RECENT BLOG POSTS
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The penalty for failing to file is calculated as follows: (But first, share this post with a friend who may need to know this information.)    • For each month or portion of a month that a tax return is late, the penalty for Failure to File is 5% of the unpaid taxes. Your unpaid taxes will not be...
01/30/2023
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There are many penalties the IRS can assess.  Below are some of the penalties that pertain to individuals:     -Failure to File     -Failure to Pay     -Failure to Deposit     -Accuracy Related     -Erroneous Claim for Refund or Credit     -Dishonored Check     -Underpayment of Estimated Tax by I...
01/26/2023
"Taxpayers have the right to expect the tax system to consider facts and circumstances that might affect their underlying liabilities, ability to pay, or ability to provide information timely. Taxpayers have the right to receive assistance from the Taxpayer Advocate Service if they are experienci...
01/23/2023
"Taxpayers have the right to retain an authorized representative of their choice to represent them in their dealings with the IRS. Taxpayers have the right to seek assistance from a Low Income Taxpayer Clinic if they cannot afford representation."-Publication 1What this means: You can choose some...
01/19/2023
"Taxpayers have the right to expect that any information they provide to the IRS will not be disclosed unless authorized by the taxpayer or by law. Taxpayers have the right to expect appropriate action will be taken against employees, return preparers, and others who wrongfully use or disclose ta...
01/16/2023
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"Taxpayers have the right to expect that any IRS inquiry, examination, or enforcement action will comply with the law and be no more intrusive than necessary, and will respect all due process rights, including search and seizure protections and will provide, where applicable, a collection due pro...
01/12/2023
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Taxpayers have the right to know the maximum amount of time they have to challenge the IRS’s position as well as the maximum amount of time the IRS has to audit a particular tax year or collect a tax debt. Taxpayers have the right to know when the IRS has finished an audit.What this means: When y...
01/09/2023
Taxpayers are entitled to a fair and impartial administrative appeal of most IRS decisions, including many penalties, and have the right to receive a written response regarding the Office of Appeals’ decision. Taxpayers generally have the right to take their cases to court.What you can expect: It...
01/05/2023
Taxpayers have the right to raise objections and provide additional documentation in response to formal IRS actions or proposed actions, to expect that the IRS will consider their timely objections and documentation promptly and fairly, and to receive a response if the IRS does not agree with the...
01/02/2023
Taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly.What this means: You can ask for a refund if you think you overpaid for your taxes; however, you are required to submit your claim within speci...
12/29/2022
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