kevin rego's (kevinrego) Blog

San Mateo, CA:IRS Payment Processing Delays: What Taxpayers Should KnowThe IRS has acknowledged a delay in processing some electronic tax payments, which may result in taxpayers receiving balance-due notices—even when payments were made on time. This issue primarily affects those who electronical...

San Mateo, CA:'Tis the season for IRS CP14 letters coming in the mail.I have noticed a marked uptick in the number of clients that are receiving CP 14's in the mail.  The CP14 is "IRS slang" for the first demand for payment after a tax return is filed with a balance due.  Note the "CP14" in the u...

San Mateo, CA:IRS Installment Agreements: How to handle more tax debt!I recently had a question from a client that comes in frequently:Question: What happens if you are on an IRS installment agreement (payment plan) and you incur more tax debt from a recently filed tax return?Answer:  Nothing goo...

San Mateo, CA:A "Double-Claimed" Dependent leads to a Double Audit for Parents.Navigating the complexities of tax law can be daunting, and the recent U.S. Tax Court case of Correll v. Commissioner (T.C. Memo 2025-31) serves as a crucial reminder of the importance of understanding dependency exemp...

San Mateo, CA:The IRS gets busy just like the rest of us.  They are especially busy now with many of the things affecting their organization coming from the current administration.  Politics aside, the IRS is still very much "in business".IRS NOTICE CP71CI have recently seen an uptick in the numb...

San Mateo, CA: IRS to Pursue Unreported Gambling Winnings: Potentially $1 Billion+ Income Tax RevenueA recent report by the Treasury Inspector General for Tax Administration (TIGTA) has revealed that the IRS may be missing out on substantial tax revenue due to unreported gambling winnings. This g...

San Mateo, CA:  It often happens to those that are newly married but can happen to any couple; debts owed by one spouse comes back to "haunt" the non-liable spouse who may not even know about these "skeletons".  It can really damage a relationship---but there is a solution. Understanding IRS Inju...

San Mateo, CA: When you submit an Offer in Compromise or a request for an installment agreement, the IRS wants to know your monthly income and expenses using financial disclosure forms.  The IRS wants to ensure that you are paying the most you can without causing a hardship.  This often leads to ...

San Mateo, CA:  It was stressful but you were able to work out a payment plan (know as an installment agreement) with the IRS.  Then comes an IRS Notice CP523--Intent to terminate your installment agreement along with a hefty bill. NOW WHAT DO YOU DO?Understanding the IRS Notice: Intent to Termi...

San Mateo, CA: The IRS initially sends taxpayers their unpaid "tax bills" on a Notice called a CP14.What’s Happening with IRS CP14 Notices?Recently, some taxpayers have been surprised to receive CP14 notices from the IRS. These notices indicate a balance due, despite the taxpayers having made the...