Tag Archives: Tax Problem Solutions

Compromise of Tax and Penalty

Posted on 04/30/2013 by Sandy Suchoff

Lefstein-Suchoff CPA & Associates, LLC has a proven track record of getting our Client’s Offers in Compromise accepted and thereby saving our clients thousands of dollars. If, on the other hand, we believe that filing an Offer in Compromise will … Continue reading →

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How to Designate Power of Attorney with the IRS

Posted on 04/29/2013 by Sandy Suchoff

  You have the right to represent yourself or have someone represent you before the IRS in connection with a federal tax matter.  At Lefstein-Suchoff CPA and Associates we represent many clients who face IRS problems.  Please read below for … Continue reading →

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IRS Examination of Return

Posted on 04/26/2013 by Sandy Suchoff

Have you been selected for an IRS Examination or Audit? Our blog can provide you with some information that may help in the process. The IRS examines a taxpayer’s books and records either at the place of business, or where … Continue reading →

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Federal Tax Lien: What is It?

Posted on 04/18/2013 by Sandy Suchoff

    A lien is a legal claim against all your current and future property.  When you don’t pay your first bill for taxes due, a lien is created by law and attaches to your property.  It applies to property … Continue reading →

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If You Don’t Pay on Time: Understanding Collection Actions

Posted on 04/16/2013 by Sandy Suchoff

  There are several words and phrases particular to the collection process.  Here, we’ve defined some of the most commonly used collection terms: Federal tax lien:  A legal claim against all your current and future property, such as a house … Continue reading →

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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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Offer In Compromise: Review

Posted on 04/02/2013 by Sandy Suchoff

The OIC program allows qualifying taxpayers to settle their tax liability in full for an amount less the full liability owed.  Recently, the IRS has changed some of its computational rules, which may make the program more accessible and attractive. … Continue reading →

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IRS has Another Swiss Bank to Find Unreported Foreign Accounts

Posted on 03/22/2013 by Sandy Suchoff

If you still haven’t reported taxable foreign account income to the IRS, the IRS offshore voluntary disclosure amnesty program might be your final chance.  If you fail to participate, you could be hit with stiffer fines and possible criminal charges. … Continue reading →

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