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Tax Audit & Letters
Pay the IRS and Sip Your Slurpee Too!
Through a partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, the IRS is currently offering this cash payment alternative at participating 7-Eleven stores in 34 states. In a statement, IRS...
The Pitfalls and Perils of the Updated IRS...
Did you know that when you owe money to the IRS that cannot be paid in full within four months or within six years on a monthly payment plan (if the amount is $50,000 or less), you have invited the IRS into your personal budget...
Why Is My Refund Questionable?
Hugh Grant, Elvis and an IRS representative are gathered in my living room. The IRS representative pours a round of Blu-tinis. Just as Hugh Grant offers me a Blu-tini, the IRS representative pulls back his hand and exclaims...
Employee Business Expenses – A Very Popular IRS...
It happened. The letter you hoped would never come arrived. You open it and discover the IRS has graciously sent you an invitation to their work mileage deduction review. Once you return back to planet Earth (alas, you really...
Al “Scarface” Capone and The Financial Status...
What do “Scarface” Capone and a tax audit have to do with each other? They actually do have a bit of a connection. Scarface went to prison for TAX EVASION! Yup, not murder. Not racketeering. (Not sure if that was even on the...
I Received a CP2000 Notice From the IRS...
Hey Dave, I got a CP2000 notice from the IRS. It says I owe $12,269 for securities I sold in 2013. I purchased the stock in 2005 and sold it at a loss of almost $10,000, which is why I didn’t include it on my tax return. Why...
What Should I Do With An IRS Letter 12C?
Hey Dave, I’m not even sure if this is an audit, but I thought you might be able to help me. I received a 1095-A form for health insurance info from the Vermont Health Insurance Exchange/Marketplace after I had already filed...
If You Get Audited, Do They Send a Letter or Do...
Hey Dave, If you get audited, do they send a letter or do they call you? Hal Hal In most instances, the IRS will send you a letter notifying you of the audit. Some states will send an email, but the IRS does not. You...
What Are Your Chances of Being Audited?
A tax audit is not the best topic for cocktail party small talk, is it? The word “tax” stirs a myriad of emotions in a human being, usually negative. Well… unless you are a legislator and need appropriations to build a new...
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Tax Audits & Letters