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Welcome to The Tax Man, Tax Relief Podcast that helps guide you through the process of resolving your tax debt, taking overall communication with the IRS or the state and finding the best possible outcome for your situation, with your host, CPA, Jonathan Donenfeld.
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Do you owe back taxes to the IRS or your state government or have unfiled tax returns? Then this is the podcast for you! Every Monday, Wednesday, and Friday, Logan Allec, CPA — owner of A+ BBB-accredited tax resolution firm Choice Tax Relief — explains exactly how to get tax relief for your back tax debt. Would you like a FREE tax relief consultation with Logan's company, Choice Tax Relief? Schedule your consultation now by calling 866-8000-TAX!
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When someone approaches me with a back tax problem, we follow a simple three-step approach to find a resolution. The initial step, which I like to call 'stop the bleeding,' involves assessing their accounts, determining what filings are necessary, and quantifying the amount owed. Once we have a clear understanding of the situation, we move on to th…
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The IRS is sending out CP504 Notices like crazy right now — including to those who thought they were in currently not collectible (CNC) status. The CP504 is a threatening notice and not one that should be ignored, but what about if the IRS's 10-year time limit to collect your tax debt is about to expire? In this episode, I explain to a viewer how I…
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Many individuals I come across often feel scared and embarrassed about their tax problems, but let me assure you that you are not alone. Countless people experience issues with the IRS. There are various reasons why these problems arise, such as family circumstances, medical emergencies, divorce, business setbacks, or even receiving poor advice or …
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If you can't afford your tax bill, you NEED to watch this video. Although I go more in depth on topics I touch on in this episode, this episode gives you a high-level overview of how to approach a situation in which you can't afford to pay your tax bill. Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.c…
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Hello, I'm Jonathan Donenfeld, the President of JLD Tax Resolution Group. I started my own business in 2015 with a focus on helping other small business owners resolve their tax problems. As a business owner myself, I understand the struggles and the overwhelming nature of dealing with the IRS. Many business owners lose sleep, worrying about the IR…
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IRS Commissioner Danny Werfel has announced his ambitious plan to increase the IRS's workforce to over 100,000 people over the next three years. This means more levies, more garnishments, more special agents, more revenue officers, and more grief for the poor American taxpayer who finds him- or herself in the sights of the IRS. If you have unfiled …
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Do you know that the IRS is primarily hiring individuals for three key positions? Firstly, they're bringing in people to conduct audits on partnerships. Secondly, they're hiring auditors for s-corp businesses. Lastly, they're also recruiting revenue officers who will focus on pursuing individuals and companies with unpaid taxes. In order to enhance…
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Handling an audit and responding to the IRS are crucial steps that require attention. Typically, the IRS will provide you with a list of requested items and the scope of the audit. It is essential to carefully assess what you have and determine what is accurate, incorrect, or improperly filed. Based on this evaluation, you can craft your response a…
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Today, the Consumer Financial Protection Bureau (CFPB) announced that it is banning excessive credit card late fees, lowering the typical fee from $32 to $8. The rule that the CFPB finalized today will close a 2010 loophole exploited by credit card companies to charge consumers as much as $41 for a single late fee. This CFPB rule, however, is expec…
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Have you heard of the Partial Pay Agreement? It's a little-known yet fantastic way to save a ton of money with the IRS. We refer to it as the back door Offer in Compromise. The great thing about it is that it's much easier to get accepted and involves way less paperwork. Plus, it takes into account your assets to a lesser extent, making it a truly …
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The IRS recently announced in Bulletin IR-2024-56 that it is launching a new effort aimed at non-filers. As a part of this effort, 125,000 new non-filer cases will be opened. The IRS Commissioner said targeting non-filers will be a priority for the IRS. Learn more about what this means for you in this episode. If you have unfiled tax returns or owe…
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Can you get a passport if you owe taxes? Can you renew your passport if you owe taxes? Find out in this latest episode from Choice Tax Relief's founder, Logan Allec, CPA! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ ⬇️ Free E-Book: - 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know…
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Why is the Partial Pay Agreement with the IRS referred to as the 'back door' Offer In Compromise? The reason behind this is simple - it has proven incredibly effective in allowing you to settle your tax liability for less than you owe. Unlike the offer In compromise - a partial pay agreement is relatively easier to have accepted. It saves you time …
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Have you recently received a letter from the IRS regarding a proposed adjustment of your income? Wondering how to handle it? It's important to demonstrate the accurate cost basis for your stock or crypto purchases. The best approach is to submit an amended return through the appropriate channels. Even if you don't owe the tax, failing to address th…
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Who is required to file a tax return? Does everybody who makes money have to file a tax return? If you make less than $10,000 do you have to file taxes? I answer these questions and give you the rules in this episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ ⬇️ Free E-Book: - 7 Secrets About…
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The IRS Collections Department has been on something of a break for the past couple years, but they're back in full force! And they recently announced that they will be playing some games when it comes to sending out the CP500 Series collections notices, but don't fall for it! They want to collect as much money from you as possible, and that's the …
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Many lawyers work for themselves, especially if they are a partner or own their own firm, and their income can vary greatly. Like many other self-employed individuals, they often struggle to withhold enough money for taxes. Issues also arise when lawyers want to maintain a certain image and lifestyle, resulting in high personal expenses and falling…
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If the IRS forgives your tax debt, is that considered TAXABLE INCOME under the tax code, thereby giving rise to MORE TAX LIABILITY? Do you really have to pay MORE taxes if the IRS settles your tax debt for less than you owe through an offer in compromise? In this episode, I answer these questions, showing you what the IRS says about this issue...an…
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If you're upside down on your car — meaning that you owe more on the car than it's worth — you may be wondering how that affects your offer in compromise or other IRS tax resolution options. The answer is fairly simple, and I get into it in this episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.c…
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So you've received IRS Notice CP523 stating that the IRS intends to TERMINATE your installment agreement...what does this mean...can the IRS levy you immediately if you don't meet the deadline in the notice? I get into all of it in this episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ ⬇️ Fr…
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It has been a little over a year since the Senate approved IRS funding of $45.6 billion for enforcement. And what we have noticed is that the IRS has made hiring more higher-level professionals a top priority. It seems like they are determined to recruit additional accountants, lawyers, and experts with advanced knowledge. This will enable them to …
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Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ If you've received the Letter LT38 from the IRS in the mail, you might be wondering what it is and what to do about it. The LT38 Letter is the IRS's Reminder of Notice Resumption. Learn more about the LT38 Letter and what to do if you receive a LT38 L…
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Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ In order to qualify for an IRS offer in compromise, you'll likely have to prove to the offer examiner or offer specialist that you have very little net monthly disposable income. This is very difficult (if not impossible) to do if you aren't actually …
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The IRS is targeting many self-employed individuals who earn six figures or more. It's interesting to note that we're witnessing an increase in audits for small business owners who file Schedule C and fall into the same income bracket. Among those being audited by the country’s tax bureau are professionals like doctors, lawyers, real estate brokers…
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Call 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ The IRS has a 10-year time limit to collect tax debt called the IRS Statute of Limitations on Collections. Does contacting the IRS about an old tax debt reset this 10-year time limit? Find out and learn more in this episode! Watch All My Tax Relief Videos (Playlist): • Playlist …
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If you need help with your back tax returns, email backtaxes@loganallec.com TODAY! Or book a FREE unfiled tax returns consultation at https://calendly.com/choice-tax-relie... If you haven't filed tax returns in a few — or several — years, chances are you may have to paper file some tax years. (After all, e-filing is only allowed for the last three …
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If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ Today's question comes from a self-employed taxpayer and new mom who was hospitalized with cancer and couldn't keep up with her tax filings and payments. Will the IRS show this woman mercy? I answer this question in this episode along with som…
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If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ Today's question comes from a taxpayer who owes the IRS approximately $80,000. He's looking to get into an installment agreement with the IRS while avoiding the filing of a notice of federal tax lien as well as any limitations on his passport.…
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If you owe back tax debt, call us now at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ So you filed an amended return, and it's still sitting on some desk at the IRS right now, waiting to be processed. Now it comes time to file your next year's tax return. Can you still file this next year's tax return now? Or do you have to wai…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... If you have an installment agreement with the IRS on your back tax debt, you may be wondering what happens if you file a tax return next year and owe more taxes that you can't pay. In this episode, I answer this exact question.…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... Many Americans, caught in the crypto bull run of 2021, liquidated assets in their retirement accounts such as 401(k)s and IRAs and took distributions from them that resulted in a large tax liability and in some cases significant early withdr…
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Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation! Do you have a spouse who owes back taxes from before you were married? If so, this episode is for you. I answer one taxpayer's questions about what they should do in this very situation and touch on a variety of aspects of tax relief, from…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... Many college students — especially those that attend later in life — who have racked up significant tax debt before going to school think that they will be a great candidate for an offer in compromise since they don't make a lot of money whi…
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Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation! If you've received the CP71A Notice from the IRS in the mail, you might be wondering what it is and what to do about it. The CP71A Notice is the IRS Annual Reminder Notice to Taxpayers With Balance Due Modules That Are in Currently Not Col…
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If you need help with your back tax returns, email backtaxes@loganallec.com TODAY! Or book a FREE unfiled tax returns consultation at https://calendly.com/choice-tax-relie... If you have unfiled taxes for several years, you may be feeling helpless and at a loss about what to do. Well, I'm here to tell you not to worry. If you come clean with the IR…
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Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation! If you've received the CP71C Notice from the IRS in the mail, you might be wondering what it is and what to do about it. The CP71C Notice is the IRS Annual Reminder Notice to Taxpayers With Balance Due Modules That Are in Status 24 With a …
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Today, the IRS issued Notice 2024-7, announcing a MASSIVE penalty forgiveness program for certain taxpayers who got behind on their taxes during the pandemic. In this video, Logan Allec, CPA, tells you everything you need to know! Book your FREE tax relief consultation at https://choicetaxrelief.com/free-cons... or by calling 866-8000-TAX! ➡️ My Ta…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... Should an older taxpayer keep paying the IRS in their installment agreement, especially if the payment is quite large and affects their ability to pay basic and necessary living expenses? I share my thoughts on this matter in this episode! ⬇…
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If you need to file taxes from previous years, book a free consultation at https://calendly.com/choice-tax-relie... If you have taxes from previous years that you need to file, you're probably wondering if you can file these tax returns out of order. This could be for various reasons, such as you currently only have the data for some of the tax yea…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... How does the IRS know where you bank? Although we don't know all their methods of finding out taxpayers' bank account information, the IRS has pretty awesome power at its disposal when it wants to find out your banking information. ⬇️ Free E…
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If you owe back tax debt, book a FREE tax relief consultation here: https://calendly.com/choice-tax-relie... If you have equity in your home, you may be wondering if having this equity will prevent an offer in compromise from being successful. The answer is more complicated than you may think, and I answer it in this episode, including an example o…
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Call 866-8000-TAX or visit https://choicetaxrelief.com/free-cons... to book your FREE tax relief consultation! If you've received the CP2000 Notice from the IRS in the mail, you might be wondering what it is and what to do about it. The CP2000 Notice is the IRS' Notice of Underreported Income. The IRS sends it when you forgot to include some income…
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Just TODAY (November 21, 2023), the IRS made a HUGE 1099-K announcement about the IRS $600 threshold! It is pushing off the changes to the reporting requirements for another YEAR! That's right, the new IRS $600 tax rule for Venmo & Cash App & PayPal that we thought was going to start in 2023 has now been pushed off for another year! More updates in…
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In this brief episode, I answer the question of whether the IRS will send a refund check on a previously paid penalty if you later get that penalty abated (i.e., forgiven). I talk about a recent case we handled for a client where we got over $11,000 of penalties (that they'd already paid) forgiven and show you the IRS Notice CP21B with the results.…
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According to a new federal report released earlier this week, the IRS is estimated to be receiving 30,000,000 more Forms 1099-K in 2024 than it has averaged in previous, thanks to the lower $600 reporting threshold imposed by the American Rescue Plan Act. In this episode, I go over this report, how to correctly report 1099-K information on your tax…
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