What If an Estate Cannot Pay Taxes? Guide to Handling Tax Debts After Death
What if an estate cannot pay taxes? If the estate does not have enough money to cover its tax bill, the executor must deal with the tax debt, communicate with the IRS, and follow the rules for paying claims in order; if the estate is insolvent, some taxes and other debts may go unpaid, and […]
Can the IRS Audit a Deceased Person? What You Need to Know
Can the IRS audit a deceased person? Yes, they can, and the process works much like an audit for a living taxpayer to make sure all final tax obligations are met. If you’re an executor, personal representative, surviving family member, or anyone handling a deceased person’s tax affairs and estate, you may have to respond […]
Best Strategies to Handle an IRS Bank Levy Effectively
An IRS bank levy is a serious action the IRS can take to collect unpaid taxes by freezing and seizing funds from your bank account. If you’re facing a bank levy, understanding the process and knowing your options is crucial to protecting your finances. This article will guide you through what an IRS bank levy […]
Fresh Start IRS Tax Relief Program: How to Achieve Tax Debt Relief
Are you overwhelmed by tax debt? The IRS Fresh Start Tax Program offers relief options tailored to your needs. This article explains how you can reduce your tax liabilities and outlines the steps to apply. Discover if this program could help you achieve much-needed financial relief. Fresh Start IRS Tax Relief: Key Takeaways The IRS […]
CP523 Notice: Steps to Keep Your IRS Payment Plan Intact
Receiving an IRS CP523 notice means the IRS intends to terminate your installment agreement because your plan is in default—often from missed payments or a new tax balance—and you generally have 30 days to respond and fix the problem. If you are already on an IRS payment plan, or you are an individual or small […]
Delinquent Tax Return Preparation: Late Tax Returns
Many taxpayers find themselves behind on filing their tax returns for prior years due to various reasons such as life changes, financial difficulties, or simply overlooking deadlines. However, addressing delinquent tax returns promptly is essential to avoid escalating penalties, interest, and potential legal consequences. Our CPA firm specializes in delinquent tax return preparation, helping clients […]
How Do I Get an Offer in Compromise Approved: Mastering the IRS Offer in Compromise and Reducing Tax Debt
Are you overwhelmed by tax debt and looking for a solution? An IRS offer in compromise (OIC) might be the lifeline you need. This program allows eligible taxpayers to settle their tax debts for less than the total amount owed. In this article, we’ll explain what an OIC is, how to determine if you qualify, […]
I Haven’t Filed Taxes in 3 Years. What Do I Do?
Haven’t filed my taxes in 3 years? It’s essential to take action quickly to avoid severe penalties and legal issues. This article will guide you through the immediate steps to get back on track, the consequences of not filing, and the options available to manage your tax debt. Additionally, filing your taxes is crucial to […]
Top Benefits of Professional Representation for Tax Audit
A tax audit can be challenging. Tax audit representation involves professionals guiding you through the audit, protecting your rights, and reducing financial risks. This article covers the benefits of having expert support during an IRS audit. Professional Representation for Tax Audit: Key Takeaways Professional tax audit representation helps navigate the IRS audit process, ensuring compliance […]
Tax Debts and Bankruptcy
Does bankruptcy clear tax debt? Sometimes. Bankruptcy can discharge some tax debts—most often older income tax debts if specific timing rules and filing requirements are met—but many tax debts, including payroll taxes, penalties, and debts tied to fraud or evasion, usually are not. For individuals and business owners dealing with IRS or state tax debt, […]
Should I Hire a CPA or a Tax Attorney to Resolve My Tax Problem?
If you are asking, “should I hire a CPA or a tax attorney to resolve my tax problem,” the answer depends on what kind of problem you have. A CPA is usually the right fit for numbers, records, and tax preparation. A tax attorney is usually the right fit when the issue involves enforcement, legal […]
IRS LT38 Notice: Prepare for Collection Actions
The IRS has fully resumed its tax collection activities following a pause during the pandemic. In our CPA practice, we have observed a notable rise in the number of clients receiving IRS notices throughout 2026, especially IRS Notice LT38. This notice serves as a notification that the taxpayer has outstanding tax debts that require immediate […]
Can Creditors Take Your Tax Refund and How to Protect It
Worried about who can take your federal tax refund? Federal and state agencies, as well as private creditors, may have the authority to seize it. This article will explain which entities can take your refund and how you can safeguard it. Federal and state agencies can seize tax refunds to recover outstanding debts, including unpaid […]
How to Handle an IRS Notice CP14
An IRS CP14 notice means you owe taxes to the IRS. This guide will explain why you got the notice and what you need to do next. Key Takeaways A CP14 notice from the IRS indicates outstanding tax debts and includes details such as the amount owed, reasons for the balance, and instructions for payment. […]
Can the IRS Levy a Business Account for Personal Taxes? | Facts
Can the IRS levy a business account for personal taxes? Yes, but it depends on the business structure. If the business is a sole proprietorship, the IRS can levy the business account for personal tax debts. But for corporations and LLCs with separate finances, personal tax issues shouldn’t affect business accounts. This article breaks down […]
Optimize Your Tax Savings With a Short Term Rental Tax Calculator
A short term rental tax calculator helps property owners estimate rental income, allowable deductions, depreciation, and overall tax liability so they can see what they may owe and where tax savings may be available. Short-term rental properties can be complex, especially when it comes to taxes and deductions, so whether you’re a seasoned investor or […]
Effective Tax Lien Help: Top Strategies to Resolve IRS Tax Liens
Need tax lien help? You’re not alone. This article explains what an IRS tax lien is and outlines practical steps to resolve it. Whether it’s paying in full, setting up an installment plan, or negotiating a settlement, we’ll guide you through the process. Key Takeaways An IRS tax lien is a legal claim against your […]
Can I Skip an IRS Installment Payment? Here’s What You Need to Know
Can I miss an IRS installment payment? The short answer is no, but there are options for those who are struggling to pay. This article will walk you through the rules, the consequences and your options. Note: Missing an IRS installment payment can result in penalties, interest or even collection actions so make sure you […]
Understanding Tax Representation: Essential Insights for Taxpayers
Tax representation allows professionals to assist you during IRS inquiries, audits, and collections. It can ease your stress and improve communication with the IRS throughout various tax-related challenges. In this article, you’ll learn what tax representation is, who can provide it, its benefits, and how it plays a vital role in managing IRS collections as […]
Certificate of Release of Federal Tax Lien: What Is a Federal Tax Lien? How to Solve the Problem
A Certificate of Release of Federal Tax Lien is the IRS document that proves a federal tax lien has been released after the tax debt is paid or otherwise resolved. A federal tax lien is the government’s legal claim against a taxpayer’s property when taxes are owed and the IRS intends to collect these taxes, […]
Can You Go to Jail for Not Paying Taxes? Here’s What to Know
Yes, you can go to jail for not paying taxes, particularly in cases of tax evasion or fraud. Can you go to jail for not filing taxes? The possibility exists, particularly if the failure to file is intentional and aimed at evading tax obligations. These situations involve deliberately avoiding tax payment. In this article, we’ll […]
IRS Certified Mail: How to Handle Important Tax Notices Effectively
IRS certified mail is the IRS’s official way of delivering important tax notices with tracking and proof of delivery, so you know the issue is serious and time-sensitive. If you’ve received one and need to understand what it means, how to respond, and what happens if you ignore it, this article explains why the IRS […]
Top Tips for Handling an IRS Notice of Deficiency
An IRS Notice of Deficiency informs you that you owe additional taxes due to discrepancies in your tax return. This document, also known as a ‘90-day letter,’ gives you 90 days to respond. In this article, we’ll explain what a Notice of Deficiency is, why you might receive one, and the steps you should take […]
IRS Notice CP2000: What is It?
What is IRS Notice CP2000? IRS Notice CP2000 is one of the most common IRS letters that we see in our CPA practice. The IRS mails these cp2000 notices to taxpayers when the income information on a filed return does not match income statements and payment information the IRS receives from third parties, such as […]
IRS Hardship Program: Currently Not Collectible
We regularly meet with clients of our accounting firm who owe taxes to the IRS that they cannot afford to pay due to a financial hardship. Sometimes it is a tax bill for one year. Frequently it is a tax bill for multiple years. The IRS offers a number of solutions that provide tax relief to taxpayers […]
Top Tips for Managing a GA State Tax Lien
A GA state tax lien is a legal claim on your property due to unpaid state taxes. This article will explain what a GA state tax lien means for you, how it’s filed, its effects on your property, and ways to remove it. Key Takeaways Georgia state tax liens are serious legal claims on property […]
Top IRS Audit Triggers and Data Analytics
Curious about what might trigger an IRS audit? This article delves into the key IRS audit triggers you should be mindful of. From discrepancies in your tax return and unreported foreign assets to the use of advanced data analytics tools by the IRS, we explore the top factors that could place you under IRS scrutiny. […]
🎉WOOHOO!! We Made the Best of 2024 My Dunwoody List 🎉
Exciting News!!! Massey and Company CPA has been recognized as the best CPA firm in Dunwoody in 2024 by Atlanta Best Media! Thank you for the support of our clients and our amazing Team, who have made this possible. We are so thrilled with our growth over the past 10 years. Click HERE to meet all the […]
What is a Tax Levy? Understanding the Difference Between Tax Levy and IRS Wage Garnishment
How to Handle an IRS Tax Levy or Wage Garnishment Is there a difference between a tax levy and a garnishment? A federal tax levy is the seizure of money or other property by the government to pay off back taxes. A garnishment is a type of levy, where the IRS seizes wages to satisfy […]
IRS Tax Relief in 2021
IRS Payment Plans, Tax Liens, Tax Transcripts and More: Navigating the Tax Relief Maze. IRS tax relief includes more than just resolving back taxes. It includes filing missing returns, reconstructing accounting records, interpreting the statute of limitations, analyzing arcane IRS transcripts and the pain and embarrassment of dealing with the IRS. Which way should you […]
Does Bankruptcy Clear Tax Debt?
Bankruptcy is one of the tools we discuss in our Atlanta CPA firm with clients burdened by back taxes they cannot afford to pay. If you are asking does bankruptcy clear tax debt, the short answer is yes—bankruptcy can provide debt relief and clear some IRS debt, but only specific types of tax debt may […]