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What to Expect If You Receive IRS Notice CP14

June 3, 2023 | Tax Issues Tax Levy Tax Liens Tax Relief

Summary CP14 is a notice from the IRS demanding payment for unpaid taxes, interest, and penalties. You may receive this notice for various reasons, including filing a tax return without full payment, IRS adjustments leading to additional tax liability, or unpaid taxes due to an audit. CP14A is a balance due notice sent to those with existing installment agreements, requiring no additional action unless the balance is incorrect. If you receive a CP14 notice, verify the information's ac... CONTINUE READING

What Does IRS Notice CP2000 Mean? What to Do?

June 1, 2023 | Tax Issues Tax Laws Tax Notices

Summary IRS Notice CP2000 is sent to taxpayers who have underreported their income, resulting in additional tax liability. This may be due to unreported income, errors, or identity theft. If the notice is correct, taxpayers should pay the tax or contact the IRS for payment arrangements. If incorrect, they should contact the IRS with supporting documents. Ignoring the notice leads to finalized changes and collection processes. Tax professionals can assist with navigating CP2... CONTINUE READING

Recordkeeping for Individual Taxpayers

May 20, 2023 | Tax Compliance

Recordkeeping for Individual Taxpayers Every month I am contacted by a new client who has a tax issue from the 1990's, or early or late 2000's. That makes having a tax records retention policy a very important issue since the tax issue can be very old.  You may wonder if it is even possible to have a tax issue going back that far in time. The answer is Yes. I hate to say this since if you did not a tax return, the IRS will not start the statute of limita... CONTINUE READING

Taxpayer’s Guide to IRS Notices and Letters

May 10, 2023 | Tax Notices

Help! What Does This IRS Notice Mean? Receiving a notice from the IRS can be stressful and confusing. These notices are often intimidating and hard to understand, but to help you out, we've put together resources on the most common IRS notices. To learn more, check out the following links or contact us directly. At the Timothy Hart Law Group, we are devoted to helping clients deal with their IRS and state tax issues. We can help you decipher your notice and deal with your ta... CONTINUE READING

IRS Tax Relief Forms and Instructions

April 26, 2023 | Tax Debt Tax Help

IRS Tax Relief Forms: Resources for Taxpayers The Internal Revenue Service has many different options for people who get behind on their taxes. But to request help, you need to file the right forms. This guide provides an overview of the relief forms you need to file based on the resolution option you want to pursue. Keep in mind that in some cases, you may need to apply for multiple programs. IRS Penalty Abatement If you file or pay late, the IRS will assess penalties on yo... CONTINUE READING

IRS federal tax lien release and discharge rules

March 1, 2023 | Tax Liens

Background An IRS tax lien is a kind of security interest granted over a property to secure payment of the debt. We can assist with obtaining a Release a Federal Tax Lien. A tax lien on a property is imposed to secure payment of tax debt. A tax lien may be imposed against delinquent taxes against property or on account of failure to pay taxes. In the United States a federal tax lien may be raised in connection with any kind of federal tax. IRS can have a legal claim to your prop... CONTINUE READING

NYS Voluntary Disclosure Program

January 27, 2023 | Tax Debt

Summary The New York Voluntary Disclosure Program helps taxpayers who failed to file returns and owe back taxes avoid penalties and criminal charges. To be eligible, taxpayers must disclose unfiled returns and tax amounts owed, pay back taxes, and enter into a payment agreement for future taxes. The program excludes taxpayers under audit, criminal investigation, or those who received a tax bill. It covers income, corporate, and sales taxes. The Tax Department does not impose penalti... CONTINUE READING

Trust Fund Penalty Guide

January 15, 2023 | Tax Penalties

The Trust Fund Recovery Penalty is the penalty you incur as an employer responsible party, if you withhold income tax, Medicare, and Social Security taxes from your employees’ wages, but don’t send the money to New York State or the IRS. The penalty is basically these unpaid monies imposed against you perso... CONTINUE READING

Back Taxes Lawyer – Can get you caught up!

December 15, 2022 | Unfiled Tax returns

Have You Not Filed a Tax Return for Some Time? Turn to Our Attorney for Back Taxes Help and Explanation The Internal Revenue Service (IRS) estimates that approximately 10 million taxpayers have not filed their federal returns. This problem is commonly known as back tax returns and can lead to excess penalties and fees, necessitating help from a back taxes lawyer. Having unfiled tax returns may appear to be a... CONTINUE READING

Taxpayer’s Guide to IRS Partial Payment Installment Agreement

December 10, 2022 | Payment Plans

Settle Tax Debt With an IRS Partial Payment Installment Agreement If a taxpayer cannot afford to pay their full tax bill, the IRS will sometimes agree to settle some of the taxes owed. This can happen in a few different ways, including offers in compromise, currently not collectible status, and partial payment installment agreements. This guide looks at the IRS Partial Payment Installment Agreement. This... CONTINUE READING