Jim Payne's Tax Blog in Gainesville, FL

Follow me
By
Services for Real Estate Pros - Backoffice Squared
RECENT BLOG POSTS
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. Previously I detailed that there was a statute of limitations on when you could file a claim for a refund and get credit for any overpayments. That limit is 3 years from the due date or 2 years from th...
03/31/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. Lots of Non-Filers are not out to rip off the IRS. They figure they have a refund, so the due date is not important to them. After all, the penalties for late filing are all based on the amount owed to...
03/28/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS. The taxpayer refuses to file a return. The IRS records of 1099s and W-2s show that the taxpayer probably owes taxes, so they file a return for the taxpayer. This is called a ‘Substitute for Return’ and...
03/25/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.The IRS cannot assess a tax on you without a filed return. This puts them in a difficult spot. If the taxpayer does not file a return, what can they do to get a balance due on their books? The answer is...
03/23/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.Millions of calls from taxpayers to Taxpayer Service never get answered. After spending hours on hold, you might hear a click and then a dial tone. This is the IRS’s ‘curtesy’ hang-up because their comp...
03/16/2022
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
Rainmaker
39,392

Jim Payne, CPA

CPA firm practicing in the area of IRS Collections
smartphone(352) 317-5692
local_phone(352) 376-9401
Contact The Author