Uh Oh! The IRS Filed an NFTL on me. What Do I Do? Plano TX

The Notice of Federal Tax Lien (NFTL) is a very powerful tool of the IRS.  When taxpayers have tax debt, one of the most common reasons they come to our Richardson, TX tax office is due to a tax lien. I will often be asked if I can

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Richardson TX – What Factors pu you at risk for an IRS Audit?

When my clients come to me and provide me their tax information, I sometimes see red flags pop out that I address with them before filing. This review helps to minimize any issues they might have with future IRS reviews/audits. However, I also have taxpayers who come

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Plano TX – Why 2020 Might Be Time To Deal with your IRS Problems

If you’ve owed the IRS over the past 10 years, while you may not have been lucky to have an IRS problem, in general, we’ve seen a much less aggressive IRS in collecting tax debt.  As an Advocate for Taxpayers with IRS problems, I have found the IRS

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Richardson TX – The IRS NFTL. What is the Impact?

When taxpayer’s come into my office in Richardson, TX related to IRS tax debt issues, threat of or Notice of a Federal Tax Lien is one of the major reasons.  Taxpayers often don’t understand the process, how a Tax Lien impacts them, and what they can do

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Richardson TX – Who Qualifies for the Home Office Deduction

In some case, entrepreneurs who work from home can write off a portion of their housing and utility expenses.  That’s often a big question for our clients in our Richardson, TX tax office, who use part of their home in their business.  If you qualify, it can have

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Plano TX – Are you aware that there are exceptions to Being Taxed on Cancelled Debt? Here’s a List of Them.

As I wrote a week ago, in general, if you borrow money and you are legally obligated to repay that debt at a future date, and if that debt is forgiven in full or in part, the cancelled debt becomes taxable income to you. I also discussed

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Frisco TX – When a Taxpayer does not file income Taxes – The IRS SFR (Substitute for Return)

We sometimes have taxpayers who come into our Richardson, TX tax office who have not filed a tax return for all years or many years and who are confused when the IRS is attempting to collect tax from them in a year that they know they never filed.    

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Frisco TX – IRS Acronyms – RSED, CSED and ASED. What do they actually mean?

When dealing with the IRS, Taxpayer’s who come into our Richardson, TX tax office, often run into IRS jargon that makes no sense to them. They also run into these acronyms when reading and/or listening to our blogs and videos as well as others. Today, we’re going to

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Frisco TX – Audit Reconsideration vs a Doubt as to Liability OIC – Which is best when the IRS incorrectly assesses Income Tax

When taxpayer’s come into our Richardson, TX tax office with what they believe is an erroneous tax assessment by the IRS, two options that we commonly use to challenge the underlying tax are Audit Reconsideration and a Doubt-as-to-Liability Offer-In-Compromise.  There are similarities and differences between these two

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Our YouTube Video On What To Do If You Receive a CP2000 Notice

Our YouTube Video On What To Do If You Receive a CP2000 Notice

I wanted to share our most popular You Tube Video which is What is a CP2000 Notice and What To Do If You Receive One.  As a summary, a typical IRS audit today is a Correspondence Audit, which is typically completed primarily by mail.  Taxpayers may receive

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