kevin rego's (kevinrego) Blog

San Mateo, CA: A somewhat controversial tax credit, the Employee Retention Credit (ERC), was put on a "timeout" today by the IRS.  No new ERC claims will be processed from now until the end of the year .I previously blogged an article on ERC fraud and the potential that employers were being "dupe...

SAN MATEO, CA:  Navigating IRS Issues: Offer in Compromise (Doubt as to Liability) vs. Audit ReconsiderationDealing with IRS problems can be daunting. Knowing your options and the IRS processes are key to a successful outcome.Two standout methods for resolving tax disputes are: Offer in Compromis...

San Mateo, CA: Are you aware of the potential consequences if you fail to file your federal tax return by the due date or extension date? You should be aware of the potential consequences if you fail to file your federal tax return by the due date or extension date.  From their latest estimate,  ...

San Mateo, CA: The information source where you get your tax advice may be critical when dealing with the IRS.A recent US Tax Court case, McNamara, TC Summary Opinion 2023-22, announced on June 26, 2023, serves as another warning for those taxpayers who rely solely on administrative guidance foun...

San Mateo, CA: Tax matters can be complex, and for some individuals, unforeseen circumstances can lead to confusion and potential tax liabilities.Two common situations that are often confused with each other that taxpayers may encounter are: innocent spouse and injured spouse relief. While both o...

San Mateo, CA: Before you can propose a solution to your IRS tax problems, you must be in tax compliance with the IRS.Clients rarely have just one year of tax problems to deal with.  Often, IRS tax problems stretch over several years.Please note that before you can apply for an IRS Collection alt...

San Mateo, CA:  In a move that is probably long overdue, the IRS announced on 7/24/23 that it is ending its decades-long policy of IRS employees making unannounced visits to taxpayer's homes and businesses.The IRS  cited employee safety and combatting scammers who pose as IRS agents as the reason...

San Mateo, CA:  The IRS is not always right on penalty assessments and interest charged on outstanding taxes.  Beware!Many taxpayers falsely think when it comes to income taxes, what the IRS says is correct!  Well, that is not the case every time.When a client has a tax bill that has been outstan...

San Mateo, CA: What is worse than paying one of these pennies on the dollar Offer in Compromise rip-off companies?  Paying Uncle Sam and being back at square one!I often rail about these "late night offer in compromise" rip-off companies that promise to settle your tax debt for "pennies on the do...

San Mateo, CA.  The deadline to file your 2022 federal tax return was, for most taxpayers, April 18, 2023 this year.  If you filed an extension, the deadline will be October 16, 2023.It is important to file your 2022 federal tax return EVEN IF YOU CANNOT PAY for a number of reasons: Failure to fi...