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Trending Posts
Everything You Need To Know About An IRS Notice Of Deficiency
If you’re having trouble with the IRS, you may receive an IRS letter 3219 in the mail. This official notice is designed to alert you of your current status and inform you that the information on your return does not match what the IRS has…
Understanding Your IRS CP14 Notice In 9 Easy Steps
Receiving any notice from the IRS is a scary thing to go through, especially if you aren’t sure what the letter means or how to proceed appropriately. Millions of Americans receive an IRS CP14 notice if they owe unpaid taxes or if there are any…
6 Guidelines: IRS Reports New Crypto Voluntary Disclosure Procedure
You’re not alone if you entered tax season wondering what could you use as a write-off or if there’s any part of your income that perhaps the IRS doesn’t need to know about. A recent study suggests that 6% of American taxpayers might have “cheated”…
Newest Posts
Foreign Asset Disclosure: The IRS Rules You Need to Know in 2025
With global financial transparency increasing, U.S. taxpayers with foreign assets face stricter IRS reporting requirements. Whether you own overseas bank accounts, foreign investments, or offshore trusts, you must comply with foreign asset disclosure rules to avoid severe IRS penalties, audits, and potential criminal charges. The…
FinCEN Form 114: A Complete Guide to FBAR Reporting in 2025
For U.S. taxpayers with foreign financial accounts, compliance with FBAR filing requirements is crucial. The Financial Crimes Enforcement Network (FinCEN) mandates that individuals and businesses with foreign financial assets exceeding a certain threshold file FinCEN Form 114, commonly known as FBAR (Foreign Bank Account Report).…
US Expat Tax Advice: 7 International Tax Strategies For Citizens Living Abroad
As a US Citizen working abroad, that doesn't mean you can escape the IRS and taxes.As an American expatriate, you face unique tax challenges that can lead to double taxation without proper planning. Having worked with hundreds of U.S. citizens living overseas, I've seen firsthand…
Tax Question & Answer Videos
Information Regarding Tax Audits
ERC Audits: Navigating Risks and Penalties in IRS Examinations
As IRS audits of Employee Retention Credit (ERC) claims intensify, understanding the risks and potential penalties is crucial for businesses. This guide explores ERC audit processes, common red flags, audit preparation strategies, and penalty abatement options. With proactive planning and expert guidance, businesses can navigate…
Demystifying Form 4549: A Comprehensive Guide to Understanding Your IRS Audit Report
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…
The Art of Audit Reconsideration: Turning the Tables on Your IRS Audit
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…
How to Deal With Back Taxes
Navigating CP504B Notices: A Quick Guide
If you’ve ever received a CP504B notice and felt like you’ve hit a brick wall, you’re not alone. The moment that letter lands in your mailbox can be daunting, but here’s the thing – it’s far from the end of the road. So, we’re here…
Tax Debt Relief: The IRS’ Best Kept Secret To Pay Off Taxes
We know you meant to pay your taxes when the time came. We also understand life got in the way with its other responsibilities. Your tax debt does not have to turn into a never-ending cycle of penalties and fees you can never seem to…
CP71 Notice Explained: Resolve Your Tax Debt Now
You open your mailbox and there it is-the IRS envelope. Your stomach tightens. Is this an audit? A penalty? Another tax bill you weren't expecting? If you've received a CP71 notice, take a deep breath. This isn't an audit or a lawsuit. It's a reminder…
Recent News Regarding Taxes & The IRS
The Effects the 2020 Election Could Have on Your Future Taxes
October 5, 2020
Will There Be a Second Stimulus Check in 2021? What You Need to Know.
September 19, 2020
What Happened to the Health Insurance Penalty in 2019?
April 15, 2019
A Complete Breakdown of the IRS 2021 Tax Tables
November 24, 2020
The Effects the 2020 Election Could Have on Your Future Taxes
October 5, 2020
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