Getting a letter from the Internal Revenue Service is certainly one that drives fear down your spine. You should not panic as not all notices completely victimize you.  If you receive the Letter 6174-A, it just implies that the IRS believes you may have faltered in your taxes because you didn't report cryptocurrency transactions accurately. [...]

The IRS constantly makes announcements to create awareness and put fear into the American taxpayer. The IRS has launched over 59 campaigns to date.  Recently, the IRS announced a slate of six compliance “campaigns” from its Large Business and International (LB&I) Division, which makes it seem like they are hitting just enterprises and companies offshore. [...]

If you have already filed your taxes for this year, you do not need to panic as none of the following applies to your tax return. But if you have not filed your taxes for this year, you still have time to make sure you minimize your chances to be chosen for an audit by [...]

IRS Notice CP05 The purpose of IRS Notice CP07 is to let taxpayers know that their tax refund is being held until the IRS can complete a more thorough review of the benefits claimed under a treaty and/or deductions claimed on the taxpayer’s Schedule A. This usually happens after the IRS has received your tax [...]

Letter 2257C means “Balance Due Total to Taxpayer”. This letters 2257C are responses to your oral or written request for a pay-off amount for any balance due you have to the IRS. The total amount reflected in your letter is how much the IRS is seeking so that you can close out your tax debt [...]

IRS Notice CP523 Installment Agreements IRS letter 0757C informs taxpayers that their installment privilege (agreements) has been terminated. Installment agreements are used to repay taxes owed to the IRS. United States Taxpayers who fail to file a tax return or fail to pay taxes by the deadline are subject, by law, to penalties assessed by [...]

CP2566 Understand the IRS Notice Letter CP2566 The IRS Notice CP2566 is to inform taxpayers that the IRS still has not received the Form 1040. This means that they must file a tax return. The IRS had to calculate your tax, penalty and interest based on wages and other income reported to us by employers, [...]

CP2005 Will a CP2005 Delay My Refund? No, your tax refund will not be delayed as the CP2005 is only a notice, notifying you that the information reported by a third party doesn’t match your tax return. A CP2005 notice from the IRS is only a notice and proposal to adjust your income, payments, credits, [...]

Can the IRS Collect the Shared Responsibility Payment?IRS Notice CP71H – Annual Balance due Reminder Notice is an annual statement of an account with an unpaid balance due to a Shared Responsibility Payment. You need to make arrangements for payment. This is an annual reminder of the shared responsibility payment for tax year 2016. This [...]

IRS Notice CP71DA CP71D notice is a letter the IRS sends to a taxpayer to let them know there is a tax balance that needs to be paid. It is crucial to take action and set up payment plans or have the amount reduced because the IRS will file a lawsuit against you if you [...]