Cheating on your taxes can be costly- and its not the right thing to do. My H&R Block article on the costs and other reasons why you should not cheat on your taxes.
Learn how to “speak IRS” to better help your clients
November 12, 2018 by ·
My AICPA CPA Insider article on how to “speak IRS.” Speaking IRS is essential to understanding a taxpayer’s situation and how to go about resolving a tax problem. Many at the IRS have a special “lingo” that you need to know to be able to fully understand what is going on and how to fix it. After spending 19 years with the IRS, here is a few common IRS speak terms that you may need to know when talking with the IRS.
Be ready to answer these Affordable Care Act questions
November 12, 2018 by ·
An AICPA CPA Insider article that I co-authored regarding common Affordable Care Act (ACA or “Obamacare”) tax questions.
Tax Identity Theft and Tax Scams: Tell your client to hang up on the ‘IRS’
November 12, 2018 by ·
Tax identity theft and tax scams are rampant. You get a call on the phone from someone who claims to be the IRS – and if you don’t pay up, you will go to jail. My AICPA CPA Insider article on why it is a must to ALWAYS hang up on anyone who claims to be the IRS. Almost all IRS contacts are initiated with a letter or notice- that is, you know it is coming. Don’t fall for the phone call scam- just hang up.
15 things you need to know when you owe taxes to the IRS
November 12, 2018 by ·
My AICPA CPA Insider article on 15 important things to know when you owe taxes to the IRS. The most important is that a taxpayer needs to be in an agreement with the IRS to avoid enforcement- that is, liens and levies.
Ten things you need to know about passport restrictions on delinquent taxpayers
November 12, 2018 by ·
Congress passed the ability for the IRS and the State Department to coordinate passport restrictions on tax debtors who are not in good standing with the IRS and owe more than $50,000 (indexed each year for inflation). Here was the first article in Accounting Today that provides 10 things tax debtors need to know about passport restrictions – the moral of the story- get in good standing with the IRS.
1.35M taxpayers could see their IRS penalties automatically removed each year
November 12, 2018 by ·
Another update article on the IRS’ first-time penalty abatement waiver. The IRS could soon make this “automatic” when you first incur a failure to file or failure to pay penalty. We will wait and see if this becomes the procedure for the IRS.
IRS more likely to question returns than taxpayers think
November 12, 2018 by ·
My article for H&R Block that provides the “real” IRS audit rate. The media states the chance of an IRS audit is 1 in 143 – it is actually much higher because the IRS uses automated “audit” methods, like matching notices and return rejects. The real “audit” rate is actually much higher – and because much of the process is automated, the IRS can maintain high rates of coverage – unlike the published “audit rate” indicates.
Here come the Private Tax Debt Collectors…..again
November 12, 2018 by ·
The IRS has tried private debt collection on its oldest accounts twice before. Congress mandated they try it a third time. My Accounting Today article telling tax professionals what they need to know about the IRS private debt collection initiatives.
IRS Tests Relaxing of Installment Agreement Rules
November 12, 2018 by ·
My Accounting Today article that provides insight on how taxpayers who owe between $50,000 and $100,000 to the IRS can now get into a 84-month payment plan without having to file detailed financial information with the IRS. This pilot continues and can especially help those taxpayers who are facing passport restrictions because they are not in good standing with the IRS.
