
MD Sullivan Blog
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Our blog discusses all known matters and recent developments related to the IRS. Read insightful articles on International Tax, Tax debt solutions, Tax on Cryptocurrency, and more. The MD Sullivan Group headed by former IRS Agent and instructor Michael D. Sullivan is a team of experienced tax professionals that provide tax relief services and debt solutions.
MD Sullivan Blog
1M ago
Mike Sullivan’s IRS Experience
Mike Sullivan, known for his extensive years of affiliation with the IRS, has solved over 10,000 cases in his lifetime. He worked with the Internal Revenue Service (IRS) for more than 10 years, which, in turn, gave him perfect knowledge of what the system looks like from the inside. This gave him an understanding of the system’s inner workings.
He believes, especially as a teaching instructor to current IRS agents, that the primary aim is to understand what the IRS feels and how they want to present a case. Looking at a bunch of case files to date, Mike Sullivan ..read more
MD Sullivan Blog
1M ago
Mike Sullivan’s first Hand IRS Experience Says It All!
If you have received a CP 3219A Notice and are wondering what to do, Mike Sullivan can be your go-to tax advisor. Mike is a former IRS retiree and has about ten years of experience. After retirement, he decided to help the taxpayers with first-hand tax knowledge.
You may be worried about the financial burden of the additional tax, or you may feel frustrated and confused about the IRS’s findings. Don’t worry, you are not alone. Mike will pull the curtains and show you the easiest way to solve your IRS Notice Of Deficiency in less than 90 da ..read more
MD Sullivan Blog
1M ago
Mike’s 10 years experience in the IRS saves you money!
Do you know you can protect your hard-earned income till the end with the right strategy? Yes, you heard that right. Mike knows the ropes to protect your income from IRS actions. His 10 years of experience as an IRS agent gives you the right knowledge to secure your financial stability.
Ever had that sinking feeling when money just disappeared from your paycheck or bank account? That’s wage garnishments and bank levies in action!
But, don’t worry when Mike is by your side. For over a decade, he has dealt with X+ cases of wage garnishments ..read more
MD Sullivan Blog
1M ago
Mike says, ‘‘Do not panic if you have tax returns piling up’’: Know why
Do you have years of unfiled tax returns? Then you’re certainly not the only one.
Countless taxpayers face the daunting task of catching up on multiple years of unfiled returns. Various reasons contribute to this backlog: personal crises, financial hardships, health issues, or simple oversight. In the hustle and bustle of modern life, where circumstances can change rapidly, falling behind on tax filings can happen to anyone.
The silver lining? Solutions are available, and resources abound to help individuals get back on tr ..read more
MD Sullivan Blog
2M ago
Taxes can sometimes feel like a puzzle, especially with all the rules and regulations to keep in mind. But here’s the thing: intentionally avoiding them can lead to big trouble. If you’ve ever wondered about the consequences of not paying taxes or making errors on your tax returns, you’re in the right place. In this guide, let’s discuss what could happen if someone gets caught evading taxes!
Is Tax Evasion Classified as a Federal Offense?
Yes, tax evasion is a federal offense in the United States. When people talk about tax evasion meaning, they refer to the act of not paying due taxes by usin ..read more
MD Sullivan Blog
2M ago
Are Payroll Tax and Income Tax Identical?
In the U.S. tax system, it’s crucial to distinguish between various types of taxes. Among them, two of the most common types that come up are payroll tax and income tax. At first glance, they may seem similar since they both involve deductions from your paycheck. However, they serve different purposes and are governed by separate rules. Let’s dive in and dissect these two.
How Do Payroll Tax and Income Tax Differ from Each Other?
First and foremost, understanding the difference between income and payroll tax is vital for both employees and employers. I ..read more
MD Sullivan Blog
2M ago
Receiving an audit notice from the IRS can be unsettling. But, knowing the potential repercussions can help you address the situation better. If discrepancies are found, and you owe more than what you reported, you’ll be responsible for the unpaid amount plus interest.
The IRS may assess penalties depending on the nature and severity of the errors. In extreme cases, where fraud is evident, you might wonder, “Can you go to jail for IRS audit?” The answer is yes, though rare. But, is that all? Of course not. There is more to IRS audits than just penalties. You need to know how to tackle situatio ..read more
MD Sullivan Blog
2M ago
Exploring the Time Limits: Statute of Limitations on IRS Collections
The statute of limitations on IRS collections is a law that limits the amount of time the IRS has to collect unpaid taxes. This means that after a certain amount of time, the IRS is usually prohibited from collecting the debt. However, there are some exceptions to this rule, and you’ll know them in detail in a while. Read ahead and find out all about the Statute of Limitations in one place!
What Constitutes the Statute of Limitations for the IRS?
The IRS has a rule called the “statute of limitations.” Think of it as a countdo ..read more
MD Sullivan Blog
5M ago
An IRS letter can send chills down the spine of any taxpayer. And if it’s an audit letter from IRS, then it can induce full-blown fear in people. However, there are times when you receive an IRS audit letter but they are not as intimidating as the others. Meaning, it can be a correspondence audit.
When dealing with IRS audit letters and the IRS themselves, it is best to learn the nook and cranny of how their system works to better understand their interests, penalties, and fines. Sometimes, when you believe that the IRS has made an error while assessing your tax obligations, you can go o ..read more
MD Sullivan Blog
5M ago
Let’s face the truth – hearing from the Internal Revenue service (IRS) is barely a happy moment, especially if it has audits. But, you also have one liberty! If you disagree with the results of the IRS, you have a benefit at your side. That is an Audit Reconsideration Request.
An Audit Reconsideration Request is a method which allows taxpayers to dispute the results of an IRS audit. It is a formal request usually a taxpayer makes to the IRS asking them to re-assess their audit findings. However, if you think that their audit is fine, but you need to pay a hefty bill, then you can explore some ..read more