Tax Matters - The Top Tax Defenders Blog

Nobody looks forward to receiving a notice from the IRS, especially one that says audit. However, of the three types of audits the agency performs, there is one you can almost be happy about — a correspondence audit.

Have you received IRS Letter 3172, Notice of Federal Tax Lien Filing and Your Right to a Hearing under IRC 6320? That means the IRS has determined you owe a tax debt, which you have neglected or failed to pay. Now they put a lien on your property so you can’t sell or refinance any of it until you pay up or make a deal.

The COVID-19 pandemic has pretty much turned the world upside down. In a surprising but welcome move, the IRS has moved Tax Day to July 15, 2020. But that isn’t the only difference COVID-19 makes to your 2020 taxes and tax activity.

Being furloughed or unemployed stinks in more ways than one. Add in the COVID-19 pandemic, and it descends to reeking. And on top of it all, you need to file taxes. Isn't that just the worst?

Unusual times call for unusual measures. The federal government passed a $2 trillion (that’s trillion with a “T”) relief act to mitigate the impact of SARS-CoV-2, the virus that causes COVID-19. 

2020 is gonna be different, folks. Unless you have been off the planet for the past couple of months, you know that a pandemic of coronavirus has disrupted almost everything, including the IRS. That means you get a little extra time to complete, file, and pay your taxes.

As a response to the disruption of COVID-19 precautions, the federal government issued an emergency declaration on March 13, instructing the Secretary of the Treasury to provide relief in the form of delayed tax deadlines.

The federal government loves to change the tax rules every year or so. Sometimes, it's in the taxpayers' favor. Some tax reform legislation provides for annual updates, so a new tax law remains in effect and creates changes automatically.

Yes, it’s that time again. Something called tax season, like it’s some sort of holiday.

Still, it is coming and, like every year before, we want to provide some tips to prepare for the 2020 tax season. Some of the advice will sound familiar, but it bears repeating. Some involves changes to the way the IRS and tax rules have evolved.

Telling people not to panic at the threat of an IRS audit is like telling a Kardashian to avoid self-promotion. It’s an impossible dream. Now the powers-that-be are saying the chances of an audit (even though they’re already pretty small) may increase in 2020.