Resolve Your Tax Debt To Save Your Passport
Can You Get a Passport if you Owe Taxes? If you have unpaid federal tax debt, you may be in for a surprise. The State Department will revoke your passport, or not issue you a new passport, if you owe a significant tax debt to the IRS. For this reason, taxpayers with tax debts and […]
LT38 Notice: Prepare for IRS Collection Actions
Received an LT38 notice? The IRS is resuming efforts to collect your overdue taxes. Immediate action is needed to avoid further penalties and interest. In our Atlanta-based CPA practice, we have noticed a significant increase in the number of clients receiving IRS notices during 2024, including the LT38 Notice in particular. Our firm’s experience is […]
Mastering IRS CP49: How to Handle Tax Refund Adjustments
IRS Notice CP49 may surprise you, informing you that your tax refund was used to pay off unpaid tax debts. This means the IRS applied your expected refund to settle outstanding liabilities. In this article, we’ll explain why you received Notice CP49 and how to handle its consequences. Key Takeaways IRS Notice CP49 informs taxpayers […]
CP523 Notice: Steps to Keep Your IRS Payment Plan Intact
Receiving an IRS CP523 notice means the IRS intends to terminate your installment agreement due to a default. This notice is a warning that you must take immediate action to keep your plan intact. In this article, we will explain what a CP523 notice is, why you might receive one, and the essential steps to […]
Divorce and Taxes: How to Protect Yourself
Divorce and taxes are the important subject of our live event with Pacific Cascade Legal, a premier family law firm in Oregon and Washington. We discuss how divorce impacts joint tax liability, when there might be relief granted for separation of joint liability, and other important tax considerations when navigating divorce from your spouse. […]
How to Avoid IRS Trouble
The thought of IRS trouble, “red flags” and audits are enough to worry any business owner. In this podcast, we talk about how to avoid IRS tax problems, and what to do if they arise. In the podcast, we cover a variety of topics including: Organizing your business for tax preparation Tax calendar […]
Statistics on Federal Tax Liens in Alpharetta, GA
This is the first in our series of reports analyzing federal tax liens on Georgia businesses. Along with tax levies and garnishments, federal tax liens are one of the most powerful weapons available to the IRS in its efforts to collect back taxes. As of 2022 there were more than 15 million taxpayers nationwide in […]
Trust Fund Recovery Penalty
The Trust Fund Recovery Penalty is a very severe set of rules that are meant to encourage voluntary compliance with our payroll tax laws. Payroll taxes includes the income tax and Federal Insurance Contributions Act (“FICA”) taxes that are withheld from every employee’s paycheck. It also includes the employer portion of FICA. The business pays […]
Georgia Offer in Compromise and Tax Payment Plan
Georgia State Tax Forgiveness: How it Works The Georgia Department of Revenue (GA DOR) allows taxpayers to settle a tax liability for less than the total amount owed. This is called an offer in compromise and is one of the more popular tax debt relief programs in Georgia. These programs are also known as […]
Tax Relief: Appeal of a Tax Matter
What to Expect after Requesting an Appeal of a Tax Matter Appeal of a an IRS decision is a good option if you disagree with the IRS in a tax matter. You may be able to avoid the time and expense of a court trial by asking the IRS Independent Office of Appeals to review […]