irs: Bucks & Montgomery PA - What is IRS notice LT11 - Letter 11
- 07/12/21 11:59 AM
I represent taxpayers in Bucks and Montgomery county PA who have tax issues. This week we will discuss LT11. What is LT11 (IRS notice Letter 11) ? LT11 is an IRS notice you cannot ignore. LT11 says to the taxpayer that the IRS is going to levy your bank account or wages. LT11 usually arrives via certified mail. (Most very important notices from the IRS arrive via cerified mail). Inside LT11 is your Appeals Rights! It is critial that you or your representative files the CDP (Collection Due Process) request within 30 days from the date of the letter. In doing so, we can … (1 comments)
irs: Bucks & Montgomery PA - What is IRS Notice CP2000 and what do I do??
- 06/14/21 12:45 PM
I represent taxpayers in Bucks and Montgomery county PA with tax issues. Today's topic is what is a IRS Notice CP2000 and what do I do about it? I have recently seen an uptick in IRS notices CP2000s. A CP2000 notice results when the IRS records (W-2 or 1099 information for example) do not match what is showing on your tax return. The CP2000 notice will propose changes to your tax return. This does not mean you are being audited, but a discrepancy on your return that needs to be resolved. You should review the proposed changes. If you do not agree … (0 comments)
irs: Bucks & Montgomery PA - Have not filed a tax return ? No Problem
- 06/09/21 05:42 AM
I represent taxpayers in Bucks and Montgomery county PA who have tax issues. Haven’t filed a tax return in a while ? Do I have file every return that I missed? What if I have not filed in 5 years? Or 10 years? What if I do not have the records anymore? No Problem. The IRS only requires a taxpayer file the last 6 years to be compliant. (IRS Policy Statement 5-133). Here is a roadmap to get back into compliance. The first step is to gather your records so we can prepare your tax returns. If you an employee, find your W-2 … (0 comments)
irs: Where's MY Stimulus Check ? Bucks & Montgomery County PA
- 02/14/21 10:59 AM
I represent taxpayers who have IRS issues in Bucks and Montgomery county PA. You need to a file a tax return in order to get your stimulus check! If you did not file in 2018 or 2019 and you qualify for a stimulus check, you need to file your 2020 tax return to take advantage of the benefit through the Recovery Rebate Credit. I have seen an uptick of non-filers looking for their stimulus payments. In March 2020, the first round of stimulus checks went out individuals with adjusted gross income up to $75,000 and couples who made $150,000 in 2018 or … (0 comments)
irs: Bucks & Montgomery County PA: Tax Time is Here !!!
- 02/04/21 11:05 AM
I represent taxpayers who have IRS issues in Bucks and Montgomery county PA. 2021 Tax Season starts Feb. 12th The Internal Revenue Service announced that the nation's tax season will start on Friday, Feb. 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The Feb. 12 start date for individual tax return filers allows the IRS time to do additional programming and testing of IRS systems following the Dec. 27 tax law changes that provided a second round of Economic Impact Payments and other benefits. Most people with gross income of $12,400 or more must file a federal tax … (1 comments)
irs: What is the 10 year Collection statue Bucks / Montgomery PA?
- 01/16/21 11:44 AM
I represent taxpayers in Bucks and Montogomery county PA with tax issues. Today, I will briefly discuss one of the 10 year Collection statute & why it is so important. How long does the IRS have to collect money from me? The answer is typically 10 years from the assessment. However, there are some exceptions. First, the IRS cannot collect any money from you until there is an assessment. What is an assessment? An assessment is simply the recording of your liability with the IRS. What makes an assessment significant is the IRS cannot collect any money from you until there is first an assessment. With our voluntary tax … (1 comments)
irs: Bucks and Montgomery County, PA - What is a Tax Levy?
- 12/24/20 07:19 AM
I represent taxpayers in Bucks and Montogomery county PA with tax issues. Today, I will briefly discuss one of the most powerful tool's in the IRS' toolbox: Tax Levy. What is a tax levy? The IRS using its authority gain possession of a taxpayer's property without going to court. A tax levy could take cash from your bank account (regular levy) or take your wages or routine paid commissions (continuous levy). Why does the IRS use tax levies? A tax levy is designed to get the taxpayer's attention. A tax levy is designed to hurt. Can the IRS take my house? Yes, but only … (1 comments)
irs: Bucks County, PA: IRS Priority #1 = High income Non-filers
- 12/03/20 01:06 PM
I represent taxpayers in Bucks and Montgomery County and the rest of the Philadelphia area with tax issues. Today, the IRS reinforced on their website (www.irs.gov) their highest priority right now is High Income / Non-Filers. Eric Hylton, Commissioner, Small Business/Self Employed, explained the IRS started this initiative in early 2020 and even in a challenging year with COVID-19, the IRS has not lost focus on identifying and pursuing high income non-filers. "Why do this? Plain and simple, it's about fairness. Our pursuit of these high income non filers provides an important service and shows respect to the majority of Americans who pay … (0 comments)
irs: Happy Halloween Bucks County, PA - Don't be Afraid, IRS is not Scary!
- 10/31/20 06:36 AM
Happy Halloween Bucks County, PA - Don't be Afraid, the IRS is not so Scary! I represent taxpayers who have IRS's issues in Bucks County PA and a lot of clients come to me just after receiving a tax notice from the IRS. Most people's reaction when they receive a notice from the IRS is a gut wrenching pit in their stomach. There is a sudden anxiety that overcomes you. So what do they do? They choose not to open the mail. "If I don't open it, it doesn't count...right?" Wrong! OPEN YOUR MAIL! The IRS issue does not go away, because … (2 comments)
irs: Bucks and Montgomery County PA: What to do if you have not filed tax returns
- 10/01/20 03:57 PM
I represent taxpayers in Bucks and Montgomery County and the rest of the Philadelphia area with tax issues. I have recently seen an uptick in individuals who have not filed tax returns, some for many years. In fact, the non-filer issue is a major priority of the IRS, who have stated publicly that they have identified more than 10 million taxpayers who have failed to file returns, many of which voluntarily came forward looking for economic stimulus checks earlier this year. In coming weeks, the IRS plans to roll-out an initiative to target these non-filers. In addition, it is worth noting that the … (5 comments)
I represent taxpayers in Bucks and Montgomery county PA who have tax issues. This week we will discuss LT11.
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