Why Did the IRS Select Me for a Tax Audit?

February 29, 2016

An IRS tax audit occurs when the agency wishes to double-check the numbers on your tax return to ensure there are no discrepancies. Audits are usually conducted to minimize the difference between what the IRS is owed versus what the IRS actually receives. While it is possible for you to randomly be flagged for an…
Read More

What is a Currently Not Collectible Status?

February 19, 2016

The IRS classifies taxpayers into various categories based on factors present in the individual’s circumstances, also referred to by the IRS as a “status”. A currently not collectible status, also commonly known as a hardship status or status 53, is used to describe a taxpayer who cannot afford to pay an outstanding tax liability. It…
Read More

Which Letters from the IRS Require Urgent Attention?

February 5, 2016

The IRS sends out many different types of collection letters to its taxpayers. While any letter you receive from the IRS should be taken very seriously—there are some letters that have more legal implications compared to others. Here are some letters that require your urgent attention and what they mean: Letter 531 – Notice of…
Read More