IRS Tax Help – Page 4

February 20 2012

Receiving a Letter from the IRS

Todd Courser and Associates IRS Tax Help

If the IRS finds a problem with your tax return, you will receive a letter. When the IRS proposes a change to your tax return, you do not need to accept the change. Sometimes the IRS does make mistakes, one reason being many changes are computer generated. If you have questions about your IRS letter or feel that it might be wrong, give us a call. We can help. We deal with these every day and will know how to help you.

Below are some letters that you might receive from the IRS if they propose that you owe additional money:

Individual Filers –

CP 11 – The IRS has made changes to your tax return because of a miscalculation. They say you owe additional money, as well as penalties and interest.

CP 11A – The IRS has made changes related to the Earned Income Credit on your tax return because of a miscalculation. They say you owe additional money, as well as penalties and interest.

CP 11M – The IRS has made changes related to the Making Work Pay and Government Retiree Credit. They say you owe additional money, as well as penalties and interest.

CP 14 – The IRS says you owe money on unpaid taxes, as well as penalties and interest.

CP 21A/CP 22A – The IRS made changes that you requested for your tax return and you owe money, as well as penalties and interest, because of the changes.

CP 21E/CP 22E – The IRS made changes to your tax return because of your audit. They say you owe additional money, as well as penalties and interest.

CP 21I/CP 22I – The IRS made changes related to your IRA taxes on your tax return. They say you owe additional money, as well as penalties and interest.

CP 23 –The IRS found a discrepancy with the estimated tax payments that you have paid during the year with the estimated tax payments that you reported on your tax return. You may owe additional money, as well as penalties and interest.

CP 88 – The IRS says that you did not file a tax return from a previous year and must do so in order to collect a tax return refund from the current year.

CP 90 – The IRS says that they intend to levy your assets because of your tax debt, if you don’t respond within 30 days from the date of the notice. You can request a Collection Due Process Hearing within these 30 days. Call us immediately. Do not wait 30 days. If you wait, the IRS will take your money, your problem will grow larger and it will be more costly to fix.

CP 91 – The IRS says they intend to levy your Social Security benefits because of your tax debt, if you don’t respond within 30 days from the date of the notice. Call us immediately. Do not wait 30 days. If you wait, the IRS will take a portion of your benefits, your problem will grow larger and be more costly to fix.

CP 501 – The IRS says that you owe money on your taxes from a previous year. They may list their intended actions if you don’t respond within 10 days from the date of the notice.

CP 503 – This is a second notice that the IRS sends to reiterate CP 501.

CP 504 – This is the final notice that the IRS sends to remind you to pay your unpaid taxes. They will place levies on your property, which may include seizing your state income tax refund.

CP 521 – The IRS says that your installment agreement payment is due and that penalties, interest and fees will continue to accumulate until the debt is paid in full.

CP 523 – You have defaulted on your installment agreement that you set up with the IRS. They are terminating your installment agreement and seizing your property.

CP 2000 – The IRS says that the information provided to them by your employer, bank or other related payer, does not match the information that you provided to them on your tax return. After an audit, they are proposing changes that they intend to make on your return. You may owe additional money, as well as penalties and interest. If you disagree with the changes, call us. We can help. 810-245-0813

February 10 2012

Contacting the IRS

Todd Courser and Associates IRS Tax Help, Uncategorized

The IRS contacts you when they feel you owe them money. This may be a debt that you know you owe or it may be a debt that came about because the IRS made a change on your return. They make changes for various reasons, one of which is an audit of your tax return. The important point to know is that as a result the debt will continue to accrue penalties, interest and fees until it is paid in full. So it is imperative that the IRS is contacted immediately.

You may be tempted to contact the IRS directly or maybe an IRS agent has tried to contact you. In either case, be careful. They can use anything you say against you. If you give them too many details, the agent may find an alternate route to collect extra money from you. If you don’t give them enough details, you can be accused of tax evasion or tax fraud. If you are speaking with the IRS, they will assume that you know tax law. If you don’t, call us. We have tax attorneys. Let us deal with the IRS on your behalf. We deal with them every day. We can solve your problems. 810-245-0813

September 21 2011

Taxes and Bankruptcy – Part 1

Todd Courser and Associates Bankruptcy, IRS Tax Help, Uncategorized

Dealing with taxes within the Bankruptcy Courts is a problem that causes a lot of confusion for clients. It can also sometimes be difficult for the tax or bankruptcy attorney to sort out the many details and timelines. In my practice, I routinely advise clients in both areas. Most of the time, we are able to discharge IRS debts or create payment plans through the Bankruptcy Courts that the IRS would never even consider. It is best to work with an attorney who is well-versed in both areas of the law, has a deep understanding of the process in which back taxes are dealt with under the Bankruptcy Code and how these issues should be handled within the practice. Each client situation is different and the idea of crafting a plan can be painstaking but if the client is willing and the attorney is knowledgeable, then many times taxes can be dealt with and sometimes even eliminated through the use of the Bankruptcy Code. I have seen attorneys who do not understand the basics of bankruptcy timelines miss the opportunity to discharge tax debts due to a lack of professional follow through. So it is most advisable for a client to do a thorough investigation into the attorney they are using for either tax problems and or bankruptcy before committing to any plan.

Please call my office for an initial consultation either by phone or in person, if your issues need further clarification or if you need my assistance, please call 810-245-0813.