About 1.1% of taxpayers are selected for a tax audit each year. The IRS examines tax returns to verify that the tax reported is correct. Some of those people are selected randomly, others have items on their returns which raise a red flag and trigger the audit. Whichever category you…
Generally, the statute of limitation for collection expires 10 years after the date the tax was assessed (for tax assessed after November 5, 1990). For tax assessed before November 5, 1990, the statute of limitation for collection is six years. This period may be extended by an agreement between the…
The IRS may seize all property and rights to property (except for exempt property), whether the property is real or personal, tangible or intangible, belonging to any taxpayer who neglects or refuses to pay back taxes, or any property on which there is a tax lien for payment of any…
If you are contacted by the IRS, they usually send you a notice to call, or pay an unpaid tax amount. Most taxpayers are confused as to what the notice is for, or what does it really mean. This article will clarify the most common notices received by taxpayers needing…
Did you buy a new home in Los Angeles, Whittier, Norwalk, Santa Fe Springs, Downey, Pico Rivera, Montebello, Hacienda Heights, La Habra Heights, West Covina, La Habra, Brea, Fullerton, Yorba Linda, Cerritos, La Mirada, Lakewood, Anaheim, Santa Ana, Long Beach, Compton, Torrance, Los Angeles, Pasadena, Beverly Hills, Santa Monica and…
Do you owe the IRS unpaid back taxes? Have they sent you many letters but you did not respond? There are still options. CDP – Collection due process. If the time to respond to an IRS collection notice has passed, you, the taxpayer, or your power of attorney / representative,…
Did you receive an IRS or state tax lien notice, levy letter, postcard or phone call? Know the difference between a tax lien and a tax levy, there are major differences between both enforcement action. A tax lien is a type of claim against property that secures the payment of…
Are you a business owner or an officer facing a 941 payroll or employment tax problem? Unpaid payroll or employment tax is a serious tax matter, and the IRS holds the business owner, officers and other personnel as responsible person(s) and actively enforce aggressive collection measures to collect on the…
Mike Habib, EA tax firm provides a wide range of tax preparation, tax planning, tax representation and consulting services. We professionally prepare individual and business tax returns including Federal, State and e-filing. Clients come to us for expert assistance with any tax notice or IRS problem. We serve Pico Rivera,…
Are constant calls and mail from the IRS bogging you down? Have you run out of possible options to pay your IRS tax debt running out of control in the tens or hundreds of thousands? Trust us; it’s not the end of the world and you are not alone. ‘How…