Tax News & Updates

Tax season can be a stressful time for many individuals and businesses alike. While most tax returns are processed without issue, there are certain factors that can raise red flags for the Internal Revenue Service (IRS), potentially leading to audits or further examination. Understanding these triggers can help taxpayers navigate the complexities of the tax…
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Communication between taxpayers and the Internal Revenue Service (IRS) is essential for maintaining compliance with tax laws and resolving any issues that may arise. One form of communication utilized by the IRS is known as “soft notices.” Soft notices are informational letters sent to taxpayers to alert them of potential issues with their tax returns,…
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Introduction Receiving a CP2000 Notice from the Internal Revenue Service (IRS) can be a stressful and worrisome experience for any taxpayer. It indicates discrepancies between the information reported on your tax return and data received from third-party sources. These discrepancies can lead to potential penalties, additional taxes, and the need for further correspondence with the…
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Receiving a CP2000 Notice from the Internal Revenue Service (IRS) can be a cause for concern for any taxpayer. This notice typically indicates discrepancies between the information reported on your tax return and data received from third-party sources. While the CP2000 Notice proposes adjustments to your tax return, taxpayers have the right to request reconsideration…
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Receiving a CP2000 Notice from the Internal Revenue Service (IRS) can be an unsettling experience for any taxpayer. This notice typically indicates discrepancies between the information reported on your tax return and data received from third-party sources. Understanding the purpose of the CP2000 Notice and knowing how to respond effectively is essential to navigate the…
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Receiving a CP2000 Notice from the Internal Revenue Service (IRS) can be a cause for concern for any taxpayer. This notice typically indicates discrepancies between the income reported on your tax return and the information provided by third-party sources, such as employers or financial institutions. Responding to a CP2000 Notice requires careful consideration and understanding…
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Receiving a CP2000 Notice from the Internal Revenue Service (IRS) can be alarming and stressful for any taxpayer. This notice alerts you that the IRS has identified discrepancies between the income reported on your tax return and the information reported by third-party sources, such as employers, banks, or financial institutions. Specifically, the CP2000 Notice of…
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Facing an IRS audit can be a daunting experience for any taxpayer. The process involves thorough examination and verification of your financial records to ensure compliance with tax laws. To alleviate some of the stress associated with audits and provide peace of mind to taxpayers, many companies offer audit assistance services as part of their…
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Dealing with the Internal Revenue Service (IRS) can be a daunting task, particularly when it involves resolving tax issues or disputes. Whether you’re awaiting a tax refund, responding to an audit, or navigating a payment plan, staying informed about the status of your IRS case is essential. Fortunately, the IRS provides several tools and resources…
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The tax code in the United States is intricate and often intimidating, leading many taxpayers to inadvertently incur penalties for non-compliance with IRS requirements. Fortunately, the IRS offers relief in the form of First-Time Penalty Abatement (FTA), providing eligible taxpayers with the opportunity to request the waiver of certain penalties for the first time they…
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