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 IRS has more collection powers than any private debt collector in the US system. They can for example seize IRA and 401K accounts. These are off-limits to any other creditor. Given these powers, w...
07/04/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The IRS estimates that there are over 7 million non-filers in the US. At one time it was reasonably possible for someone to fly below the radar without filing. That is getting harder to do. The IRS has...
06/16/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The technical answer is – it depends. It depends on the type of expenditure and it depends upon the IRS auditor’s evaluation of the situation. There are several Internal Revenue Code Sections such as ...
06/09/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Scenario – You need to make payroll this week, but you don’t have the cash. So, you go to Mom for a loan. She wants to help, but there are limits to her willingness. The result is that she writes ...
05/27/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Scenario - Your business has fallen behind on paying the payroll taxes because of cash flow. You can borrow some money personally to pay part of the past due, but not enough to full pay. How shoul...
05/21/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The Coronavirus shutdown is going to put a lot of business owners in a bind of monumental proportions. Many of them are striving to keep their employees on even though their revenues are substantially...
05/19/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.  The IRS has issued a notice that rains upon the PPP parade. The CARES Act sounded like a great thing to keep many small businesses in operations while everybody sheltered at home. Loans at 2.5 times m...
05/06/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. One of the current problems at the IRS as pointed out by Tax Advocate Service’s 2018 Annual Report to Congress was the blurring of the lines of when has a tax return been audited vs. a math error corre...
04/28/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.You owe the IRS a lot of money. What can you do to get your life back on track? Basically, it comes down one of three options:          Convince the IRS that you are not in a position to pay          Ma...
04/21/2020
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.The IRS announced last week in IR-2020-59 that it was shutting down most of its Collection Division Activities. This means no new liens or levies until July 15 unless the Statute of Limitations is about...
04/07/2020
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Jim Payne, CPA

CPA firm practicing in the area of IRS Collections
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