Jim Payne's Tax Blog in Gainesville, FL

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RECENT BLOG POSTS
The IRS does abate penalties provided you can prove reasonable cause. Establishing reasonable cause is very much a hit-or-miss proposition. However, there is a more effortless penalty abatement procedure if you can qualify.First Time Abate or FTA will automatically remove the Failure to File, Fai...
11/15/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.Here is the scenario. You filed your 1040 on February 1 in the hopes of getting your refund fast. Three weeks later you receive a 1099 in the mail that was not included on your return. Worse, it was for...
11/01/2022
Rumors are leaking out in the tax representation community that the IRS is finally going to do something about answering their phone. They have a pilot program running with the Practitioner Priority Service phone number that requires the caller to repeat a phrase before being placed on hold. The ...
10/25/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.It’s a natural tendency to want to avoid dealing with an unpleasant task such as an IRS debt problem. After all, the IRS is not particularly speedy in most of the things they do, so ignoring them, in th...
10/25/2022
Economic Hardship is a kind of get-out-of-jail-free card when it comes to dealing with IRS Collections Division. It can be used to get a levy released or an Offer-in-Compromise accepted if the financial analysis showed the result would place the taxpayer in an economic hardship  So, just what is ...
10/11/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.A retired couple decides to liquidate some of their stock investments because they are no longer able to handle the ups and downs of the market. This action puts them into a strong and safe cash positio...
10/04/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.The IRS does have the power to have the State Department revoke your passport for owing back taxes is YES. Recently the Fifth Circuit upheld the constitutionality of the government restricting internati...
09/27/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.Cash flow is in the toilet, and you are past due on prior quarters' payroll tax liabilities. You can barely cover the next payroll check run. What to do? My number one rule for having a better life is “...
09/20/2022
I represent taxpayers in Gainesville and the state of Florida who has tax issues with the IRS.Companies that fail to make their payroll tax deposits will eventually be faced with dealing with IRS Collections. One of the tools that the IRS has in its arsenal is the Trust Fund Recovery Penalty whic...
09/13/2022
I represent taxpayers in Gainesville and the state of Florida who have tax issues with the IRS.The IRS recently released their Data Book for 10/1/19 – 9/30/20. This publication is a compilation of various statistics for the fiscal year ended 9/30/20. You can find some interesting information that...
09/06/2022
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Jim Payne, CPA

CPA firm practicing in the area of IRS Collections
smartphone(352) 317-5692
local_phone(352) 376-9401
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