High-Income Late Tax Filers – The IRS is Coming

According to IRS, they’ve hired some more agents so they can come get’cha.  IRS Newsroom publication IR-2020-34 published  February 19, 2020 says this: “Following the recent and ongoing hiring of additional enforcement personnel, IRS revenue officers across the country will increase face-to-face visits with high-income taxpayers who haven’t filed tax returns in 2018 or previous […]

IRS Hit A Self-Employed Individual for $7k in Back Taxes!

My sole proprietor clients think I’m hard on them. They wish I’d leave them alone about maintaining a separate bank account for their business. They don’t want to hear me go on and on about not co-mingling funds, depositing and reporting every dollar made in business, and not over-stating expenses. There are several reasons I […]

What to do When You OWE the IRS and Cannot Afford to Pay

What should you do if you cannot pay now, neither do you believe you can afford to pay throuugh a stream-lined installment agreement? You can submit a Form 433-A for Wage Earners and Self-Employed (see instructions in IRS Pub 1854 – How to Prepare form 433-A) to appeal the collections process.  Form 433-A is six […]