Jim Payne's Tax Blog in Gainesville, FL

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...

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...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The IRS Offer-in-Compromise is an agreement to clear a tax debt for less than its face value. Making the offer is a time-consuming task that requires a considerable amount of reporting to the IRS to sh...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The Do It Yourself (DIY) approach can produce very poor results. Simply not knowing how the system works can result in a payment plan with higher amounts than you can make. But, not always. The IRS doe...

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...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The IRS Offer-in-Compromise is an agreement to clear a tax debt for less than its face value. Paying less is a great goal but your effort will be waisted if you don’t do all the steps.Making the offer ...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. One of those issues is debts owed to the IRS for past taxes. The IRS has a lot of tools in their toolkit to include seizure of cash accounts and levies on wages. One of the newest tools is to revoke th...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. One of the common mistakes that non-filers make is to reason that because they had income tax withholding that probably exceeded their liability, they are immune from ...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. An Offer-in-Compromise can be a great technique for clearing an IRS debt for less than the total due. But many times, these offers are rejected by the IRS because the ...

I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS and Florida Department of Revenue. See this post about the absolute worst business mistake. But what is the second worst mistake you can make that often leads to the worst mistake? The answer is misclas...