Imagine stepping into a world where the words Form 843 instructions open doors to forgotten treasures. Doesn’t that just sound like the beginning of an epic quest? Well, it is! But instead of ancient gold or hidden artifacts, we’re unearthing something equally valuable – your…
Key Takeaways: All gambling income is taxable. Gamblers may receive Form W2-G from payers if their winnings exceed certain limits, like $600 for horse racing and $1,200 for slot machine betting. Types of gamblers include professional, amateur, and social. The type of gambler you are…
The IRS is familiar with fraud. In 2015, they stopped a total of $10.9 billion in fraudulent refunds. And that’s the number of scams they caught and not counting ones they didn’t. But scammers aren’t just targeting large organizations like the IRS. Consumers fall victim…
You filed the FBAR with FinCEN. Then you looked at Schedule B line 7a on your 1040 and realized you checked "No" - meaning you said you don't have foreign accounts. But you just filed a form that proves you do. Filing an FBAR while…
Tax debt affects millions of Americans each year. The IRS collected $68 billion through enforcement actions last year alone. Understanding your rights and options can mean the difference between losing your home and keeping it.Most people facing tax debt have urgent questions about what the…
As someone who has successfully defended over 1,000 taxpayers against IRS collection actions, I've seen the devastating impact when one spouse's tax issues become both spouses' nightmare. But here's what the IRS doesn't want you to know - you have legal rights that can completely…
Form 4549, officially known as the "Income Tax Examination Changes" form, is issued by the IRS following an audit. If you get one, it means the IRS is questioning your return. Let's get into the form and what it means. Demystifying Form 4549: A Comprehensive…
An IRS audit is something we all dread, especially when it comes with unexpected tax assessments. Audit reconsideration is all about finding a strategic opportunity to challenge the IRS's findings and potentially reduce or eliminate those additional tax liabilities. You'll want an experienced tax defense…
The IRS Automated Underreporter (AUR) system is designed to compare taxpayer income reports with third-party data, and it often uncovers discrepancies that lead to AUR notices. These notices are, of course, very useful to the IRS in ensuring compliance, but they can also be a…
Tax debt affects millions of Americans each year. The IRS collected $68 billion through enforcement actions last year alone. Understanding your rights and options can mean the difference between losing your home and keeping it.Most people facing tax debt have urgent questions about what the…
As someone who has successfully defended over 1,000 taxpayers against IRS collection actions, I've seen the devastating impact when one spouse's tax issues become both spouses' nightmare. But here's what the IRS doesn't want you to know - you have legal rights that can completely…
Every week, I speak with taxpayers who discover too late that IRS collection actions aren't empty threats. Bank accounts get frozen overnight. Paychecks get garnished at rates that make basic living impossible. Credit scores get destroyed by public lien filings that follow you for years.…
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