Tag Archives: File Tax Return

How Long the IRS Has to Collect Taxes

Posted on 04/11/2013 by Sandy Suchoff

  The IRS can attempt to collect your taxes up to 10 years from the date they were assessed.  However, there are exceptions to this time frame.  For example, by law, the IRS will suspend and extend collection while: The … Continue reading →

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What the IRS Wants Taxpayers To Know About Identity Theft and Taxes

Posted on 04/09/2013 by Sandy Suchoff

  Protecting taxpayers and their tax refunds from identity theft has become a top priority for the IRS. This year the IRS expanded its efforts to better protect taxpayers and help victims dealing with this difficult issue. When your personal … Continue reading →

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IRS Collections and IRS Installment Agreements

Posted on 04/04/2013 by Sandy Suchoff

  In 2012, the IRS instituted additional Fresh Start initiatives to help struggling taxpayers pay their taxes. As part of these initiatives, the IRS relaxed streamlined installment agreement rules for individuals by increasing the threshold from $25,000 to $50,000, and … Continue reading →

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IRS Audits of Independent Contractors

Posted on 03/28/2013 by Sandy Suchoff

  It is very important to make the proper decision about employee classification.  If an employee is incorrectly identified as an independent contractor you may be liable for the self-employment taxes that you should have paid plus penalties. If you … Continue reading →

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New 1099-K Forms may Lead to Enhanced IRS Collections

Posted on 03/19/2013 by Sandy Suchoff

What do you need to know about Form 1099-K? Form 1099-K is an information return that reports payment card and third party network transactions for the calendar year.  1099-K forms are giving IRS new collection leads. A memo to IRS … Continue reading →

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Voluntary IRS Correction Program can Help Avoid IRS Penalties

Posted on 03/12/2013 by Sandy Suchoff

IRS is expanding its voluntary correction program for retirement plans.  Sponsors of 403(b) plans can now participate. Under these procedures, employers that discover minor mistakes in their plans’ operations can report them to IRS, fix the errors and pay a … Continue reading →

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IRS Expands Eligibility for Worker Reclassification Program

Posted on 03/05/2013 by Sandy Suchoff

On Dec. 18, 2012 the IRS announced a revision to its voluntary classification settlement program (VCSP) that provides partial relief from federal employment taxes for eligible taxpayers who agree to prospectively treat workers as employees. The original program, established in … Continue reading →

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IRS Practice and Procedure Change: Identity Theft

Posted on 02/26/2013 by Sandy Suchoff

Tax identity theft continued to be a concern for the IRS in 2012. In the first 10 months of the year, the IRS identified 1.2 million incidents of tax identity theft. The IRS inventory of tax identity theft cases increased … Continue reading →

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IRS Practice and Procedure Change: IRS Matching Programs

Posted on 02/19/2013 by Sandy Suchoff

2012 was a breakthrough year for IRS automated matching programs. In 2012, it’s likely that the IRS exceeded the 4.7 million individual CP2000 (under-reporter) notices that it sent in 2011. In 2012, this was the only major IRS compliance program … Continue reading →

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IRS Enforced Collection Actions

Posted on 01/28/2013 by Sandy Suchoff

At Lefstein-Suchoff CPA & Associates, continues to provide useful information that helps those in need of tax help for: tax settlements, tax debt, back taxes, IRS tax debt, an IRS levy, IRS tax audits, Offer in Compromise, IRS tax lien, … Continue reading →

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