A notice from the IRS can worry most taxpayers. A CP2000 notice is a notification from the IRS that the income or payment information does not match the tax information provided in...
Posted by Unifirst Financial & Tax Consultants on 11/28/2021
When tax season is upon us, it is usually when tax professionals get panic questions from clients who are being audited by the Internal Revenue Service (IRS) because they haven't...
Posted by Karen Munoz, EA on 08/15/2021
Did you make a mistake in your tax return, or did you notice that you lost a valuable tax credit or deduction? You can file an amended return to effect the correction. Filing an amended...
Posted by Abundant Wealth Planning LLC on 07/17/2021
Reasonable cause is based on objective facts and circumstances. What constitutes "reasonable cause" under code section 6651 to avoid penalties for failure to file an...
Posted by The TaxAdvocate Group, LLC on 04/06/2021
The only thing we want from Uncle Sam is our tax refund. Getting any other correspondence, especially for issues like audit, does not augur well with most people. Problems with taxes...
Posted by Income Taxes and Bookkeeping LLC on 01/26/2021
A tax audit is the last letter many taxpayers want to get from the IRS. It is not surprising as tax issues can have a devastating effect on one's finances. The receipt of an audit...
Posted by BEST FINANCIAL GROUP LTD on 08/19/2020
A CP2000 notice contains a “proposed amount due” and there is a possibility you will receive it. When the amount you reported on your tax return does not match the information...
Posted by BEST FINANCIAL GROUP LTD on 11/12/2019
About 15 million individual taxpayers each year are reminded that taxes don’t end after April 15th. The IRS reached out to about 10% of taxpayers last year, usually in the form...
Posted by BEST FINANCIAL GROUP LTD on 08/23/2019
Cash dividends that are paid to someone on behalf of the holder of record are called Nominee dividends. In order to report the nominee income on their own return, the recipient of...
Posted by Unifirst Financial & Tax Consultants on 04/03/2019
