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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...

Plano TX – Now is the Time To Finish Tax Planning for 2019

It’s always a good idea to look for ways to minimize your tax liability. Taking advantage of opportunities before the year comes to a close is a smart move. Here are a few things to think about: Are you making the maximum contribution to your §401(k), IRA or other...

Plano TX – Selling Your Home? Find Out If You’ll Owe Tax on the Sale!

Each year, clients either come into our Richardson, TX tax office and ask if they need to pay taxes on the sale of their residence, call concerned about taxation on the Sale of their personal residence, or make an assumption that income on the Sale of a personal...

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...

Frisco TX – When to Contact the IRS Taxpayers Advocates Service

The Taxpayer Advocate Service (TAS) is and independent organization within the IRS that was set up for the purpose to act as a voice for taxpayers.   While the existence of the TAS is not known by most taxpayers, it can be effective means of helping both businesses...

Frisco TX – Getting an IRS Lien Released Withdrawn or Discharged. What’s the Difference?

Many of the Taxpayer’s coming into our Richardson, TX tax office with IRS Debt have a Notice of Federal Tax Lien (NFTL) or are under threat of an NFTL.  As you’ve learned over the past few weeks, the Notice of Federal Tax Lien (NFTL) is a powerful tool of the IRS and...