CANDACE STEVENS's (numbercruncherllc) Blog

You have heard advertisements which state "You can settle your back tax debt for pennies on the dollar".  It’s important to know that the IRS doesn’t just approve everyone's Offer-in-compromise that requests one. The IRS must have a reasonable doubt that they will not be able to collect the full ...

You open your mailbox and notice a letter from the IRS.  Your heart starts to pound, your hands sweat, you start thinking about all the things that could happen, you basically freak out.  Receiving a letter from the IRS is never fun for anyone.  However, not all letters from the IRS are the same....

Did you take a coronavirus distribution (CVD) of up to a combined limit of $100,000 from one or more of your traditional IRAs in 2020? You can recontribute the CVD amount(s) back into one or more traditional IRAs within three years of the withdrawal date(s). You treat each withdrawal and later re...

Do you claim a tax deduction for a home office?  Should you include or exclude your garage space in your calculations of business-use percentage?The focus of our practice is helping individuals and businesses resolve their IRS tax problems in the Las Vegas, Nevada, St. George, Utah areas, and els...

If you are suffering or about to suffer an IRS audit, you should know how your tax positions stack up against the IRS examiners’ positions.  In most cases, you are discussing the facts, not the law, and you prove your facts with receipts, canceled checks, and logbooks.  The focus of our practice ...

If you made an error on your tax return, don’t worry—there are two easy ways to fix it:  A superseding return A qualified amended return  A superseding return is an amended or corrected return filed on or before the original or extended due date. The IRS considers the changes on a superseding ret...

As you can see from Part 1 of the Tax Changes for 2021, there have been quite a few changes so far this year.  Below are the 2nd half of the tax changes: Estate and Gift Taxes- The lifetime estate and gift tax exemption for 2020 jumped from $11.58 million to $11.7 million — $23.4 million for coup...

I know, it's only July, and thinking about taxes is the last thing you want to do.  However, this year especially, it is essential you start thinking about taxes now.  #1:  2021 has seen many tax changes in just a few short months.  These changes may affect your refund or tax liability.  #2: With...

The IRS lists the worst of the worst tax scams in 2020.  Just because this list is for 2020 doesn't mean the scams have stopped. If anything the scammers are thinking of new ways to try to scam the public. Remember the IRS will NEVER call, text, or email you asking for personal information.  Belo...

The focus of our practice is helping individuals and businesses resolve their IRS tax problems in the Las Vegas, Nevada, St. George, Utah areas, and elsewhere.   However, we also like to educate taxpayers to help them avoid an audit, or if they get audited, the IRS doesn't find anything to charge...