Ever found yourself staring down the barrel of a form 433-f, with the IRS on one end and your hard-earned money on the other? That’s what it can feel like when you’re up against tax debts, wrestling through piles of paperwork. Seems like a daunting…
How long do IRS audits take? It’s a question that can keep many taxpayers up at night. Dealing with an Internal Revenue Service (IRS) audit letter is stressful, and dealing with tax audit timeframes can be overwhelming. You have no idea how long your time…
As you grow your wealth, it’s important that you learn to protect your money. There are a number of reasons to do this, and one of the best ways to protect your money is through an offshore asset protection trust. You’ll need to learn the…
A CP88 Notice from the IRS serves as a formal reminder that your tax return has not been filed, and your refund, if any, is being held until the issue is resolved. Ignoring this notice can lead to severe consequences, including penalties, interest, and potential…
A CP161 Notice from the IRS is a formal notification of a balance due resulting from underpaid business taxes. While this notice may not seem as intimidating as other IRS correspondence, it requires prompt attention to avoid escalating penalties or interest. At Silver Tax Group,…
Receiving a CP22 Notice from the IRS can be alarming. This notice indicates that changes have been made to your tax return, resulting in a balance due. Whether you or the IRS initiated the adjustments, it’s essential to understand the notice and respond promptly to…
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…
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…
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…
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…
Key Takeaways: CP71 Notice: It’s a reminder you owe taxes. Reason: The IRS thinks you didn’t pay all your taxes. What to Do: Agree? Look into ways to pay. Disagree? Prepare to show why. Help Available: Tax experts can help sort it out. Payment Options:…
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