VIRUS EMPLOYER TAX CREDITS FORM

Virus employer tax credits form. The IRS issued a new form and instructions,  irs.gov/pub/irs-pdf/i7200.pdf  for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus pandemic. Employers may file new Form 7200. Advance Payment of Employer Credits Due to Covid 19, to obtain advances […]

IRS INCREASES VISITS TO HIGH EARNERS

IRS increases visits to high earners. Over the last 32 years we have seen the pendulum of the IRS Collection Division swing from being aggressive to being passive, depending upon what the broader economy was doing. When times are tough the IRS usually backs off of collection, when times are good, they put the foot […]

TAX BREAKS THAT ARE GONE FOR GOOD

Tax breaks that are gone for good. For most Americans, filing their tax returns for the 2018 tax year is just a distant and unpleasant memory. Yet even though the vast majority of taxpayers got their returns filed by mid-April deadline nearly six months ago, a few had hoped that Congress might get around to […]

IRS TAXPAYER BILL OF RIGHTS

IRS taxpayers bill of rights. The original IRS taxpayer bill of rights, passed during President Clinton’s time in office, was due to media reports about abuse at the IRS. Some of those reports were true, some were exaggerated. But due to the complaints, the President and Congress passed legislation that made a process available to […]