AFS Blog
HOW TO TELL IF YOU ARE PAYING TOO MUCH FOR IRS TAX PROBLEM HELP
So, you are getting IRS letters and have decided to get some help. You want to make sure that you actually owe the debt and you don’t make a mistake in dealing with the IRS that makes the problem worse. Tax problem firms often ask for thousands of dollars up... read moreLARGE RETAINER FEES FOR HELP WITH IRS PROBLEMS CAN JUST MAKE THINGS WORSE
Last week we discussed how one taxpayer ended up paying a retainer fee that was almost as large as the tax she owed and her case has not yet been settled. She will likely end up making payments to the IRS and also making payments to the firm that said they would help... read moreDON’T MAKE YOUR IRS PROBLEMS WORSE BY PAYING LARGE RETAINER FEES
Getting an IRS letter is always a scary thing. Though the worse case consequences of IRS debt are real and can include such things as garnishment of wages or confiscation of property, being subject to such action can be a long process. Unless you are already in... read moreANOTHER PFISHING SCAM TO BE AWARE OF
The IRS has alerted the public to another pfishing scam making the rounds. In this one, the taxpayer is mailed an official looking form to fill out, but that form has been altered so as to collect valuable information for identity theft, such as passport number,... read moreTHE NEW POSTCARD SIZE TAX FORM-ITS NOT THAT SIMPLE
Well they promised a postcard sized tax form and they delivered but it may result in a bit of confusion. A draft form leaked to the NYT shows that a number of above-the-line deductions are no longer on the form. I don’t see educator expenses, health savings... read moreBeware of Another Phone Scam From Fake IRS Agents
The IRS sent out a warning last week regarding another phone scam where the fraudsters are now using phone numbers that mimic IRS Taxpayer Assistance Centers while demanding payment on nonexistent tax bills. Yes, even after tax season, they are still at it. In the... read moreFiling an extension for your taxes
Many are concerned that filing an extension can cause a red flag or increase chances of an audit. That is simply not true. Extensions are used all of the time by families, individuals and businesses. If the gathering of your paperwork is rushed or if you really... read moreTAX IMPLICATIONS OF BITCOIN EXCHANGE TRANSACTIONS
Virtual currencies (synonymous with the term Bitcoin) can be used to make electronic purchases of physical items or digitally traded or exchanged into dollars, Euros, and other real or virtual currencies. Peer-to-peer and retail transactions occur electronically... read moreJust Great! IRS says that you can’t rely on IRS instructions
So, you would think that if the IRS provided instructions, you could rely on them when filling out your tax return. I think that is only common sense. However, that is not the case. In what to me seems to be a classic case of lack of accountability, the only... read moreIRS Can Use Credit Card Data From 1099-K’s to do more Tax Audits
The IRS is likely to be auditing more tax returns when a discrepancy is seen between payments reported on Form 1099-K and the income reported on tax returns. If you are in business, and you take credit cards for payment, you are likely receiving a 1099-K at the end of... read moreLet's Talk
If you're an individual, a family or a small business, we can help you with all your tax needs. Contact us today to see how we can help.