Tax Transcripts - Why They Matter I am going to share a little inside baseball to those of you reading this post. I can, 95% of the time, know how to resolve a client's case from reading tax transcripts. Tax transcripts are the...
IRS Final Notice of Intent to Levy. Now What? In my prior post, I described how the IRS bills taxpayers. One of those dreaded letters is the final notice of intent to levy. If you see the following line on your IRS notice, sit up and take...
What Do All These IRS Collection Letters Mean?! The IRS is the collection arm of the US Treasury. If you've never paid all your bills on time, you know that you will very likely get a letter asking for payment. The IRS is no different....
Tax Returns and Divorce Taxes are one of life's inevitables. You cannot avoid it even while getting a divorce. In this blog post, I lay out three things to understand when dealing with tax returns in divorce. Why you need to get advice...
Hidden Tax Traps in Divorce Your Attorney Won't Tell You About Look. Your attorney is doing the best job he or she can. Family law is what they do day in and day out. He or she is just not a tax expert and may not know about all the tax...
If you IRS on the Hunt This summer the IRS issued 10,000 letters to taxpayers who it believes should have reported virtual currency sales (also called cryptocurrency). Virtual currency, in a nutshell, is a digital unit of value. So like...
What The?! Your first question, logically, is what the heck do these three things have in common? Read on... Just Plain Stubborn I love my son but he is very very stubborn. He is 3 years old and we are in the process of potty training...
What to Do If You Cannot Pay Your Taxes?! I prepared a video, something I intend to do more of, discussing the first thing you need to understand if you cannot pay your taxes: get current. Current compliance is very important when dealing...
In my last blog post I talked a bit about the three types of offers-in-compromise. Offers as to doubt as to collectability make up a large majority of offers made to the IRS. The key to making a successful offer based on doubt as to...
If You Love to Travel but Owe Back Taxes Your Passport May Be at Risk. You may be aware of it but the IRS the right to suspend your passport. All it takes is a tax debt of $51,000, to included interest and penalties. Your vacation cruise...
How the IRS Collects Back Taxes I posted a video on my youtube channel about the IRS collection process. If you owe back taxes, you need to understand how the IRS goes about collecting it from taxpayers. As the old G.I. Joe cartoon said,...
What to do with the IRS Final Notice? If you receive an IRS final notice of intent to levy, you need to act now! Recently, I blogged about IRS collection notices. For the most part, IRS collection notices are just reminders to pay your...
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