On January 25 we reported that the IRS had 11.6 million returns from prior years that it had not processed going into the 2022 tax season. It now appears the IRS may have had a … [Read more...] about IRS Crisis Is Worse than Previously Reported
IRS Tax Planning Ideas, Tips & News
Refinancing Considerations
Should you refinance? What if you owe the IRS tax debt? What is a Refinance (Refi)? When you refinance your home, you are getting a new mortgage to pay off your existing mortgage. Why … [Read more...] about Refinancing Considerations
Cryptocurrency Tax Reporting Reminder
As more individuals invest in cryptocurrencies (digital asset market exceeded $2 trillion in 2021), it is important to remember that trading and paying for goods in these currencies is a taxable … [Read more...] about Cryptocurrency Tax Reporting Reminder
IRS Is In Crisis Mode
This comes as no surprise to taxpayers and tax professionals. Now the IRS's Internal Watchdog has issued a warning. It likely is going to get worse! Who Is the IRS Watchdog? The Taxpayer … [Read more...] about IRS Is In Crisis Mode
Retirement Planning – Health Savings Account (HSA)
Kiplinger published on January 5 an article by Kevin Webb, CFP, about using HSA accounts to fund retirement. Déjà vu: Our July 5, 2016 Blog Discussed this Strategy. When financial advisors … [Read more...] about Retirement Planning – Health Savings Account (HSA)
Taxpayer Options When You Owe the IRS & Receive Notice of Intent to Levy
Once the IRS makes an assessment against a taxpayer, it is required to send a series of notices to the taxpayer before it takes enforced collection action. Substitute for Return When a … [Read more...] about Taxpayer Options When You Owe the IRS & Receive Notice of Intent to Levy
