IRS Penalties
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IRS Penalties

Last week I read that the Taxpayer Advocate Service's (TAS) case load has been growing substantially and this once great department inside the IRS does not have the resources to continue to handle its current inventory levels without adversely impacting its ability to provide effective...

If you have been impacted by a disaster in your area like many of my friends most recently here in Colorado due to flooding as defined by FEMA and identified by our President causing you to be unable to meet your tax obligations the IRS may...

If you chose to represent yourself in an IRS Examination realize the IRS Revenue Agent (RA) or Tax Compliance Officer (TCO) assigned your file is trained very thoroughly to advocate on behalf of the US Government. One method used quite often is to create a (false)...

The following is a compilation of the presentations given at the last IRS Stakeholder liaison meeting as prepared by IRS Senior Stakeholder Liaison Debra Rodgers complete with some very pointed questions and answers. Please pay particular attention to Nancy Carver's remarks concerning implementation of DOMA...

According to the newly released 2012 IRS Data Book, the IRS collected almost $2.5 trillion in federal revenue and processed 237 million returns, of which almost 145 million were filed electronically. Out of the 146 million individual income tax returns filed, almost 81 percent were e-filed....

In 2013, the IRS will focus the significant majority of their enforcement budget and subsequent activity in my opinion on three specific areas: 1. Abusive transactions and under reported income on partnership returns (IRS Form 1065). 2. Officer compensation as well as losses taken in excess of...

Bessie Castro-Zepeda, Colorado Department of Revenue Tax Practitioners only helpline; M-F 8am - 430pm (303) 232-2419 Capital Gain Subtraction: For 2012 returns, the department will make every effort to verify required documentation was included in the filing of the return before contacting the taxpayer for more information....

Regarding S Corp Late Filing Penalty Excused IRC 6699 Ensyc Technologies v. Comm'r, T.C. Summary 2012-55 (6/14/12) - considering the scope of the reasonable cause language to the Code Sec. 6699 penalty for late filing of an S corporation return, the Tax Court determined that the failure to...

The first thing that I always do when investigating a tax dispute is pull the transcripts from the IRS for review. They can be really hard to read if you don't understand the Transaction Codes referenced. Transaction Codes are defined in IRS Document 6209 - Section...

Look on the IRS notice or letter you received in the upper right hand corner for an alpha numeric sequence.  The corresponding IRS explanations below to their Notices and letters are sub categorized as follows: 1. Redesigned Notices 2. Other Notices 3. Individual Filer 4. Business Filer Redesigned Notices Notice Number Description Topic CP01H You...

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