4 Best Ways to Get a Tax Levy Lifted
There are several ways the IRS can issue tax levies on your property (i.e. wages, bank/retirement accounts, etc.). The question is- how do you get it lifted? Thankfully, there are different options available so that…
How Do I Ask the IRS for More Time to File My Tax Return?
In this month's episode, I discuss the steps you need to take to file an extension on your tax return. Additional Resources: IRS Website - Information For Expatriates/Living Abroad Referenced Forms: Form 4868 Form 2350
Why Did The IRS Take My Refund?
Even though we are in the midst of the coronavirus pandemic, and the tax filing deadline has been pushed back, millions of Americans who are required to file their tax returns will get a surprise…
3 Reasons to Resolve Your IRS Tax Debt Now
Do you owe money to the IRS? If you do, you’re not alone. The Internal Revenue Service (IRS) found that more than 14 million Americans owed over $131 billion in back taxes, penalties, and interest…