Author Archives: Russ

Evergreen Post: IRS Sending Erroneous Balance Due Notices

Posted on November 5, 2021 by Russ

Many of our clients have authorized us to receive IRS notices for them.  Yesterday, we received three “balance due” (CP14) notices.  I was quite surprised, as all three individuals paid their tax by electronic debit with the filing of their … Continue reading →

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IRS Efficiency and Inefficiency

Posted on October 7, 2021 by Russ

It was with fear and trepidation I logged onto IRS eServices this morning.  This is the portal that allows me to download transcripts for clients from the IRS (when I have an authorization).  On September 16th, I had electronically uploaded … Continue reading →

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Prepare to Panic!

Posted on September 29, 2021 by Russ

As I write this, it’s September 29th. Two weeks from Friday is October 15, 2021. That’s the deadline for individual taxpayers on extension to file their tax returns (except for those in disaster areas such as the hurricane that impacted … Continue reading →

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The WSOP and Taxes (2021 Update)

Posted on September 26, 2021 by Russ

The World Series of Poker will begin here in Las Vegas on September 30th.  While attendance is likely to be less than in previous years (it’s still difficult to travel internationally to the United States), thousands of poker players will … Continue reading →

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It’s Deja Vu All Over Again: IRS *Again* Mailing Erroneous CP259F Notices

Posted on September 20, 2021 by Russ

One would think that the IRS would learn from its mistakes.  One would be wrong (at least, in this case).  Back in November 2020 I wrote a post titled, “IRS Mailing Erroneous CP259F Notices.”  That post dealt with taxpayers who … Continue reading →

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Tax Relief for Hurricane Ida in New York and New Jersey

Posted on September 8, 2021 by Russ

Hurricane Ida created disaster conditions in Louisiana; the IRS previously granted relief for impacted taxpayers in various parishes in the state.  President Biden just declared a federal disaster area for many counties in New Jersey and New York (including New … Continue reading →

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Can the IRS be Honest About the Delays in Processing?

Posted on September 2, 2021 by Russ

The IRS maintains a webpage showing operational status during the pandemic.  Additionally, the IRS periodically sends out “Hot Issue” summaries.  One of the items asked in the “Hot Issue” questions was on amended returns: 1040X not processed Issue:  When will … Continue reading →

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Tax Agencies Need to Modify Deadlines to Account for Post Office Delays

Posted on August 27, 2021 by Russ

In today’s mail I received some notices from a tax agency.  That’s not unusual: We have many Tax Information Authorizations and Powers of Attorney on file.  And it wasn’t out of the ordinary that all three notices were for the … Continue reading →

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There’s No Basis for that Argument

Posted on August 25, 2021 by Russ

Yesterday, TIGTA release a report, “Efforts to Address the Compliance Risk of Underreporting of S Corporation Officers’ Compensation Are Increasing, but More Action Can Be Taken.”  From the report: TIGTA’s analysis of all S corporation returns received between Processing Years … Continue reading →

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Martin Veneroso, E.A.

Posted on August 24, 2021 by Russ

Clayton Financial and Tax isn’t the largest tax firm, but one thing I’ve insisted on is that all preparers be credentialed (either Enrolled Agents or CPAs).  The reason is that it shows a dedication to the profession, and a willingness … Continue reading →

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