Podcasts about irs notice

You see those three letters on the return address and your stomach drops. IRS. Your brain goes straight to worst-case scenarios. Am I being audited? Do I owe money? Am I going to jail? Tax expert Morgan Anderson joins @stoyhall on NoBS Wealth to cut through all of it and tell you exactly what is going on, why it happens, and what you actually need to do. No fear, no fluff, just the real framework you need when that letter lands in your mailbox.Here is what most people do not know: 95% of the first IRS notices you will ever receive are computer-generated matching notices. The IRS is not sending a special agent to your door. They are running your tax return against third-party data from Venmo, PayPal, Stripe, and other platforms and flagging anything that does not line up. That process takes two to three years to work through their system, which means notices you get in 2026 are for tax years 2023 and 2024. It is slow, it is outdated, and most of it is fixable.Morgan walks us through the three steps you need to take the moment you open that letter, the top three mistakes people make when they respond, and the real story of a plumber who ended up with $80,000 in back taxes because he did not know that income is income whether or not you receive a 1099. We also break down what the One Big Beautiful Bill actually did for everyday people using payment platforms, and why that change matters more than most people realize.We close out with the question that divides tax season every single year: should you want a big refund? Morgan's answer is direct, and it is exactly what you need to hear before you file. Aim for net zero. Your money works harder in your pocket than it does sitting at the IRS.Watch on YouTube: https://youtu.be/Xv-iOGqcNw0As always we ask you to comment, DM, whatever it takes to have a conversation to help you take the next step in your journey, reach out on any platform!Twitter, FaceBook, Instagram, Tiktok, LinkedinDISCLOSURE: Awards and rankings by third parties are not indicative of future performance or client investment success. Past performance does not guarantee future results. All investment strategies carry profit/loss potential and cannot eliminate investment risks. Information discussed may not reflect current positions/recommendations. While believed accurate, Black Mammoth does not guarantee information accuracy. This broadcast is not a solicitation for securities transactions or personalized investment advice. Tax/estate planning information is general - consult professionals for specific situations. Full disclosures at www.blackmammoth.com.

Did the IRS send you IRS Notice CP518? What does it mean and what should you do? Don't fret, let's dive into it together! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Links:-IRS SFR Program Explained and What To Do If IRS Filed an SFR For You!:    • IRS SFR Program Explained and What To Do I...  -IRS Notice CP63: What It Is and How to Respond:    • IRS Notice CP63: What It Is and How to Res... 

Have you received IRS Notice CP161? No need to look at it with confusion! I got you covered in today's video on everything you need to know about this notice! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

Trump Accounts are here, and they come with a mix of opportunity and complexity. In this episode, Cary Sinnett (PFP Podcast) and April Walker (Tax Odyssey) team up with Sebrina Ivey, CPA/PFS, to break down the key rules and planning implications CPA Financial Planners need to understand. What's covered: ·       What Trump Accounts are and how they differ from 529s, UTMA/UGMA, and ABLE accounts ·       The contribution, investment, and trustee rules during the "growth period" ·       Key decisions at age 18, and how estate and tax planning converge ·       How to compare Trump Accounts with traditional irrevocable trusts ·       Planning actions to consider before the tax-free window closes If you're advising families, this is one account structure you can't afford to overlook.  AICPA Resources: ·       Trump Accounts under Sec. 530A — Timeline and insights ·       IRS Form 4547 ·       IRS Notice 2025-68 ·       Planning for tax changes This episode is brought to you by the AICPA's Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program. Subscribe to the PFP Podcast channel at Libsyn to find all the latest episodes or search "AICPA Personal Financial Planning" on your favorite podcast app.  

Did a CP162A hit your mailbox? What does it mean and why was it sent to you? Let's dive into it and discuss! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

Surging 1099‑related IRS notices are creating new challenges for content freelancers as automated matching systems flag even minor income discrepancies. Fragmented earnings, missing forms, and inconsistent bookkeeping are driving more review letters, increasing administrative pressure on independent creators managing multiple clients and unpredictable income streams. MEMBCO TAX City: Charlotte Address: 2108 South Blvd, Suite 211 #1012 Website: https://www.incomearmorclub.com/ Phone: +1 800 925 7133 Email: info@membcotax.com

https://vimeo.com/1157943418?share=copy&fl=sv&fe=ci https://www.currentfederaltaxdevelopments.com/podcasts/2026/1/25/2026-01-26-court-allows-erc-claim-to-go-forward-but-throws-out-apa-challenge  This week we look at: ERC Refund Suits and Challenges to IRS Notice 2021-20 Section 6015(f) Equitable Relief and Attribution of Income Financial Disability Tolling under § 6511(h) Distinguishing "Tax Loss" for Sentencing vs. Restitution Implementation of Qualified Overtime Deductions (OBBBA)

This week we look at: ERC Refund Suits and Challenges to IRS Notice 2021-20 Section 6015(f) Equitable Relief and Attribution of Income Financial Disability Tolling under § 6511(h) Distinguishing "Tax Loss" for Sentencing vs. Restitution Implementation of Qualified Overtime Deductions (OBBBA)

IRS Notice CP63 is a small notice from the IRS, but not one you want to ignore! Let's dive in and look at it step by step! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Link:-IRS SFR Program Explained and What To Do If IRS Filed an SFR For You!:    • IRS SFR Program Explained and What To Do I... 

Confused by the CP05 you've received? Look no further! Here is everything you need to know about this notice you've received from the IRS! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Link:-Can You Go to Jail For Not Filing Taxes?:    • Can You Go to Jail For Not Filing Taxes? 

Has IRS notice CP11 hit your mailbox? Are you confused by the thousands of words on the notice? Let me help you! Here is everything you need to know about IRS Notice CP11...Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

The IRS is a cutthroat organization. HOWEVER, they give you plenty of notice when you have not filed your taxes and owe them money. Listen to today's episode to see what can happen! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Links:-Can You Go to Jail For Not Filing Taxes?:    • Can You Go to Jail For Not Filing Taxes?  -IRS Notice CP59: Do NOT Ignore This Notice!:    • IRS Notice CP59: Do NOT Ignore This Notice! 

On this month's live episode of OZ Office Hours, OpportunityZones.com founder Jimmy Atkinson discusses IRS Notice 2025-50, defining which Opportunity Zones qualify as rural. Effective July 4, 2025, rural OZs qualify for a reduced substantial improvement threshold. Plus, Jimmy answers live questions from the audience. Join Jimmy the first Monday of every month at 3:00 PM Eastern Time, to get your Opportunity Zones questions answered live. Show notes & summary: https://opportunityzones.com/2025/10/ozoh-361/

Did you get a CP504B in your mailbox? What should be your next step? Here is what it means and what you should do next! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief   

Did you receive IRS Notice CP504B? Don't worry, I have everything you need to know about it in this episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit:   / taxrelief  Mentioned Video Links:-IRS Passport Revocation: How to Tell If the IRS Has You Locked Down!:    • IRS Passport Revocation: How to Tell If th...  -Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years]: Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years]

In this Tax Tuesday episode, Anderson tax attorneys Amanda Wynalda, Esq., and Eliot Thomas, Esq., tackle a diverse range of tax questions covering rental property strategies, depreciation rules, and business structure optimization. They explain the tax implications of renting property to family members below market rates, including income reporting requirements and limited deduction capabilities. The attorneys discuss gifting rental properties to children and the associated gift tax filing requirements, while exploring sophisticated property management company structures for generating earned income and maximizing retirement contributions. They provide detailed guidance on utilizing IRS sections 168 and 179 for depreciation and bonus depreciation, clarifying the current 100% bonus depreciation rules and debunking outdated 80% figures. Other topics include S-corp benefits for 1099 contractors, holistic health business taxation, accountable plan cell phone deductions backed by IRS Notice 2011-72, vehicle deduction methods and limitations, and even professional gambling expense deductions for Vegas visitors. Throughout the episode, they emphasize proper entity structuring, asset protection, and tax planning strategies. Submit your tax question to taxtuesday@andersonadvisors.com Highlights/Topics: "I have a question about tax implications of renting my property to my parents. If I rent it to them for less than fair market value, are there any tax incentives or exemptions in this situation? I'm trying to understand whether I would still need to report the income and if I would lose the ability to deduct expenses associated with the property." - Must report income; IRS treats below-market family rentals as not-for-profit activities. "In 2024, I deeded some rental properties to my children about $250,000 each. Is there a way to write this off?" - No deduction available; must file Form 709 for gift tax reporting. "I have four rental properties. I personally manage them through an LLC. Can I use my company as a management company and charge a 20% fee for managing it to be able to show I have earned income and then contribute to an IRA? Also, would I be able to establish a Roth IRA?" - Yes, with reasonable fees and proper structure; enables IRA contributions. "How do I utilize IRS code section 168 and 179 for depreciation and bonus depreciation? How do I buy cars and furniture right off up to 80% of the value of the property every time I buy a house rental or asset? Can I utilize AI or any AI software with these to automate and hands off anything?" - Use 179 first, then 168 bonus depreciation; now 100% not 80%. "I'm a 1099 independent contractor. I own two pieces of property, one is my primary residence, the other has a home and a small apartment on it that I rent out long term under the table. My thoughts are that I need to create an LLC for my business, possibly an S corp. As I understand the tax laws, there will be no way to use any of the rental properties to reduce the tax burden of my 1099 income. Am I on the right track here?" - Report all income; S-corp saves self-employment tax; passive losses don't offset. "I'm going to start a consulting business that focuses on holistic health. What should I be looking for in the next six months or so when I launch? Is taxation different from real estate and in what way?" - Consider S-corp for self-employment tax savings; business expenses differ significantly. "With an accountable plan, can I deduct a hundred percent of a cell phone? Is there some documentation that backs this up? Prove it." - Yes, 100% deductible with S/C-corp; IRS Notice 2011-72 provides documentation. "I have a question about vehicle deductions. There are two methods available, the standard mileage deduction and the actual expense method. Can I use the actual method to claim all the depreciation in one year, then switch to the standard mileage deduction in subsequent years. If this is possible, how does it work? Assume the vehicle is used a hundred percent for business purposes." - Three methods exist; business-owned vehicles allow 100% bonus depreciation benefits. "Since you're in Vegas, you might know the answer to this one. My friend won a reportable jackpot, mid five figures, and he was wondering if he could deduct the travel lodging expenses just as he might do if he made this money as a business deal or future excursions to Sin City to try and extend his winnings." - Only if professional gambler with business intent and meticulous records. Resources: Schedule Your Free Consultation https://andersonadvisors.com/ss/?utm_source=5-reasons-restructure-sole-proprietorships&utm_medium=podcast Tax and Asset Protection Events https://andersonadvisors.com/real-estate-asset-protection-workshop-training/ Anderson Advisors https://andersonadvisors.com/ Toby Mathis YouTube https://www.youtube.com/@TobyMathis Toby Mathis TikTok https://www.tiktok.com/@tobymathisesq Clint Coons YouTube https://www.youtube.com/@ClintCoons

https://vimeo.com/1110565833?share=copy#t=0 https://www.currentfederaltaxdevelopments.com/podcasts/2025/8/17/2025-08-18-state-tax-credit-salt-workaround-regulation-challenge-fails This week we look at: Denham Outlines Its Criticisms of the Tax Court's Use of the Functional Analysis Test for Limited Partners with the First Circuit Court of Appeals Disguised Sales and Sham Partnerships: A Comprehensive Review of PICCIRC, LLC v. Commissioner Judicial Examination of State Charitable Tax Credit Programs and Federal Deductibility The Second Circuit Clarifies Tax Court Filing Deadlines: Implications for Practitioners Understanding New Clean Electricity Credit Termination Rules Impact of IRS Notice 2025-42 on Wind and Solar Facilities  

This week we look at: Denham Outlines Its Criticisms of the Tax Court's Use of the Functional Analysis Test for Limited Partners with the First Circuit Court of Appeals Disguised Sales and Sham Partnerships: A Comprehensive Review of PICCIRC, LLC v. Commissioner Judicial Examination of State Charitable Tax Credit Programs and Federal Deductibility The Second Circuit Clarifies Tax Court Filing Deadlines: Implications for Practitioners Understanding New Clean Electricity Credit Termination Rules Impact of IRS Notice 2025-42 on Wind and Solar Facilities  

Did you get IRS Notice CP92 in your mailbox? Find out in this video what your next steps should be and what exactly it means! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

If you owe the IRS at least $10,000 in back taxes, you qualify for a FREE consultation with us at Choice Tax Relief. Request your free consultation by calling us at 866-8000-TAX or by filling out the form at https://choicetaxrelief.com/Have you received IRS Notice LT17? While this notice doesn't make any direct levy threats, receiving it means that you are definitely on the IRS's radar and that it is likely preparing to send more severe notices in the near future if you do not deal with your tax issue. Find out everything you need to know about this notice now!#IRS #TaxDebt #taxrelief

If you owe the IRS at least $10,000 in back taxes, you qualify for a FREE consultation with us at Choice Tax Relief. Request your free consultation by calling us at 866-8000-TAX or by filling out the form at https://choicetaxrelief.com/Have you received IRS Notice LT17? While this notice doesn't make any direct levy threats, receiving it means that you are definitely on the IRS's radar and that it is likely preparing to send more severe notices in the near future if you do not deal with your tax issue. Find out everything you need to know about this notice now!#IRS #TaxDebt #taxrelief

Have you received IRS Notice LT36? The IRS is currently sending this notice to approximately 525,000 current and retired federal employees about their outstanding tax obligations. Find out everything you need to know about this notice now!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/#IRS #TaxDebt #taxrelief

Did you open up your IRS Notice CP49 to it saying that you are getting a check from the IRS? Is this real? Find out now!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Have you received an IRS Notice? Will this notice begin to appear in your credit report? Find out today what to expect! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Did IRS Notice CP90 just hit your mailbox? Here is your guide to knowing everything about it! Listen now! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_AllecMentioned Video Links:-3 Reasons Why the IRS Will Get Even MORE AGGRESSIVE Under Trump:    • 3 Reasons Why the IRS Will Get Even M...  -Tax Debt Relief EXPLAINED: Here Are the 8 IRS Tax Debt Relief Programs:    • Tax Debt Relief EXPLAINED: Here Are t...  -IRS Wage Garnishment: How Much Can the IRS Take? What Should You Do?:    • IRS Wage Garnishment: How Much Can th...  -What is seriously delinquent tax debt?:    • What is seriously delinquent tax debt? 

Has the LT40 hit your mailbox? Here is everything you need to know about this special piece of mail. Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_AllecMentioned Video Links:-The WORST Notice You Can Receive From the IRS (IRS NOTICE LT11)!:    • The WORST Notice You Can Receive From...  -Can You Get IRS Penalty Abatement If You've ALREADY PAID the Penalty?:    • Can You Get IRS Penalty Abatement If ... 

If you have received the LT39 and have landed on this episode, you probably have some questions. Get them all answered now! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_AllecMentioned Video Links:-The WORST Notice You Can Receive From the IRS (IRS NOTICE LT11)!:    • The WORST Notice You Can Receive From...  -Currently Not Collectible Status Explained | How to Get In CNC Status:    • Currently Not Collectible Status Expl...  -Offer in Compromise 2025: How to Qualify and Submit Your Offer to the IRS:    • Offer in Compromise 2025: How to Qual...  -Can You Get a Passport If You Owe Taxes?:    • Can You Get a Passport If You Owe Taxes?  -Can You Get IRS Penalty Abatement If You've ALREADY PAID the Penalty?:    • Can You Get IRS Penalty Abatement If ... 

Did you just get IRS Notice CP40 in your mailbox? Here is everything you need to know!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Did you receive IRS Notice CP81? Listen to today's episode to get all the information you need!Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Did you receive IRS Notice CP81? Listen to today's episode to get all the information you need!Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_Allec

Are you confused by the CP2000A or B? Don't be! I got you covered in today's episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_AllecMentioned Video Link:-IRS CP2000 Notice Explained — For Unreported 1099s, Crypto, Stocks, Etc.:    • IRS CP2000 Notice Explained — For Unr... 

Did you receive IRS Notice CP49? Are you confused? Here is everything you need to know! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @ChoiceTaxRelief @LoganAllec -TikTok: @loganallec-Facebook: Choice Tax Relief // Logan Allec, CPA -Reddit: u/Logan_AllecMentioned Video Links:-IRS Statute of Limitations on Collections Explained in Full by a CPA:    • IRS Statute of Limitations on Collect...  -Currently Not Collectible Status Explained | How to Get In CNC Status:    • Currently Not Collectible Status Expl... 

Are you confused by the CP21B you just received in your mailbox? Here is a breakdown to battle that confusion! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

Have you received IRS notice CP21C and are highly confused? The clarity you are looking for is here in this episode!Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/If you want to see more…-YouTube:    / @loganallec  -Instagram: @LoganAllec @ChoiceTaxRelief -TikTok: @loganallec-Facebook: Logan Allec, CPA // Choice Tax Relief-Reddit: u/Logan_AllecMentioned Video Link:-IRS SFR Program Explained and What To Do If IRS Filed an SFR For You!:    • IRS SFR Program Explained and What To... 

Did you receive IRS Notice CP21A? WHAT DO YOU DO NOW?! Don't worry, here is everything you need to know about it! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years]:    • Interest Rate on IRS Debt Is PUMPING ... 

Has the CP71D hit your mailbox? Don't fret, here is everything you need to know about it! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

Are you holding onto your LT26 scared?! You don't need to be. Learn more about IRS Notice LT26 today! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-IRS SFR Program Explained and What To Do If IRS Filed an SFR For You!:    • IRS SFR Program Explained and What To... 

Did you receive IRS Notice LT19 in your mailbox? Listen up!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Links:-IRS Notice CP523 Explained: What It Is and What to Do:    • IRS Notice CP523 Explained: What It I...  -Currently Not Collectible Status Explained | How to Get In CNC Status:    • Currently Not Collectible Status Expl...  -TOP ALL-TIME OFFER IN COMPROMISE VIDEOS Playlist:    • TOP ALL-TIME OFFER IN COMPROMISE VIDEOS  -Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years]:    • Interest Rate on IRS Debt Is PUMPING ... 

Did you receive the LT16 notice in your mailbox and don't know what your next step is? Let's go over it in its entirety today!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Links:-TOP ALL-TIME OFFER IN COMPROMISE VIDEOS Playlist:    • TOP ALL-TIME OFFER IN COMPROMISE VIDEOS  -TOP ALL-TIME UNFILED TAX RETURNS VIDEOS Playlist:    • TOP ALL-TIME UNFILED TAX RETURNS VIDEOS 

Have you received a notice of intent to levy from the IRS? Here is what you need to know! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Links:-IRS Notice CP504: What It Is, What It Means, and How to Respond:    • IRS Notice CP504: What It Is, What It...  -The WORST Notice You Can Receive From the IRS (IRS NOTICE LT11)!:    • The WORST Notice You Can Receive From... 

Did you receive IRS Notice CP2566 and are so confused as to what it means? Watch today's episode to grant you some peace of mind of knowing what exactly it is! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-IRS SFR Program Explained and What To Do If IRS Filed an SFR For You!:    • IRS SFR Program Explained and What To...  -IRS Notice CP59: Do NOT Ignore This Notice!:    • IRS Notice CP59: Do NOT Ignore This N...  -How to File BACK TAXES, Avoid PENALTIES, and Get Your Life Back!:    • How to File BACK TAXES, Avoid PENALTI... 

Have you received IRS Notice LT11? There are talks that this may be one of the most serious IRS notices yet. Find out everything you need to know about this notice now!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-TOP ALL-TIME TAX RELIEF VIDEOS:    • Tax Relief Explained: What To Do If Y...  -Does a Notice of Federal Tax Lien Appear on Your Credit Report?:    • Does a Notice of Federal Tax Lien App...  -Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years]:    • Interest Rate on IRS Debt Is PUMPING ... 

Have you received the CP523? In this episode I am going over everything you need to know about this IRS notice!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Links:-Did The IRS Send You a CDP Hearing Notice?:    • Did The IRS Send You a CDP Hearing No...  -IRS CP2000 Notice Explained — For Unreported 1099s, Crypto, Stocks, Etc.:    • IRS CP2000 Notice Explained — For Unr...  -Tax Debt Relief EXPLAINED: Here Are the 8 IRS Tax Debt Relief Programs:    • Tax Debt Relief EXPLAINED: Here Are t...  -Offer in Compromise Playlist:    • Offer in Compromise 2024: How to Qual...  -IRS Wage Garnishment: How Much Can the IRS Take? What Should You Do?:    • IRS Wage Garnishment: How Much Can th... 

Many taxpayers parting ways with the United States must file Form 8854 (Initial and Annual Expatriation Statement). Failure to do so is problematic because it can expose taxpayers to the notorious “exit tax.” Few people have seemed to notice, but significant changes might be on the way. This article analyzes worldwide obligations of U.S. individual taxpayers, exit taxes, foundations for Form 8854 filing duties, legislative proposals for increased enforcement, a recent case invalidating the IRS document that introduced Form 8854, and IRS actions in other contexts where the courts have shot down administrative guidance.

Did you receive IRS Notice CP59? Find out what it is and what you need to do now! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-How to File BACK TAXES, Avoid PENALTIES, and Get Your Life Back!:    • How to File BACK TAXES, Avoid PENALTI... 

Did you receive an IRS Notice CP3219A Notice? Find out what your next move should be now! Do you have unfiled tax returns that need filing? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-Interest Rate on IRS Debt Is PUMPING [Highest in 16 Years:    • Interest Rate on IRS Debt Is PUMPING ...  -How Long Does It Take for the IRS to Respond to a CP2000 Response? WHO KNOWS:    • How Long Does It Take for the IRS to ... 

Have you inherited an IRA from a non-spouse who passed away after 1/1/2020? Beneficiaries of pre-tax retirement accounts have always had to pay taxes on what they inherit. However, on 1/1/2020, the SECURE Act was passed, changing the annual amount that beneficiaries would have to withdraw. Beforehand, non-spousal beneficiaries could: Cash out the account in one lump sum and pay taxes on that amount Take the account out over five years and pay taxes on it Take distributions the year after the account owner passed away and take withdrawals over their lifetime (a stretch IRA) Most non-spousal beneficiaries must empty their inherited account within 10 years following the original owner's death (there are some exceptions for someone who is disabled, the chronically ill, those who are within 10 years of age of the deceased, and minor children).  Unfortunately, the IRS made some changes. Learn what it is—and if it impacts you—in this episode of Retire with Ryan.  You will want to hear this episode if you are interested in... [1:50] My on-demand Retirement Readiness Review Course [2:16] What's new with inherited IRAs? [5:56] The IRS announcement about required minimum distributions [9:32] The IRS changed the penalty for missing IRA distributions [10:07] IRS Notice 2044-25: The RMD for 2024 is being waived  [11:13] What should you do with this information? [13:04] What if you inherited a Roth IRA? The IRS announcement about required minimum distributions (RMDs) Everyone thought that non-eligible beneficiaries who opted for the 10-year window could choose how to withdraw the funds (as long as the account was emptied). We thought that you could minimize distributions in years where their income was higher and take higher distributions when their income was lower, choosing when to pay taxes on the account (and avoiding being in a higher tax bracket). Unfortunately, in February 2022, the IRS issued regulations to reflect the changes in the SECURE Act. They divided non-eligible beneficiaries into two groups: People who inherited an account from someone who passed away before they reached their RMD age. Someone who passed away after they reached their RMD age. If you inherit an IRA from someone who hadn't yet reached their RMD age could wait until the 10th year to take distributions. However, if the person died after they'd started taking RMDs, the beneficiary would have to take distributions out every year (continuing the distributions of the original owner). Thankfully, the IRS extended some relief and said if you were supposed to take RMDs in 2021–2024, the requirement would be waived.  The IRS also changed the penalty for missing IRA distributions from 50% and reduced it to 25%. If you missed a year where you were supposed to take it—as long as you make up the difference in two years—the penalty would be reduced to 10%.  What should you do with this information? It's time to do some tax projections of your future income. If you've inherited a retirement account, you must deplete it in the next 10 years. If you anticipate being in a higher tax bracket in the future, it may make more sense to take a distribution this year in a lower tax bracket.  If you inherited an IRA in 2020, you still have seven years left to empty the account. How will it impact your taxes? Where will a distribution land you on the tax bracket scale?  What if you inherited a Roth IRA? Listen to hear how required minimum distributions work for an inherited Roth IRA!  Resources Mentioned Retirement Readiness Review Subscribe to the Retire with Ryan YouTube Channel New Beneficiary IRA Distribution Requirements, #180   Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact Subscribe to Retire With Ryan

Ever worried about staying compliant with the IRS? New business owners often face confusion around tax regulations. This week on the Play Big Faster Podcast, host Scherrlie L. Prince chats with CPA and entrepreneur Charles J. Read, founder of GetPayroll. They delve into the world of tax compliance for small businesses. Learn the 7 essential steps to fight an IRS penalty and what to do if you receive a scary notice in the mail. Discover 5 key strategies to avoid employment tax pitfalls and gain peace of mind knowing your business is on the right track. This episode is a must-listen for new entrepreneurs, solopreneurs, and small business owners looking to navigate the often-complex world of taxes. If you're loving The Play Big Faster Podcast, here's how you can show some love back. Drop a rating and review on Apple Podcasts. Your feedback fuels this podcast's mission to empower more entrepreneurs like you to build the business they've always dreamed of. Simply click the episode link, scroll down, and hit those five stars. Don't forget to share what resonated with you the most about this episode! And, if you haven't already, hit that 'Follow' button. I've got a treasure trove of bonus content lined up, and you won't want to miss out. Your follow ensures you're in the loop for all the insider insights and entrepreneurial wisdom coming your way. Hit that 'Follow' button now! Thanks for being part of this incredible journey. Together, we're redefining what's possible in the world of entrepreneurship!  

Exploring the international tax aspects of Notice 2023-64, which provides interim guidance on CAMT.

In this episode, Roger and Annie cover recent federal tax updates and urge tax professionals to gear up for the October 15 extension by assessing their performance and contemplating tax software changes. They delve into rising IRS audit notices for the Employee Retention Credit (ERC), the new 1099-K reporting threshold, the IRS's halt on surprise visits by revenue officers, and the impending Corporate Transparency Act.SponsorsPadgett -  Contact Padgett or Email Jeff PhillipsGet NASBA Approved CPE or IRS Approved CELaunch the course on EarmarkCPE to get free CPE/CE for listening to this episode.Connect with the Hosts on LinkedInRoger HarrisAnnie SchwabReviewLeave a review on Apple Podcasts or PodchaserSubscribeSubscribe to the Federal Tax Updates podcast in your favorite podcast app!This podcast is a production of the Earmark MediaThe full transcript for this episode is available by clicking on the Transcript tab at the top of this pageAll content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only. (01:02) - Welcome to Federal Tax Updates : how to be proactive (08:26) - What's new with ERC (11:43) - Estimated tax payments or adjusting withholdings (14:05) - The start of IRS notices and what do they mean? (16:15) - How to respond to an IRS Notice? (28:51) - What kind of documentation does the IRS expect small business owners to have? (37:10) - Updates on 1099-Ks (46:32) - New changes in policy for the IRS (48:26) - Updates on the Transparency Act (54:17) - Making changes to your overall work environment (55:25) - Remember to subscribe so you don't miss an episode