Is Debt Forgiveness from an IRS Offer in Compromise or Bankruptcy a Taxable Event?
Orange County Tax Attorney Blog
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3y ago
The post Is Debt Forgiveness from an IRS Offer in Compromise or Bankruptcy a Taxable Event? appeared first on Tax Attorney Newport Beach CA| Orange County| DWL Tax Law - Daniel Layton ..read more
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Gaming Issues: Frame (FPS) Drops in Certain Games in Yoga 730 15 2-in-1 Touch Screen Laptop
Orange County Tax Attorney Blog
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3y ago
The post Gaming Issues: Frame (FPS) Drops in Certain Games in Yoga 730 15 2-in-1 Touch Screen Laptop appeared first on Tax Attorney Orange County| Newport Beach, CA| DWL Tax Law ..read more
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Choosing the Best Laptop for a Small Firm: CPU Guide
Orange County Tax Attorney Blog
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3y ago
The post Choosing the Best Laptop for a Small Firm: CPU Guide appeared first on Tax Attorney Orange County| Newport Beach, CA| DWL Tax Law ..read more
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Choosing the Best Laptop for a Small Law Firm
Orange County Tax Attorney Blog
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3y ago
The post Choosing the Best Laptop for a Small Law Firm appeared first on Tax Attorney Orange County| Newport Beach, CA| DWL Tax Law ..read more
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IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts
Orange County Tax Attorney Blog
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3y ago
In a press release last updated November 4, 2020, the IRS made the following statement: WASHINGTON — The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because of the pandemic, expanding taxpayer options for making payments and alternatives to resolve balances owed. “The IRS understands that many taxpayers face challenges, and we’re working hard t ..read more
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DWL Tax Law’s New FAQ’s – July 2020 Edition
Orange County Tax Attorney Blog
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3y ago
Will the US Tax Court Stay Proceedings If There Is a Potential Criminal Case Pending? If there is a legitimate fear that a criminal case could be impacted by ongoing civil proceedings, many courts, including the United States Tax Court, may stay the civil case, at least temporarily. Click here for more… Doctor, Doctor, Give Me the News: Handling IRS Summonses for HIPAA Medical Records. Although doctors, dentists, and others in the medical profession are familiar with the requirements of HIPAA, some IRS Revenue Officers and Revenue Agents are not well-versed in the privacy protections of the ac ..read more
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CSED – IRS Collection Statute Expiration Date
Orange County Tax Attorney Blog
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4y ago
Understanding the IRS CSED – IRS Collection Statute Expiration Date. What is CSED? CSED is the IRS acronym for Collection Statute Expiration Date as it appears in many IRS internal computer transcripts of taxpayer accounts, which tells the IRS collections officer what the IRS system has computed as the statutory expiration date for collection of the tax. Although the computer’s CSED date is sometimes inaccurate, it is still generally relied on by IRS employees in practice. Almost any time the IRS is prevented from collecting by law, time is added to extend the IRS’s statute of limitations per ..read more
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What You Need to Know About IRS Corona Virus Relief (03-31-2020)
Orange County Tax Attorney Blog
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4y ago
What You Need to Know About IRS Corona Virus Relief (03-31-2020) The various news releases for IRS Corona Virus relief, as they are updated, from the IRS can be found at https://irs.gov/coronavirus. Among those are the tax return extension and tax payment extension deadlines to July 15, 2020, for 2019 returns. A list of the IRS corona virus releases to date can be briefly summaries as follows (in order of most generally applicable first): IR-2020-58 – Tax Day is now July 15: Treasury and the IRS have extend filing deadline and federal tax payments for 2019 individual and corporate retu ..read more
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Corona Virus Economic Impact Payment: How Do You Get It, When Is it Coming, and Where Is It?
Orange County Tax Attorney Blog
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4y ago
The Corona Virus (Covid-19) economic impact payments: What you need to know The IRS has issued the following press release (as of 3/31/2010 still up but check https://irs.gov/coronavirus for any update) about what you need to know about the corona virus economic impact payments: Check IRS.gov for the latest information: No action needed by most people at this time IR-2020-61, March 30, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed aut ..read more
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IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19 Corona Virus
Orange County Tax Attorney Blog
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4y ago
IRS: Employee Retention Credit available for many businesses financially impacted by COVID-19 Corona Virus The IRS has issued the following press release: IR-2020-62, March 31, 2020 WASHINGTON — The Treasury Department and the Internal Revenue Service today launched the Employee Retention Credit, designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19. Does my business qualify to receive the Employee Retention Credit? The c ..read more
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