Understanding IRS Letter 725-B: Notice of Appointment to a Field Revenue Officer for Investigation The IRS Letter 725-B, also known as the Notice of Appointment to a Field Revenue Officer (RO) for Investigation, is a formal communication from the Internal Revenue Service (IRS) indicating that a taxpayer’s case has been…
Welcome to our comprehensive FAQ help guide on the IRS Fresh Start Program! Widely advertised on TV, radio and internet. Dealing with tax issues can be overwhelming, but the Fresh Start Program is designed to provide taxpayers with a second chance. In this article, we’ll answer your most pressing helpful…
As a trucker, filing taxes can be a daunting task. The paperwork, deadlines, and complex tax laws can leave you feeling overwhelmed and uncertain about your tax obligations. However, failing to file your taxes can have severe consequences, including back taxes, penalties, and even legal action. If you are struggling…
Tax anxiety, TAX-IETY, comes in different forms of tax problems such as: What is an IRS audit tax-iety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance…
If you were to ask most Californians if they knew what the IRS does, most of them would know exactly what you were talking about. However, if you were to ask the same people if they knew what the California FTB does, I would guess a small number of them…
Owing back taxes to the IRS or state FTB, EDD, CDTFA can be overwhelming and stressful. It’s not uncommon for individuals and businesses to fall behind on their taxes due to various reasons, such as financial hardship or a lack of understanding of tax laws. However, ignoring the problem can…
TIGTA identified 685,555 taxpayers who had a balance due as of May 14, 2019. These taxpayers reported adjusted gross income (AGI) of $200,000 or more and owed a combined total of $38.5 billion. Because the IRS prioritizes high balance due cases for collection, many of these high-income taxpayers would be…
As any business owner will tell you, there are simply not enough hours in the day, and life as a business owner can be described as ‘busy’ at best. If you’re running your own business, in Los Angeles, or Orange County, regardless of how large or small your company is,…
IRS has provided updated instructions to taxpayers with respect to the effects of coronavirus – COVID-19 on offers in compromise (OICs). IRS has the authority to compromise a taxpayer’s tax liability. An OIC is an agreement between the taxpayer and IRS that compromises a taxpayer’s tax debt for less than…
In Nina Olson’s recent report to Congress, the head of National Taxpayer Advocate, addressed challenges and concerns facing US taxpayers when dealing with the IRS. I will only highlight one of her concerns which is releasing IRS bank levies, that’s when the IRS seizes bank accounts of delinquent taxpayers with unpaid…