What Is IRS Letter CP508C? 2022 Update
March 14, 2022
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What Is IRS Letter CP508C? The IRS sends Letter CP508C as a notice to taxpayers who have a seriously delinquent tax debt, advising them of
Payroll Tax Penalty Commonly Asked Questions and Answers – The Trust Fund Recovery Penalty
October 30, 2020
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Compiled from the cases worked, here are the most common Payroll Tax Penalty Questions and Answers. TFRP – also known as the Trust Fund Recovery
Restaurant Payroll Tax Problems
October 21, 2020
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With Heavy Staffing, Complex Tip Reporting and Low Profit Margins, Restaurants commonly face payroll problems that land them in trouble with the IRS.
How Does the Trust Fund Recovery Penalty Investigation Work?
October 21, 2020
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Here is what to expect from a Trust Fund Recovery Penalty Investigation
Solid Reasoning or Flimsy Excuse? When the Streamlined Filing Form 14653 / 14654 Narrative Makes Sense, and When it Means Trouble
October 12, 2020
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In the right circumstances, joining the streamlined Filing Compliance program to report foreign financial accounts can be a quick and cost-effective way to become fully compliant with IRS requirements. But streamlined filings can be exceptionally risky. We take extra care to ensure that our clients understand the dangers that attend streamlined filings, and that both the letter and the spirt of the streamlined compliance program are fully honored. The key aspect being the form 14653 / 14654 narrative.
2020 – 2021 Streamlined Filing Compliance Procedure and the Penalties Associated With It
October 11, 2020
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IRS Passport Revocation 2020-2021 Update – The CP508C IRS Letters Are Not Stopping
October 11, 2020
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After the grace period for resolving seriously delinquent tax debt ended in July 15, 2020, IRS has continued to certify federal tax defaulters for possible passport revocation, denial, or imposing limitations on current passports.
IRS Passport Revocation – Letter 6152 And What it Means for Your US Passport
October 10, 2020
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While you may have an idea as to what this means based on the previous section, it is vitally important to understand what it actually means. Passport revocation is a tool created for the IRS that gives them the power to revoke or deny the passport of any taxpayer with delinquent tax debt. The legislation involved dictates that the debt must be defined as “seriously delinquent”.
Unreported Foreign Foreign Bank Accounts in 2020 – 2021 under the Streamlined Filing Compliance Procedures
October 9, 2020
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If you have unreported foreign bank accounts, foreign corporations, or other foreign assets but otherwise reported all your taxable income, then you may consider using the streamlined reporting process.
IRS Passport Revocation: It Will Continue For Americans Who Owe More Than $52,000 In Overdue Taxes
October 5, 2020
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The Internal Revenue Service (IRS) has made it clear: it will revoke U.S. passports for Americans who owe more than $52,000 in overdue taxes.
