CANDACE STEVENS's (numbercruncherllc) Blog

A pizza restaurant did not file its sales tax reports correctly.  When the state realized this they immediately figured there was fraud going on and sent an auditor out to find out how they were hiding money from the state.This restaurant isn't a high-dollar pizza franchise, it is your run-of-the...

How a levy works depends on what kind of levy it is.  A Regular Levy seizes what the taxpayer owns at the moment the levy is received.  There are two common Regular Levies that are used.  A bank levy and the other is a levy sent to 3rd parties that have paid the taxpayer in the past and reported ...

We can see from Tom's story that a Levy can cause many problems:   Financial Stress Loss of Sleep Contention in relationships Fear Just to name a few.  But exactly what is a levy?A levy is an actual seizure of taxpayers' property to pay a tax debt.  Don't worry, the IRS cannot just levy a taxpaye...

How could Tom have avoided the mess he ended up in with the IRS?  Let's take a look.1st - He could have paid the tax he owed with the original tax return.2nd- He could have sent in his tax return without payment but immediately set up an installment agreement with the IRS.3rd - He should have ope...

When we left Tom he had just had his bank account cleaned out because of a levy that was issued by the IRS.  He is frantic as checks are going to bounce and mostly because his spouse has no idea there is an IRS problem.  So how did we help him?We called the IRS and explained that the client was i...

In Part 1 we saw that Tom had ignored his problem of owing around $95,000 to the IRS so his bank account was levied.  Let's take a look at what happened.When the levy reached the bank, Tom had $5,300 in checking and the levy took all of it.  There was a deposit of $2,500 made the day after, but t...

Tom calls me on 4/15 and was hysterical!  His bank account was levied.  And if that wasn't bad enough, he has been hiding the IRS issue from his spouse and checks are going to bounce.  Tom pleaded with me to help him with the IRS problem and save his marriage.  The good news is if we act quick en...

You need to reply to a letter from the IRS or mail money by a certain date.  You put the letter/money in an envelope, you seal, stamp, and label the envelope.  You drop the letter in the outgoing slot at the post office.  You made it in time...or did you?The IRS does not recognize the date that i...

1099 Employee.  What is it?  Well, there is actually no such thing as a 1099 employee. When a person works for a business they are either an employee or an independent subcontractor, period.  There is no in-between.  How do you know how you should be classified?  Let's look at the definition and ...

Tax Avoidance vs Tax Evasion.  One is a legal way to reduce your tax liability and one is not.  Let's look at each one and find out which one is legal and which is not.Tax Avoidance is using legal means to reduce your tax liability.  Tax planning and using IRS-approved tax strategies are the best...