Who I've Helped This Week: Doyle CPA
Posted on August 23rd, 2011
Problem:
Our clients received an IRS notice that they owed around $20,000 in additional taxes. Initially the clients had requested assistance with an IRS 5 year payment plan.
Solution:
We evaluated the notice tax assessment and after correspondence with the IRS, we determined that only $1,000 of the $20,000 was actually due. As such no installment was necessary and balance was paid in full within a couple of months.
Moral of Story:
Most people look at an IRS assessment, notice, collection etc. as an unbeatable balance that is due. This simply is not true, as IRS notices often contain errors, miscalculations, or reporting too much income.
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