Ralph Nelson's Blog

By Ralph Nelson, EA, Kenny Kim, EA, MDYou are not alone. Hundreds of thousands of taxpayers get audited every single year.While getting the audit letter often causes people to panic, in reality, 70 percent of audits are just a letter asking for more information on your tax returns, and you're ask...

By Ralph Nelson, EA, Kenny Kim, EA, MDAn Offer-in-Compromise (OIC) might be an excellent alternative to paying off your income tax debt for less than the amount owed if the taxpayer has a financial problem that prevents them from paying it in full. While the OIC is an excellent method to solve on...

Have you missed the payment deadline and have interest and penalty charges tacked on? It might be a nightmare, especially if your budget is tight. Fortunately, there are instances when penalties may be reduced or altogether eliminated.Here are four examples of such situations. reasonable-cause  s...

By Ralph Nelson, EA, Kenny Kim, EA, MDThe IRS imposes tax penalties, including interest, if the taxpayer does not file or pay the tax on time or misrepresents their tax liability. We want to discuss four of the most frequent tax penalties and what can be done to have them canceled or reduced.1. F...

By Ralph Nelson, EA, Kenny Kim, EA, MDAn offer-in-compromise (OIC) is an agreement between a taxpayer and the IRS to settle their tax debt for less than what is owed. Financial Harmony Tax Resolution LLC specializes in submitting OICs for local taxpayers in the San Francisco Bay Area. And in doin...

By Ralph Nelson, EA, Kenny Kim, EA, MDTaxpayers come into our office after their bank accounts or wages have been levied by the IRS. They ask us, "what can we do to make the IRS stop the levy action?"Here are three ways to make the IRS tax levy go away.Step #1. File your last six years of tax ret...

You could sell your house with an IRS tax lien no matter what your cousin says.It is all about writing the “right letter” to the IRS to reassure them that they will be the ones receiving the proceeds from the sale of the house. The IRS will be more than happy to discharge the house from the lien ...

By Ralph Nelson, EA, Kenny Kim, EA, MDYou’ve had enough. You are constantly reminded of many back-tax returns you have not filed. The fear of the IRS knocking on your door is weighing you down. Before you sit down with your accountant to file the returns, remember that there is a strategy you sho...

By Ralph Nelson, EA, Kenny Kim, EA, MDIf your spouse cheats on his taxes, files a joint return, and owes the IRS money, you could be liable for the entire IRS debt. Innocent spouse relief is a way to separate you from your liable spouse’s unpaid tax debt. However, even if you have a separation an...

By Ralph Nelson, EA, Kenny Kim, EA, MDFinancial Harmony assists taxpayers who are dealing with an IRS Tax Levy. Tax Levies are a mechanism through which the IRS confiscates taxpayers’ assets to pay for the unpaid tax debts. This blog is to discuss the types of levies and how they work.There are t...