Challenge to IRS Notice of Deficiency for Unreported Rental Property Sale The IRS issued a Notice of Deficiency asserting that the taxpayer failed to report the sale of two rental properties and proposed increasing taxable income by $555,000 as ordinary income, resulting in an additional tax assessment of $190,737.19, plus failure-to-file and subst...
Successfully Defended NRP Audit Client owned six businesses, including several auto shops and an ambulance dealership. Client was randomly audited for the 2021 tax year under the National Research Program. NRP audits are random audits solely made for the IRS benefit, to: (1) "enable the IRS to gather strategic information about taxpayer compliance ...
Facilitated Nearly $2.3 Million IRS Refund The taxpayer filed a claim for refund caused by carrying back substantial 2020 losses to 2015 under the CARES Act (part of the Covid relief), which allowed taxpayers to carry back net operating losses (NOL) for 2018 through 2020, for up to five years. A year passed after the taxpayer filed his tax refund c...
Successfully Lifted IRS Bank Levy for Corporate Client Our firm represented a corporate taxpayer with more than $550,000 in outstanding federal payroll tax liabilities (Form 941), including penalties and interest. After the IRS issued a bank levy, the client faced an immediate inability to meet payroll and pay essential operating expenses. We inter...
Successfully Lifted IRS Bank Levy for Religious Organization Client. Our firm represented areligious organization with more than $310,000 in outstanding federal payroll tax liabilities(Form 941), including penalties and interest. After the IRS issued a bank levy, the client facedan immediate inability to meet payroll and pay essential operating exp...
Successfully Lifted IRS Bank Levy on Individual's Wages. Our firm represented an individualwith about $165,000 in outstanding federal income tax liabilities (Form 1040), includingpenalties and interest. After the IRS issued a wage levy, nearly 70% of the client's wages werebeing garnished by the IRS. We intervened promptly and negotiated a release ...
