Accounting and Tax
How Far Back Can the IRS Audit? Understanding IRS Lookback Periods
If you are asking, “how far back can the IRS audit,” the general answer is three years, but the IRS audit lookback period can extend to six years or remain […]
Accounting and Tax
IRS Notice CP71C: What It Means for Your Tax Debt and Passport
IRS Notice CP71C is an annual reminder that you still have an unpaid balance on one of your federal tax accounts. The notice shows that tax debt remains and explains […]
Accounting and Tax
Does the IRS Send Certified Letters? What IRS Certified Mail Means
Does the IRS send certified letters? Yes, the Internal Revenue Service uses certified or registered mail for certain legally important notices, especially when tax law calls for documented mailing or […]
Accounting and Tax
If You Owe IRS, Can You Buy a House? Tax Debt, Liens & Mortgages
“If you owe IRS, can you buy a house?” is a common question, and yes, owing the IRS does not automatically stop you from buying a home. You may still […]
Accounting and Tax
Can the IRS Take Your Car? How IRS Vehicle Seizure Works
Can the IRS take your car? Yes, the Internal Revenue Service can seize and sell a vehicle when you owe federal tax debt and the legal levy rules are met. […]
Accounting and Tax
Lien Subordination: How to Move an IRS Tax Lien Behind a New Loan
Lien subordination allows another creditor to move ahead of an IRS federal tax lien in priority without removing the IRS lien from the property. This can help a taxpayer refinance […]
Accounting and Tax
Trust Fund Recovery Penalty: When You Can Be Personally Liable
The trust fund recovery penalty can make a business owner, officer, manager, or other responsible person personally liable for certain unpaid trust fund taxes. The IRS can assess this civil […]
Accounting and Tax
Form 13711: How to Appeal a Rejected Offer in Compromise
Form 13711 is the IRS form used to request an appeal after the Internal Revenue Service rejects an Offer in Compromise. You generally have 30 days from the date on […]
Accounting and Tax
IRS Automated Collection System: When ACS Handles Your Tax Debt
The IRS Automated Collection System is a centralized collection operation that handles unpaid tax accounts through notices, phone contacts, and system-generated collection actions. The Automated Collection System, commonly referred to […]
Accounting and Tax
IRS Revenue Officer: What to Expect When One Is Assigned to Your Case
An IRS Revenue Officer is a civil enforcement employee who works cases involving delinquent taxes and unfiled tax returns. If one is assigned to you, an IRS employee can review […]