Jim Payne's Tax Blog in Gainesville, FL

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RECENT BLOG POSTS
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.The majority of taxpayers get a refund after filing their 1040. Late filing by these people is not normally a problem since all the penalties are based on the amount of tax due. But, filing too late can...
01/15/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.Generally, the IRS has 10 years to collect from someone. This period starts on the date of assessment and can be tolled (suspended) for a variety of different reasons. Once the Statute runs, the IRS is ...
01/13/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.You get a call from your stockbroker or maybe even a customer that they have been contacted by the IRS requesting information about you. The IRS is supposed to notify you in advance of such contacts, bu...
01/08/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. You do the many hours of work to produce an Offer-in-Compromise that shows it is in the Governments best interest to accept 50% on the dollar. You then submit it and after waiting for months the IRS fi...
01/06/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. Participating in the global economy can easily run you afoul of the Government for the failure to report on Foreign Financial Accounts. The civil penalties for failing to report can cost you 50% of you...
01/01/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The IRS reinstated an old program in 2019 of using non-government collection agencies to collect IRS tax debts. The IRS’s policy is to only assign accounts that have been “inactive” for more than a yea...
12/30/2019
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. Form 433 is used by taxpayers to submit financial information about what they own and future revenues to the IRS Collections Division. This information is used by the IRS to determine how much money th...
12/23/2019
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. IRS correspondence is rarely a fun thing to receive. The result is that most people fail to notify the IRS of address changes. Most of the time, not a big deal. But sometimes this failure to notify can...
12/18/2019
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. One of the concerns many taxpayers have in an IRS audit is the request to turnover the backup files for their electronic accounting software such as QuickBooks. You have no choice but to comply with th...
12/16/2019
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. Normally, new tax laws get their own bill and some bland title that produces a nifty acronym. But that was the old days when it was possible for Congress to find some common grounds. The new reality is...
12/11/2019
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Jim Payne, CPA

CPA firm practicing in the area of IRS Collections
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