Tag Archives: IRS Tax Problems

Gift Tax Returns More Likely to be Subject to IRS Audits

Posted on 03/14/2013 by Sandy Suchoff

The Internal Revenue Service is likely to step up audits of gift tax returns, it may appear. Fewer estate tax returns are being filed because of the increased estate tax exemption, so the agency has more staff and resources to … Continue reading →

Posted in IRS Compliance | Tagged , , , | Comments Off on Gift Tax Returns More Likely to be Subject to IRS Audits

Charity Scrutiny & Potential IRS Audits Forthcoming

Posted on 03/07/2013 by Sandy Suchoff

Tax-exempt groups will face extra audit heat from IRS on several fronts:  Organizations offering aid on mortgage foreclosures. Examiners will check whether these groups are helping people or just generating income for their owners. A similar project involving credit counseling … Continue reading →

Posted in IRS Tax Audit | Tagged , , , , , | Comments Off on Charity Scrutiny & Potential IRS Audits Forthcoming

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 →

Posted in Tax Changes | Tagged , , , | Comments Off on IRS Expands Eligibility for Worker Reclassification Program

IRS Practice and Procedure Change: Penalties

Posted on 02/28/2013 by Sandy Suchoff

In 2012, the IRS continued to pursue penalties to deter noncompliance. Since 2005, accuracy-related penalties assessed against individual taxpayers have increased 757%. In 2013, the IRS will continue to press for accuracy-related penalties in CP2000 under-reporter adjustments and audits. For … Continue reading →

Posted in Tax Penalties | Tagged , , , , | Comments Off on IRS Practice and Procedure Change: Penalties

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 →

Posted in Tax Changes | Tagged , , , | Comments Off on IRS Practice and Procedure Change: Identity Theft

IRS Practice and Procedure Change: Voluntary Compliance Programs

Posted on 02/21/2013 by Sandy Suchoff

On Jan. 9, 2012, the IRS provided another opportunity for taxpayers to disclose previously unreported offshore accounts: the 2012 Offshore Voluntary Disclosure Program (OVDP). OVDP is the third voluntary foreign bank account reporting (FBAR) program from the IRS in four … Continue reading →

Posted in IRS Compliance | Tagged , , , | Comments Off on IRS Practice and Procedure Change: Voluntary Compliance Programs

IRS Practice and Procedure Change: Collection

Posted on 02/14/2013 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 the … Continue reading →

Posted in IRS Collections | Tagged , , , | Comments Off on IRS Practice and Procedure Change: Collection

IRS Practice and Procedure Change: Examinations

Posted on 02/07/2013 by Sandy Suchoff

In 2012, the IRS continued to focus on correspondence (mail) examinations, which contributed to an overall audit coverage rate of slightly more than 1% for individual taxpayers. This rate dropped slightly in 2012 due to a reduction in examination personnel. … Continue reading →

Posted in IRS Tax Audit | Tagged , , , , | Comments Off on IRS Practice and Procedure Change: Examinations

Employment Taxes and the Trust Fund Recovery Penalty (TFRP)

Posted on 01/29/2013 by Sandy Suchoff

    At Lefstein-Suchoff CPA & Associates, we are committed to providing useful information that helps those faced with a situation requiring tax help for: tax settlements, tax debt, back taxes, IRS tax debt, an IRS levy, IRS tax audits, … Continue reading →

Posted in Tax Penalties | Tagged , , , , , | Comments Off on Employment Taxes and the Trust Fund Recovery Penalty (TFRP)

IRS Notice of Levy

Posted on 01/24/2013 by Sandy Suchoff

If taxes are not paid timely, and the IRS is not notified why the taxes cannot be paid, the law requires that enforcement action be taken, and this may often involve the IRS issuing a Notice of Levy. This notice … Continue reading →

Posted in IRS Levy, Tax Levy | Tagged , , , | Comments Off on IRS Notice of Levy