A Notice of Deficiency is a formal written claim by an agency that you owe income taxes with interest and penalty dues. The Notice of Deficiency also explains that an assessment is being calculated in regard to your income taxes owed. A Notice of Deficiency is also referred to as a “ninety day letter”; because… Continue reading →
IRS
IRS Audit Facts | Interesting Infographic
This infographic presents a visual story of how to avoid an IRS Audit. Over a million people just like you get audited each year. Are you at risk of an audit? Find out now.
IRS Tax Return System Is Not Able to Retire Yet….
The Internal Revenue Service is not ready to retire the legacy e-file system. The e-file system became operational nationwide in 1990 and transformed the way taxes were filed. The e-file has proven in its time to be win-win for everyone. The taxpayers get their refunds by as fast as 10 days. Or, they have payment options to file… Continue reading →
IRS Installment Agreements
If you owe back taxes to the IRS an installment agreement is one of the most common methods used to make payments to the IRS. A monthly general plan is usually the simplest way to set up an arrangement to pay off any taxes owed to the Internal Revenue Service. Even if you are filing your taxes… Continue reading →
IRS Commmissioner to Step Down
The Internal Revenue Service (IRS) Commissioner Doug Shulman has announced officially his plans to step down the end of this term. Mr. Shulman is the 47th commissioner to serve and he has been in office since March 24th, 2008 and plans to step down on November 9th, 2012. George W. Bush appointed Shulman to office…. Continue reading →
New Healthcare Changes for Small Businesses – IRS
The Supreme Court recently settled a divided debate when it ruled that the Patient Protection and Affordable Care Act (PPACA) individual mandate is constitutional and that the “shared responsibility payment” is a tax. How will this affect you? History Beginning in 2014, the PPACA will require individuals to carry a minimum healthcare coverage for themselves… Continue reading →
