Category Archives: IRS

Another Incorrect IRS CP2000 Notice

Posted on September 28, 2016 by Russ

One of my clients received an IRS CP2000 notice today alleging he did not include $1000 of ordinary dividend income. And the IRS was correct: She forgot to provide me the 1099-DIV. Yet the IRS, in the same notice, states … Continue reading →

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Extension Deadline for Business Entities; 3rd Quarter Estimated Tax Payment Deadline

Posted on September 14, 2016 by Russ

Thursday, September 15th is the filing deadline for business returns on extension: C-Corporations (Form 1120), S-Corporations (Form 1120S), partnerships and LLCs that file as partnerships (Form 1065), and trusts (Form 1041). You can either electronically file or mail your returns … Continue reading →

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Five Sentenced for Tax Fraud; Justice Department Gets ITINs Wrong

Posted on August 14, 2016 by Russ

A Justice Department press release caught my eye. Five individuals, all Mexican nationals residing in the US, were sentenced to ClubFed for terms between 33 months and 121 months. The five individuals had pleaded guilty to conspiracy to commit mail … Continue reading →

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Exempt Organization Extension Filing Deadline Is Monday

Posted on August 11, 2016 by Russ

The extension deadline for filing Form 990 series returns for tax-exempt organizations is Monday, August 15th. This deadline is for the 501(c) series of organizations that filed extensions back in May, including charitable organizations, welfare organizations, social clubs, and other … Continue reading →

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IRS Transcript Delivery System Down this Weekend

Posted on June 30, 2016 by Russ

The IRS’s Transcript Delivery System (TDS) will be down tomorrow beginning at 12:01am, and will not come back up until Tuesday morning. The IRS announcement indicates they will be performing maintenance during this period. TDS is supposed to be back … Continue reading →

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The Self-Employment Tax While Employed???

Posted on June 28, 2016 by Russ

One of my clients was quite upset this morning. She had received an IRS Automated Underreporting Unit (AUR) notice alleging that she owed about $4,000 in additional tax. She sent me a copy of the notice and I looked at … Continue reading →

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Why You Use Certified Mail

Posted on June 12, 2016 by Russ

A client was in IRS Appeals contesting the late filing penalty for his 2012 tax return. His return, which was ineligible for electronic filing, was on extension. The extension was timely electronically filed. The client believes he went to the … Continue reading →

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Only the IRS Can Unite Democrats and Republicans

Posted on May 30, 2016 by Russ

Last week Congress held a hearing on the IRS refusing to return wrongly seized small business owners assets. Only the IRS could unite Democrats and Republicans this year, and once again the IRS managed to do so. As reported in … Continue reading →

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Bozo Tax Tip #1a: They Shoot Jaywalkers, Don’t They? (Or Ignoring the FBAR!)

Posted on April 15, 2016 by Russ

I have, unfortunately, become quite competent in the Report of Foreign Bank and Financial Accounts. That form is better known as the FBAR. It used to have the form number TD F 90-22.1 (yes, it really did) but now goes … Continue reading →

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Bozo Tax Tip #3: Let Your IRS Notice Age Like Fine Wine!

Posted on April 13, 2016 by Russ

My brother is a wine connoisseur. As all my friends know, I’m anything but a wine aficionado. But I have learned one difference between fine wine and a notice from the IRS: Wine can age very well but IRS notices … Continue reading →

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