Sean H. A CP2000 Notice is a correspondence that the Internal Revenue Service (IRS) sends to taxpayers when the information reported on their tax return does not match the information received from other sources, such as employers, banks, or other payers. The IRS will contact you when they find unreported or underreported income, but never underreported expenses. … Read more
To contact the Internal Revenue Service (IRS), you can use the following methods: 1. Phone: Call the IRS helpline at 1-800-829-1040 for individual taxpayers or 1-800-829-4933 for businesses. The helpline is available Monday through Friday from 7 a.m. to 7 p.m. local time. 2. Online: Visit the IRS website (www.irs.gov) and search for the specific … Read more
Smiling through an IRS audit can be tough, but it’s not impossible! We help you navigate the process with ease.
Question: I agree with the IRS notice, which informs me that I had forgotten to include several income items from my tax return. Should I amend my tax return as a response? Answer: It depends. Will the issue be resolved by sending the IRS a response? If yes, most likely you can send a response … Read more
You get an IRS notice. You agree with the assessment since you forgot to report the $200 dividends from one of your accounts. You send the payment to cover the bill. You assume the matter was closed. Then, a few weeks later… The IRS sends you a bill. Thoughts start running through your head. Did … Read more
Ah, the glamorous life of the self-employed—setting your own hours, being your own boss, and navigating the maze of tax deductions like a pro. It’s a wild ride, but fear not! We are here to guide you through the jungle of expenses you can deduct. In a nutshell, self-employed people can work as freelancers or … Read more
An IRS letter that asks for supporting documentation is simply an attempt to review your accounts and documents to ensure you’re reporting things correctly. The IRS assessment is not set in stone. In other words, you have the option to agree or disagree with IRS. If you agree, simply follow the instruction in the letter … Read more
Question: I found an expense related to my sole-proprietory business. I want to file a tax amendment to reflect the business expense. Before I do that, I want to make sure of something. Will filing a tax amendment result in a higher IRS Audit risk? Answer: Most IRS audits and notices are generated electronically, which … Read more
The first step in tax resolution is gathering facts and documents. Once we have the necessary information, we can work on an action plan. Contact us on how we can help determine whether or not what the IRS alleges is correct and how we can respond to the IRS notice effectively. With our help, you … Read more
We help taxpayers plan and file their individual tax returns, and when issues arise, we help them on their path to resolution. Below are our best tax tips: